20 July 2018
Visit www.avoka.com

General Atlantic invests in digital banking firm Alkami

10 January 2018  |  2737 views  |  0 Source: Alkami Technology

Alkami Technology Inc., a leading provider of digital banking solutions to credit unions and banks, announced today that General Atlantic, a leading global growth equity firm, has made a strategic investment in the company.

General Atlantic will be joining existing investors S3 Ventures, Argonaut Private Equity, and a number of other strategic fintech investors in Alkami's next stage of innovation, growth, and expansion.

Alkami provides a modern and unified digital banking platform. This solution enables the clients of banks and credit unions to experience seamless functionality across all their digital devices. The multi-tenant, cloud-based platform includes retail and business banking, mobile banking, bill pay, personal finance management (PFM), Person-to-Person payments, marketing, and more. The platform is delivered with a software development kit (SDK) and API set that provides each financial institution with flexibility and control. Alkami-enabled banks and credit unions can build their own apps and product extensions as well as easily integrate new features and functions for all lines of business, allowing them to better serve their customers in an increasingly competitive market.

"In an era of digital transformation, our clients, who consist of credit unions and banks in the U.S., count on Alkami to inspire and power their digital strategies through enhancing value, growth, service, efficiency and relationships," said Mike Hansen, CEO of Alkami. "General Atlantic's partnership will help to accelerate the delivery of our world-class technology and innovative solutions to our clients, ensuring Alkami remains synonymous with digital transformation in finance."

Alkami has experienced market-leading growth and levels of market adoption since its founding in 2009. Alkami was recently ranked 176th overall in the 2017 Inc. 5000 Fastest Growing Companies, as well as 11th in the U.S. and 1st in Texas in the software industry overall. Additionally, Alkami was ranked 66th on Deloitte's 2017 Fast 500 awards for the fastest growing technology companies in North America.

"Digital banking needs are evolving along with consumer and business behaviors, and we believe Alkami is at the center of this industry-wide shift," said Raph Osnoss, Vice President of General Atlantic. "Alkami's vision, technology, client success, and business model position the company well for continued growth. We are excited to partner with Mike and the Alkami team to drive continued innovation in the way financial institutions engage with customers."

As a part of the strategic investment, Raph Osnoss and Gene Lockhart, a Special Advisor of General Atlantic, previously President and CEO of MasterCard Worldwide and President of the Global Retail Bank at Bank of America, will join the company's board of directors. Gene Lockhart is also Chairman and Managing Partner of MissionOG, an early to growth stage B2B technology investor, who participated in this round alongside General Atlantic. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12234 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10105 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9821 views comments | 6 tweets | 15 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9589 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9379 views 19 comments | 14 tweets | 30 linkedin

Featured job

Competitive base, double ote, benefits
New York City, NY - USA

Find your next job