Following this announcement, the partnership aims to convert the bank’s customer base to Alkami’s single platform for online banking, in order to provide its clients and retail users with an improved experience. Through the use of the Alkami Digital Banking Platform, Quontic Bank and its customers will be enabled to benefit from optimised account opening capabilities, as well as data analytics which can be utilised in order to drive improved engagement. Users will be enabled to have more control and transparency over their financial transactions, as the companies will focus on meeting their needs, preferences, and demands.
In addition, with Alkami’s commitment and strategy to facilitate an open ecosystem and wider partner network, Quontic Bank is set to easily work with other providers and businesses in the market.
Cloud-based digital banking solutions provider for banks and financial institutions in the United States, Alkami Technology aims to enable clients and customers to develop in the industry in a secure and efficient way, as well as build digital communities and adapt quickly to the ever-evolving market. The firm had multiple collaborations and launches in the last couple of months, covering several different geographic areas around the world.
At the beginning of November 2023, the company announced its partnership with Plaid in order to enable bank and financial institution clients in the region of the US to access the latter’s direct API services. Through this strategic deal, customers and collaborators were enabled to benefit from direct application programming interface (API) access to Paid, through the use of Core Exchange.
At the same time, they were expected to facilitate secure and efficient connectivity to their end users’ digital financial ecosystem. Through the usage of the FDX-aligned API, Alkami’s customers and clients were given the capability to provide a reliable and consistent user experience for their end account holders as well, as they were enabled to connect and link their financial accounts via Alkami. In addition, end users were also able to benefit from a highly secure API connection, alongside reduced friction that aimed to lower the overall call center volume.
Earlier in September 2023, Alkami announced its collaboration with Atomic in order to offer a direct deposit switch service to US-based financial institutions, enabling account holders with access to secure and efficient payroll account connections. According to the press release published at the time, Atomic’s direct deposit switch solution was set to be integrated into Alkami’s Digital Banking platform. This was expected to make it easier for community and regional FIs to provide their account holders with quick and convenient ways to set up and switch direct deposits.
The partnership aimed to further improve the manner in which financial institutions grow direct deposits, primary relationships, and account acquisitions. In addition, it also emanated paper processes, reduced the cost of deposit acquisition, and significantly decreased wait times that offer occurred with traditional methods.
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