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New Alkami Research Underscores Importance of Modernizing Digital Customer Engagement

Survey of U.S. consumers showcases the impact of Big Tech on digital banking and its effect on customer expectations

PLANO, Texas, Jan. 26, 2022 /PRNewswire/ -- Alkami Technology Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., announced the release of its new research report, "Digital Banking Market Pulse: Big Tech's influence on digital banking."

Alkami Logo (PRNewsfoto/Alkami Technology, Inc.)
Alkami Logo (PRNewsfoto/Alkami Technology, Inc.)

Alkami conducted primary research among 795 U.S. consumers in June of 2021 to better understand Big Tech's influence on the digital banking experience. End consumers were well represented from multiple types of FIs, including megabanks, neobanks and regional and community credit unions and across all generations, from Gen Z to Boomers.

"Today's consumers expect the advanced digital experience provided by Big Tech, and this expectation is extending to all digital aspects of their lives, including daily banking transactions," said Allison Cerra, chief marketing officer, Alkami. "To keep pace and remain competitive, FIs must recognize what customers and members most want, and leverage modern digital banking platforms to achieve those goals."

Highlights of the research showcased in the new report include:

  • Users expect digital experiences aligned with what Big Tech can offer. Almost 40% of consumers agree that the "bank" of the future will be first and foremost a technology company.

  • When it comes to digital banking, the generation gap closes. Baby Boomers are more likely to prefer an engaging, ever-evolving, relevant, and multifunctional digital banking experience than all other generations. They are also just as likely as Gen Z to want it to be autonomous.

  • Tomorrow's tech is today's competition. Nearly one-third of consumers say they would switch from their primary FI to one of the major tech or fintech brands.

To ensure ongoing relevance in the face of Big Tech's influence, regional and community FIs must accelerate technology adoption. Cerra said, "To help financial institutions in their quest to elevate the digital banking experience and stand out from the crowd, those organizations that provide FIs with digital banking platforms must likewise rise to the occasion by ensuring modern, flexible offerings."

To learn more about how FIs can better leverage data and digital technologies to connect with customers and meet modern service expectations, download the full whitepaper.

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. The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 280 financial institutions. Alkami's investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies.

Media Relations Contacts
Jennifer Cortez
jennifer.cortez@alkami.com

Audrey Pennisi
audrey@outlookmarketingsrv.com

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SOURCE Alkami Technology, Inc.