Alkami Technology Inc. (NASDAQ:ALKT) is one of the best tech stocks to buy for the next 5 years. On May 27, Alkami announced that Citizens Bank, an East Tennessee community bank and existing Alkami customer, is expanding its partnership with Alkami by selecting MANTL to modernize its deposit account opening process. This integration will provide a unified digital journey for retail and business customers, enabling accounts to be opened in under five minutes online or ten minutes in-branch, while ensuring a consistent experience across the bank's 14-office network.
The platform is designed to significantly improve operational efficiency by automating over 85% of application decisions, including critical KYC, AML, and BSA compliance checks. By streamlining these backend processes, the bank aims to reduce manual work and accelerate deposit growth while maintaining the high-touch service expected by its customers.
This collaboration builds on Citizens Bank's existing use of the Alkami digital banking platform. By combining MANTL's origination technology with Alkami Technology Inc.'s (NASDAQ:ALKT) service suite, the bank intends to create a more intuitive, accessible onboarding experience that empowers employees and strengthens long-term relationships with the individuals and businesses they serve.
Alkami Technology Inc. (NASDAQ:ALKT) provides a digital sales and service platform for community banks and credit unions to enable them to compete with the big banks. It enables clients to offer unified retail and business banking, digital account opening, and digital loan origination. It also helps with payment security, targeted marketing, and data analytics.
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