Alkami Achieves Milestone with Over 500 Positive Pay Customers
Alkami Technology, Inc. (NASDAQ: ALKT), a leading digital sales and service platform provider for financial institutions in the U.S., proudly announces that it has surpassed 500 financial institutions using its Positive Pay Solutions. This achievement highlights a significant shift in the market as banks and credit unions increasingly embrace advanced fraud prevention measures and enhanced commercial onboarding processes.
Growing Need for Automated Fraud Prevention
This wave of adoption is primarily driven by the need for automated workflows that boost operational efficiency. Financial institutions are recognizing the importance of implementing solutions like Alkami's Positive Pay, which includes both ACH (Automated Clearing House) Positive Pay and Check Positive Pay services. These tools are crucial in modernizing approaches to fraud protection and client onboarding.
Improving Operational Efficiency
One financial institution benefiting from Alkami's innovative technology is Northwest Bank. Chief Banking Officer Robin Seelye noted, "Since our transition to ACH and Check Positive Pay, we have witnessed a remarkable enhancement in our onboarding processes along with a decrease in fraud-related costs. Alkami's solutions give our business clients a smooth and secure experience, while alleviating pressure on our internal teams to manage fraud cases effectively." This sentiment is echoed among many of Alkami's clients.
Plug-and-Play Compatibility
Alkami's Positive Pay solutions cater to institutions at various stages of modernization, offering seamless plug-and-play compatibility with existing digital banking platforms. Institutions that do not currently have fraud protection measures in place can quickly adopt ACH and Check Positive Pay, while those transitioning from outdated systems can enjoy improved automation and a streamlined onboarding experience for business clients.
Results Reflect Growing Trust
The milestone of reaching 500 live customers underscores the confidence that financial institutions have in Alkami's ability to deliver smarter tools for fraud prevention and client onboarding. Taylor Adkins, vice president of product management at Alkami, expressed, "Reaching this significant number of live customers emphasizes how financial institutions trust us to enhance their operational capabilities while reducing complexity and costs." This service continues to gain traction as businesses seek to leverage technology for better financial outcomes.
Commercial Offerings Driving Revenue
As institutions strive to maintain robust commercial offerings, many are integrating technology solutions that not only reduce administrative workloads but also generate new revenue streams. Alkami's Positive Pay services facilitate the generation of fee-based income by allowing businesses to secure each check and ACH transaction effectively. This dual advantage helps financial institutions enrich their service portfolios while providing clients with self-service tools to manage and mitigate fraud risks independently.
About Alkami
Alkami provides an integrated digital sales and service platform tailored for banks and credit unions across the U.S. The platform harmoniously combines onboarding, digital banking, as well as data and marketing solutions, ensuring that each component works efficiently both independently and collectively. As the financial landscape evolves towards Anticipatory Banking, Alkami remains committed to empowering banks with actionable technology and data-driven insights to enhance customer relationships.
Frequently Asked Questions
What is Positive Pay?
Positive Pay is a cash management service offered to banks and credit unions to protect against checks being altered or counterfeit. It verifies checks presented for payment against a list of authorized checks provided by the account holder.
How does Alkami support fraud prevention?
Alkami offers advanced Positive Pay Solutions that automate fraud detection for ACH transactions and checks, helping financial institutions reduce losses and improve operational efficiency.
What benefits do financial institutions experience with Alkami?
Institutions using Alkami report enhanced onboarding processes, reduced fraud-related costs, and overall improved operational workflows, allowing them to serve clients more effectively.
Can any bank or credit union implement Alkami’s solutions?
Yes, Alkami’s solutions are designed to be plug-and-play compatible, making it easy for banks and credit unions to integrate them with existing systems regardless of their current technology.
What recognition has Alkami received?
Alkami has been recognized as providing "An Outstanding Mobile Banking Platform Experience" by J.D. Power for both 2024 and 2025, highlighting its commitment to delivering superior banking experiences.
