Alkami Technology Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for U.S. banks and credit unions, has announced STAR Financial Bank ("STAR Bank") as its first client to empower customers with trading systems that allow the purchase, sale, and secure storage of bitcoin, powered by NYDIG.
STAR Bank is the first bank in the state of Indiana to offer bitcoin trading services to customers.
"STAR Bank is committed to providing personalized banking solutions through the innovative use of technology to support people on their financial journey. We want our customers to feel confident and competent engaging with emerging investment opportunities. That's why we are excited to offer fully integrated bitcoin services in our mobile app leveraging the robust Alkami Platform," said Brian Avery, vice president, technology and digital strategy, STAR Bank.
Traditionally, end-users have been required to establish new financial relationships to manage their crypto holdings - often with unregulated entities. Now, they will have an option to acquire, sell, hold, and manage bitcoin alongside their traditional assets. In turn, FIs have a path to generate new, non-interest income and an additional opportunity to retain and attract customers and their deposits. NYDIG's platform enables FIs to seamlessly offer their customers and members bitcoin products and services in a manner that meets the highest regulatory standards.
"Alkami helps financial institutions achieve digital banking success by delivering the most advanced cloud-based digital banking platform on the market. Early technology adopters appreciate the importance of embracing Bitcoin opportunities," said Stephen Bohanon, founder and chief strategy and sales officer, Alkami. "We are privileged to help STAR Bank remain on the forefront of digital banking by providing their valued customers with a streamlined entry ramp to buy, sell, and manage bitcoin under the trusted STAR brand."
Alkami recently announced the addition of NYDIG to its Gold Partnership Program providing proven third-party solutions on the Platform. Partners represent exclusive technologies that have been rigorously vetted before being recommended to the Alkami client community. STAR Bank customers now have the option to buy, sell, and hold bitcoin alongside traditional accounts by easily accessing NYDIG's secure, regulated, full-stack bitcoin platform embedded in the Alkami Platform.
Patrick Sells, chief innovation officer, NYDIG said: "Being able to log into the STAR mobile app and purchase bitcoin is simply a game-changer and means the future of bitcoin and banking has now arrived. Personally, this is a deeply satisfying accomplishment as STAR Bank was my hometown bank growing up in Indiana. I couldn't be more excited for STAR, the Hoosiers they serve, and the amazing platform Alkami has built."