Digital banking solutions provider Alkami acquired payments fraud prevention technology company ACH Alert this week.
Terms of the deal are undisclosed but the announcement comes just a few days after Alkami closed a $140 million round of funding.
Founded in 2008, ACH Alert offers two flagship solutions, PRO-TECH and PRO-CHEX, which provide a real time ACH approval process and a check positive pay service, respectively. Alkami will leverage ACH Alert’s solutions to provide a platform to enable banks to increase revenue, reduce complexity, and improve fraud prevention.
“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,” said Alkami CEO Mike Hansen.
Among ACH Alert’s latest clients are Mountain America Credit Union and Citizens Union Bank. Last November, the Tennessee-based company signed a distribution agreement with Apiture, which will offer ACH Alert’s fraud detection services to its 450+ financial institution customers.
Headquartered in Dallas, Texas and founded in 2009, Alkami seeks to provide an end-to-end digital banking experience by offering tools for onboarding, user engagement, and account servicing.
“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,” Hansen added.
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