Research-driven insights lay the groundwork
for banks and credit unions to gain competitive standing in year
ahead
PLANO,
Texas, Oct. 18, 2023 /PRNewswire/ -- Alkami
Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based
digital banking solutions provider for financial institutions in
the U.S., today announced the release of its 2024 Strategies and
Budgeting Playbook for Financial Institutions, which explores the
opportunities and challenges that lie ahead for the financial
industry, and offers strategies from peers, industry experts and
thought leaders, including Marc
DeCastro, Brett King,
Jim Marous, Jim Perry, and Ron
Shevlin. Alkami's 2024 Playbook comes ahead of what is being
called a "crossroads year" for the industry, when factors like
increasing compliance and fraud issues and competition
for deposits are expected to coalesce and make it more urgent than
ever that financial institutions provide heightened user
experiences, personalized offers via account holder data, and a
market-leading digital banking user experience.
"This playbook differentiates itself from others by presenting
accessible and practical advice, serving as a toolkit and decoder
for financial institutions looking to navigate shifting industry
challenges," said Ron Shevlin, chief
research officer, Cornerstone Advisors, senior contributor at
Forbes and 2024 Playbook contributor.
According to the 2024 Playbook, the radical transformation that
the banking industry has undergone in recent years will only
accelerate. Financial institutions also face a number of pressing
challenges in 2024, outlined in the playbook. The economic outlook
continues to be uncertain, impacting households across income
levels and potentially affecting their banking decisions.
Protecting account holder data while safeguarding financial
institutions' ecosystems is also an increasingly uphill battle,
particularly as fraud targeting payment systems
becomes more sophisticated. At the same time, the Generation Z (Gen
Z) customer base continues to be difficult for financial
institutions to fully acquire, as Gen Z is less likely to be loyal
to a financial institution, instead preferring to cherry-pick
solutions.
In the face of these industry challenges and ongoing volatility,
Alkami's 2024 Playbook suggests that, rather than being a hindrance
to growth, these realities can be leveraged by financial
institutions to embrace new priorities and technologies for a more
dynamic approach to gaining market share. The playbook outlines
specific strategies for financial institutions to get the most out
of the innovation happening across the ecosystem today, as well as
critical budget items to prioritize.
"Alkami is committed to providing research and experience-backed
insights that can drive strategies for regional and community
financial institutions. Our clients are important to those they
serve, providing competitive access to financial services, while
adapting to the economic landscape to vie for market share," said
Alex Shootman, chief executive
officer at Alkami. "As financial leaders formulate an execution
plan for 2024, this playbook provides a critical view into the
market factors and opportunities to embrace change that will
position financial institutions for success with a growth-oriented
banking philosophy."
To access the Alkami 2024 Playbook, visit
https://alkami.digitalbanking.solutions/2024-playbook-strategies-and-technologies.
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital
banking solutions provider for financial institutions in
the United States that enables
clients to grow confidently, adapt quickly, and build thriving
digital communities. Alkami helps clients transform through retail
and business banking, digital account opening, payment security,
and data analytics and marketing solutions. To learn more,
visit www.alkami.com.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
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SOURCE Alkami Technology, Inc.