| Market Capitalization (Millions $) |
1,978 |
| Shares
Outstanding (Millions) |
106 |
| Employees |
1,225 |
| Revenues (TTM) (Millions $) |
472 |
| Net Income (TTM) (Millions $) |
-50 |
| Cash Flow (TTM) (Millions $) |
-21 |
| Capital Exp. (TTM) (Millions $) |
9 |
Business Description
Alkami is a supplier of cloud-based digital banking products. We inspire and equip community, regional, and super-regional financial institutions ("FIs") to compete in the United States with large, technologically advanced, and well-resourced banks. The Alkami Platform, our solution, enables FIs to onboard and engage new customers, increase revenues, and significantly enhance operational efficiency, all with the help of a patented, genuine cloud-based, multi-tenant architecture. We build long-term, subscription-based contractual partnerships with our clients, connecting our development with their success and producing an appealing unit economic model.
The Alkami Platform is a multi-tenant, one code base continuous delivery platform that is supported by a genuine cloud architecture. Our platform interfaces with core system providers and other third-party fintech providers, and it serves as the principal interface between consumers, businesses, and financial institutions. The key advantage of this architecture is that it eliminates the inefficiencies of traditional point-to-point integration solutions by providing a single point of connection that allows our clients consumers to easily traverse between channels. We feel that this is crucial for FIs as their business models move from physical to digital, allowing them to build a digital community in the image of their larger brands and in line with their strategic goals.
The Alkami Platform provides FIs with a complete digital banking solution designed to facilitate and meet the needs of both retail and business users. We deliver our platform through a purpose-built, true cloud SaaS solution, enabling our clients to avoid costly and disruptive system-wide maintenance windows as well as testing projects during upgrades, which is typical of single-tenant platform solutions that are currently prevalent in large parts of the industry.
Our technology is predominantly differentiated by the speed-to-market with which we can deliver innovation on the back of a true cloud infrastructure with the combination of the following architectural pillars:
'Multi-Tenant Architecture: We built our platform from the ground up as multi-tenant. This enables our clients to share in economies of scale enjoyed by large FIs, optimizing for speed, efficiency, reliability and increased security. Importantly, this model also enables us to avoid a growth tax, or additional resource burdens arising from high growth upon a single-tenant platform. New clients can be efficiently on-boarded, new client customers can be seamlessly added and product upgrades and updates can be delivered quickly.
'Single Code Base: Our single code base is built upon a microservices architecture that leverages our multi-tenant model, compounding the efficiency of our infrastructure and software development lifecycle, regardless of the size, structure or complexity of the client. By maintaining a single code base, we are able to quickly and continuously deploy new code to our entire client base, supporting many platform releases per year. With a microservices architecture, we can support zero-downtime deployments, reduced testing complexity, automation and extensibility.
'Continuous Delivery Model: The combination of a multi-tenant architecture and single code base is made more powerful when combined with continuous software delivery, enabling us to update our entire client base at frequent intervals. This speed and execution enables our clients to confidently grow and compete with many of the most technologically advanced FIs in the world.
We synchronize, typically in real-time, the systems and modules into which we integrate while also accumulating a data warehouse that can be synthesized into actionable insights and business intelligence. FIs need access to accurate and complete data. These timely insights extend across administration, marketing and strategy, informing decision-making for FIs and increasing user stickiness. For instance, our clients can identify users with a credit card or loan from another FI and market targeted, competing products to these users. This granular level of insight allows Alkami clients to digitally and systematically drive growth through smarter marketing and forecasting.
The vast majority of our technology is invisible to our clients' customers; however, our premier user experience delivered in partnership with our clients is highly visible. This includes an ease of use and seamlessness that begins with on-boarding, and extends through general usage, such as balance inquiries, moving money, monitoring credit, managing cards and executing transactions such as deposits, loans and payments. Across our clients' customer base, the average registered user logged onto the digital application three to four times per week, in 2021, providing our clients more opportunities to engage with their customers than a physical branch-based relationship, further highlighting the motivation for our clients to promote client customer digital adoption.
Our security infrastructure combines security and services from AWS with our own security protocols and integrations. This includes network traffic inspection, endpoint detection and response and automated patching and encryption of data, both at rest and in transit. In a world where our clients receive hundreds of millions of access requests per month from unverified sources, our security infrastructure is a key element of our value proposition, particularly against new entrants.
While our products and solutions are highly configurable, in certain instances our clients will request custom development and other professional services which we provide. These are generally one-time in nature and involve unique, non-standard features, functions or integrations that are not as broadly desired across our client base.
Company Address: 5601 Granite Parkway, Plano, 75024 TX
Company Phone Number: 725-5264 Stock Exchange / Ticker: NASDAQ ALKT
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