Overall, the 182 Alkami Technology staff all rate their overall leadership a B+ or Better rating of similar size businesses on Similar. This includes general ratings of the CEO, C-level executives, manager, and team members. Employees at Alkami Technology generally are very satisfied with their overall compensation in terms of salary, stock, and equity, as well as other benefits. However, there are three areas that seem to be of particular concern for employees. They include:
* Financial Market Access: A concern for many employees is the feeling that they are not able to obtain access to the financial markets. As per an email from one of the company’s senior management, “At present, we have a small group of people in a few different offices across the United States that are able to move between accounts, but not in depth.” The concern being that “a true global digital banking platform” would allow Alkami technology employees the same seamless access to the markets as other financial services companies. It was also brought up, “Our small group of digital finance people don’t have a full understanding or connection to the investment products and services offered by our larger competitors.”
* Account Servicing: Another thing that seems to be lacking with Alkami technology is a solid account servicing platform. According to one of the company’s executive officers, “We believe that Alkami clients need to have an in-house system that is native to their brand, rather than leveraging a third party solution that may not be as familiar to their business or target market.” According to one banking industry source close to Alkami, “Alkami’s platform and solutions are impressive… but not up to par with what competitors have in mind for their business.” Another banker stated, “While Alkami takes a fairly strong approach to security and privacy, they don’t go far enough,” referencing that their encryption and monitoring methods are too weak and open to abuse by hackers. He went on to say, “The best way to secure your data is to stay with a reputable provider like Alkami.”
* Load Balancers and Load Controllers: When Alkami first announced its new platform and what it would entail, the thinking behind the move was simple and straight forward: create a single management interface for all of your business’s online assets, including but not limited to: blogs, customer manifests, social media accounts, email, contacts, and more. In that regard, they’ve been successful. And they’ve also created a load balancer that can handle multiple incoming connections at once, called “loads”. However, the combination of having a “single management interface” and the reliance upon loads (also known as “back-end load balancers”) creates significant operational challenges for most businesses. For example, many companies struggle with the ability to test and make adjustments to their back-end load balancers without affecting the live operations of their online storefronts.
* Financial Institutions: According to one industry observer, “Many financial institutions are now facing the challenge of how to migrate to a new online application platform which focuses on mobile, video and audio experiences for customer transactions such as making a purchase or receiving information online.” This is where alkali shines. The combination of a scalable, flexible, cost effective, fast and intuitive mobile app with a rich, engaging user experience across multiple platforms will provide a real competitive advantage over its competitors. Additionally, a single app is likely to provide a significant increase in revenue for financial institutions and other enterprises looking to reduce transaction costs and increase customer satisfaction. Finally, a well developed and regularly maintained back-end load balancer can eliminate many of the inherent problems associated with online banking.
* Online Retail Environments: According to one industry leader, “many financial institutions that have adopted online banking are finding that customers are not buying the services they were initially sold. These institutions are working to develop and promote digital solutions for customer needs in this new environment.” What does alkami deliver? Its software offers a fast-growing field of mobile apps specifically built for the retail environment. As customers grow increasingly impatient for online services and continue to demand faster transactions, fast-growing biotech companies such as alkami are becoming increasingly important to retail institutions. The integration of a mobile app into a traditional retail environment provides customers with a way to interact with the institution while on the go, with a level of convenience and confidence often hard to match.
* Customer Centric Platforms: Fintech experts are touting the potential of a multi-pronged approach to online banking. Rather than focusing on building a single core system to support all functions, these companies are embracing the notion of designing consumer-centric platforms. These apps would gather information from a number of internal and external sources, including social media, location based services and more, streamline the workflow and provide personalized experiences that customers are sure to appreciate. According to one report, financial institutions are expected to experience a 50% boost in monthly revenue by integrating these services with their current systems.
* Extensible Financial Software Interface: As another fintech innovation, alkami’s platform allows users to interface easily with its financial services, such as payment processing, mobile banking using real time transactions. In essence, this means that the company’s existing customers can be seamlessly added to its database, as well as new customers, with little effort required on the part of the end user. According to analysts, this represents a major step forward in fintech evolution. “While there is still some work to be done to improve the depth of these services, the groundwork is substantial and shows the trend toward greater in depth integration of financial services as it becomes clear that customers expect better experiences when shopping for banking products and services,” said Daniel. “Alkami is just the first step in this journey.”