Alkami Technology Partners with Plaid to Increase Financial Security
November 14, 2023
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Alkami Technology ($NASDAQ:ALKT), Inc. is a leading provider of cloud-based digital banking solutions for banking institutions across the United States. The company recently announced a strategic partnership with Plaid, an API-based financial data platform. Through their partnership, Alkami and Plaid will work together to increase the security and transparency of financial transactions. The partnership will allow Alkami to provide its customers with the ability to store sensitive financial information in a secure and encrypted environment. This will be done through the use of Plaid’s secure APIs, allowing customers to securely share their financial data with other applications.
Additionally, Plaid’s platform will provide Alkami customers with more visibility into their account data and will help reduce fraud risks. With Plaid’s APIs, Alkami will be able to offer its customers a more secure and streamlined experience with their financial data. As a result of this partnership, both companies hope to give customers greater peace of mind when it comes to their banking experience.
Stock Price
This news caused a slight increase in the company’s stock price, with the stock opening at $20.8 and closing at $21.2, up 0.6% from its previous closing price of $21.1. The partnership focuses on providing enhanced security measures to protect customer data, as well as increasing the speed and efficiency of financial transactions. ALKAMI TECHNOLOGY and Plaid will work together to develop a robust and secure platform that will enable customers to easily access their financial information and make transactions quickly. Furthermore, the two companies aim to create an easy-to-use system that will help protect customers from potential online threats such as fraud and identity theft. This partnership between ALKAMI TECHNOLOGY and Plaid will no doubt provide customers with a much-needed layer of security when it comes to their finances.
The increased security measures will help customers to feel more confident and secure when making online transactions. With this new partnership, ALKAMI TECHNOLOGY is taking an important step towards making the digital financial landscape more secure and reliable for its customers. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Alkami Technology. More…
| Total Revenues | Net Income | Net Margin |
| 249 | -55.11 | -27.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Alkami Technology. More…
| Operations | Investing | Financing |
| -25.94 | 7.31 | -6.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Alkami Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 482.19 | 160.54 | 3.37 |
Key Ratios Snapshot
Some of the financial key ratios for Alkami Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 40.6% | – | -19.4% |
| FCF Margin | ROE | ROA |
| -12.7% | -9.4% | -6.3% |
Analysis
GoodWhale has conducted an analysis of ALKAMI TECHNOLOGY‘s fundamentals. The results of our Star Chart show that ALKAMI TECHNOLOGY has an intermediate health score of 6/10 considering its cashflows and debt, indicating that it is likely to safely ride out any crisis without the risk of bankruptcy. We have classified ALKAMI TECHNOLOGY as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Considering ALKAMI TECHNOLOGY’s strengths in asset and growth, as well as its weaknesses in dividend and profitability, we believe that investors who value companies with high potential for future growth, such as venture capitalists and private equity firms, would be most interested in ALKAMI TECHNOLOGY’s opportunity. Additionally, investors who value companies with stability and high profitability may also find ALKAMI TECHNOLOGY attractive, as the company has a strong foundation to build on. More…
Peers
Its competitors include MoneyLion Inc, AppTech Payments Corp, and Temenos AG. Alkami Technology Inc has a strong market presence and offers a comprehensive suite of digital banking solutions. Its products are well-received by customers and its services are highly competitive.
– MoneyLion Inc ($NYSE:ML)
MoneyLion Inc is a financial technology company that offers a mobile app and a platform that provides its users with access to financial products and services. The company has a market cap of 252.47M as of 2022 and a return on equity of -14.08%. MoneyLion’s products and services include a mobile app, a personal finance management tool, a credit builder product, and a lending product. The company was founded in 2013 and is headquartered in New York, NY.
– AppTech Payments Corp ($NASDAQ:APCX)
AppTech Payments Corp is a provider of payment processing solutions. The company offers a range of services, including online payment processing, mobile payment processing, and point-of-sale payment processing. AppTech Payments Corp has a market cap of 13.55M as of 2022, a Return on Equity of -88.5%. The company’s primary focus is on small and medium-sized businesses, providing them with the tools and services they need to streamline their payment processing. AppTech Payments Corp is headquartered in Atlanta, Georgia.
– Temenos AG ($LTS:0QOA)
Temenos AG is a leading provider of banking software. The company has a market cap of 4.07B as of 2022 and a return on equity of 27.62%. Temenos is headquartered in Geneva, Switzerland and has a strong global presence with over 3,000 customers in over 150 countries. The company’s software helps banks drive digital transformation and deliver superior customer experiences.
Summary
ALKAMI Technology, a US-based financial technology company, recently partnered with Plaid, a fintech company that provides an API for connecting bank accounts to other apps. This partnership is expected to expand the reach of ALKAMI’s portfolio of products and services, such as its digital banking platform, to more users. ALKAMI’s investment value has been steadily rising since the partnership announcement. Analysts believe that this is due to the potential for greater customer base growth and increased revenue as ALKAMI’s services become more accessible and convenient.
This is a trend that is likely to continue, with both companies continuing to invest in the development of their respective technologies and products. Moreover, ALKAMI’s experience and expertise in the banking space could also contribute to increased market opportunities.
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