Alkami Acquires Fraud Prevention Provider ACH Alert

Enables Business Clients to Reduce Complexity and Fraud, Financial Institutions to Increase Revenue, Consumers to Increase Convenience and Control

News provided by

Alkami Technology, Inc.

Oct 06, 2020, 10:16 ET

PLANO, Texas, Oct. 6, 2020 /PRNewswire/ -- Alkami Technology, Inc. ("Alkami"), a leading cloud-based digital banking solutions provider for U.S.-based financial institutions (FIs), today announced the acquisition of ACH Alert. ACH Alert is an award-winning provider of electronic payments fraud prevention technology for FIs of all sizes. The acquisition extends Alkami's innovative, omni-channel platform to include enhanced fraud prevention and secure money movement functionality.

"We are excited to expand our platform to include market-leading fraud prevention capabilities further supporting the needs of the business clients of FIs," said Alkami CEO Mike Hansen. "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."

Initially founded to help banks make ACH transactions safer and dispute resolution completely automated, ACH Alert has responded to the demands of FIs to do the same for checks, domestic and international wire transfers, etc. ACH Alert, through its two main solutions PRO-TECH and PRO-CHEX, has proven that fraud prevention doesn't have to be a costly proposition or cause friction with a FIs business clients, customers or members. Current treasury services and payment protection processes – specifically check positive pay, ACH debit blocks and filters, wire transfer protection, and EDI translation – are ripe for improvements that can be implemented relatively easily. These services are often revenue-generators for the FIs offering them, and they are effective fraud prevention and information-reporting tools for clients.

"The ACH Alert team is extremely excited to join forces with Alkami," said Debbie Peace, CEO of ACH Alert. "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."

Leveraging ACH Alert's solutions, Alkami will provide a platform to financial institutions of all sizes enabling them to increase revenue, reduce complexity and improve fraud prevention. That same platform will provide business clients, bank customers or members with a state-of-the-art, personalized digital experience to manage their finances. As a user-friendly, unified digital banking solution, it is consistent across all devices and services including retail, business, bill pay, personal finance management (PFM), marketing, and more.

About Alkami

Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the U.S. that enables clients to grow confidently, adapt quickly and build thriving digital communities poised for growth. Alkami is the digital banking platform of choice for over 160 financial institutions, representing nearly 10 million consumers and businesses. Alkami's bold investments in people and technology has resulted in an award-winning culture and a remarkable client community. Alkami was recognized in 2018 and 2019 as a Deloitte Technology Fast 500 company in North America.

To learn more about Alkami or to request a demo visit alkami.com.

Contacts:

Investor Relations Contact
Rhett Butler
[email protected]

Media Relations Contact
Jennifer Cortez
[email protected]

SOURCE Alkami Technology, Inc.