Utah-based Mountain America Credit Union (MACU), with $6.7 billion in assets, will deploy a new digital banking platform courtesy of Alkami Technology. The new platform will integrate with Mountain America CU’s existing core system and enable the 650,000 member institution to provide a variety of digital banking services including billpay and PFM. “With our growing number of account holders, Alkami’s platform will enable us to deliver unique products and features that will set us apart, giving us a true competitive edge,” Kelly Albiston, SVP of Digital Banking at Mountain America CU said. “We look forward to offering this new platform to members.”
Once deployed, Mountain America will be able to customize their new digital banking experience by creating its own apps and products. The platform includes a fully-hosted business intelligence technology with analytics and reporting, marketing, and educational content. “Mountain America Credit Union recognizes (the) shift in consumer preferences to interact digitally in a way that is convenient, straightforward and intuitive,”Stephen Bohanon, founder, chief strategy and sales officer for Alkami Technology said. Emphasizing that technology in general and Alkami’s platform in specific should “enrich the life of the user, not encumber it,” Bohanon added that the solution will enable MACU to give its members “a simple, consistent, digital banking experience that meets their needs.”
Mountain America CU maintains 88 branches in five states, thousands of shared branch locations around the country, and more than 50,000 surcharge-free ATMs. Earlier this month, MACU was named “Best Credit Union” by readers of Provo, Utah’s Daily Herald and St. George, Utah’s The Spectrum. The credit union was also recognized by KSL Jobs as a “top workplace culture in Utah.”
MACU is the second big credit union partnership Alkami has forged this summer. In June, the company inked a deal with Sandia Laboratory Federal Credit Union ($2.4 billion in assets; 84,000 members), the largest credit union in New Mexico, to deploy Alkami’s ORB Digital Banking Platform. Founded in 2009 and headquartered in Plano, Texas, Alkami demonstrated its technology (as iThryv) at FinovateSpring 2009. A member of the Inc. 5,000, Alkami is ranked in the top 10 of Dallas-area companies and in the top 15 of all Texas companies. With 2016 revenues of $12 million, Alkami recently reported a 38% growth in its client base, 103% growth in users, and 51% growth in contracted users since January 2016. In July, the company announced a new set of Amazon Alexa skills, including balance requests, spending tracking, money transfers, and billpay. Mike Hansen is Alkami CEO.