Alkami Technology, Inc. (Alkami), a cloud-based digital banking solutions provider for banks and credit unions, announced on Tuesday it has acquired fraud prevention provider, ACH Alert. Alkami reported that the acquisition extends its omnichannel platform to include enhanced fraud prevention and secure money movement functionality.
Speaking about the acquisition, Alkami CEO, Mike Hansen, stated:
“ACH Alert provides FIs with a seamless solution that eliminates the flaws and inefficiencies in existing processes. These inefficient, paper-based processes not only undermine customer adoption and profitability but also lead to a higher incidence of fraud. Alkami continues to be the go-to partner for FIs wanting to accelerate their digital strategies, plans and results. Together with ACH Alert, we expect to continue to create and deliver winning digital solutions to our clients and their consumer and business digital users.”
Debbie Peace, CEO of ACH Alert, further commented:
“The ACH Alert team is extremely excited to join forces with Alkami. Alkami’s mission to be the gold standard in banking combined with their core cultural values are a fantastic fit for our team as we continue to provide FIs and their business banking clients a seamless positive pay platform with robust fraud prevention capabilities.”
As previously reported, Alkami was founded in 2009 and provides a modern and unified digital banking platform that enables clients of banks and credit unions to experience “seamless” functionality across all digital devices. It also includes retail and business banking, mobile banking, bill pay, personal finance management (PFM), person-to-person payments, and marketing.
The acquisition comes just weeks after Alkami secured $140 million through its latest investment, which was led by D1 Capital Partners.