Sells US banks and credit unions (not megabanks) a subscription digital-banking platform priced mostly per registered user, cross-selling MANTL account opening and a data-and-marketing product whose AI models score account holders for cross-sell and attrition.
What is Alkami, and which banks use it?
Alkami is a Plano, Texas digital-banking vendor, public on Nasdaq since 2021, serving 301 banks and credit unions on its digital banking platform at end-2025. Its AI is mostly predictive: cross-sell and attrition models in its Data & Marketing Solution, plus a generative-AI code assistant (Code Studio) in limited beta since April 2026. None of our 100 banks is a sourced customer of its AI. Pricing is not published; its 10-K says it predominantly charges per registered user. In September 2026 the board ended a sale review and stayed independent.
Category
Founded
2009
Headquarters
Plano, Texas, US
Ownership
Public on the Nasdaq Global Select Market since its April 15, 2021 IPO (priced at $30.00 per share). Activist investor Jana Partners disclosed a 5.1% stake in April 2026; Alkami's advisers began contacting private-equity buyers in August 2026, and on September 23, 2026 the board ended its strategic review and chose to stay independent.[1][5][3]
Deployment
SaaS (multi-tenant cloud platform, sold on multi-year subscription contracts)
Pricing
Multi-year SaaS subscriptions, predominantly priced per registered user, with incremental fees above contractual client minimums (per the 10-K). · not published
Banks among the 100
0
- Alkami served 301 financial institutions on its Digital Banking Platform at December 31, 2025 (272 a year earlier) and over 960 clients including those buying only ACH Alert, Segmint or MANTL; it targets the top 2,500 institutions by assets excluding megabanks.
- Its AI is mainly predictive marketing: the Data & Marketing Solution scores account holders with AI data tags such as 'AI Attrition Risk Positive', 'AI HELOC Cross-Sell' and 'AI High Engagement', and Alkami says it runs a dozen AI predictive models trained on more than 18 billion core transactions.
- Alkami Code Studio, a generative-AI assistant that writes SDK components for the Alkami platform using closed-loop large language models inside Alkami's infrastructure, was unveiled in April 2026 and is in a limited beta; Patelco Credit Union took part in early testing.
- Alkami says it is working toward 'a secure AI access layer using model context protocol (MCP)' for conversational access to institutional data, and describes those capabilities as 'still evolving'.
- Third-party AI reaches banks through the platform: BioCatch behavioral-biometric account-takeover protection (Alkami says its clients using it stopped more than $54 million of fraudulent transactions in 2024) and, from July 2026, Casap, an agentic-AI dispute-management partner in its Elements marketplace.
- Alkami's 10-K says it uses AI technologies licensed from third parties in its products and warns that AI systems can produce biased, erroneous or 'hallucinatory' outputs.
- Reversal: after Jana Partners' pressure and a sale process reported by Reuters in August 2026, the board ended the review on September 23, 2026 without a deal; the shares fell more than 18% that day, to $14.68.
What does Alkami sell to banks?
| Product | What it does | Status |
|---|---|---|
| Data & Marketing Solution (predictive AI)[10][8][1] | Transaction data cleansing, 50,000 descriptive data tags and a dozen AI predictive models (engagement, attrition, deposit and loan cross-sell) used to target account-holder campaigns; built on Segmint, acquired April 2022. | Generally available |
| Engagement AI Model[9] | A predictive model launched August 2023 that combines AI, machine learning and Alkami's Key Lifestyle Indicators to score an institution's whole account-holder base daily for likely engagement and growth; the inverse of Alkami's attrition model. | Generally available |
| Alkami Code Studio[6] | Generative-AI assistant inside the Alkami SDK Wizard that generates, validates and deploys SDK components on the Alkami platform, using closed-loop LLMs running in Alkami's infrastructure. | Beta |
| MANTL Onboarding & Account Opening[1][8] | Digital, branch and call-center deposit account opening and loan origination for retail, business and commercial customers, with automated KYC, AML and BSA decisioning; acquired March 2025 for about $375 million net of cash. | Generally available |
| Alkami Digital Banking[1] | Retail and business online and mobile banking platform, the company's main revenue source, sold on multi-year contracts with an average life of about 70 months. | Generally available |
How much does Alkami cost?
How it is charged: Multi-year SaaS subscriptions, predominantly priced per registered user, with incremental fees above contractual client minimums (per the 10-K)..
Alkami does not publish a price list.
- Alkami's 10-K: 'We predominantly employ a per-registered-user pricing model', with revenues derived 'almost entirely from multi-year contracts' averaging about 70 months (as of December 31, 2025). No AI-module prices are disclosed. (Dec 31, 2025)[1]
- Company-reported revenue per registered user was $21.69 in Q2 2026, up 7.0% year over year (an average across all products, not a price list). (Jun 30, 2026)[2]
Pricing is not published; Alkami sells through sales-led, multi-year contracts. Its SEC filings disclose the model (per registered user) and an average revenue per user, but no list price and no separate price for its predictive-AI or Code Studio features.
Which banks use Alkami?
None of the 100 largest US banks covered on this site is publicly named as a Alkami customer as of Sep 24, 2026. Customers the company names are listed in the key points above.
Among the 100 largest US banks on this site, from sources that name the bank: the bank, Alkami or the press. Status is the furthest stage a source confirms.
What is Alkami Digital Sales & Service Platform?
Three solutions sold separately or together: Onboarding & Account Opening (MANTL, acquired March 2025), Digital Banking, and Data & Marketing (built on the 2022 Segmint acquisition), which Alkami says provides 50,000 descriptive data tags and a dozen AI predictive models trained on more than 18 billion core transactions. The unified platform became generally available in April 2026.[8][7][1]
What has Alkami done, and when?
- Sep 23, 2026
- Aug 6, 2026
Sale process reported[5]
Reuters reports that Alkami's advisers began contacting private-equity firms after inbound interest, amid pressure from Jana Partners, which disclosed a 5.1% stake in April 2026.
- Jul 29, 2026
Q2 2026: ARR passes $500 million[2]
Alkami reports Q2 revenue of $129.8 million (up 15.9%), annual recurring revenue of $511.7 million (up 21%) and 23.6 million registered users, and guides 2026 revenue to $528–531 million.
- Jul 22, 2026
Agentic-AI dispute partner added[12]
Alkami's summer 2026 release adds Casap, described as an agentic AI platform that automates the dispute-management cycle, as an Elements partner embedded in the Alkami environment.
- Apr 16, 2026
Alkami Code Studio enters beta[6]
Alkami unveils Code Studio, a generative-AI assistant for building SDK components on its platform, in a limited beta, and says it is working toward an MCP-based AI access layer for institutional data.
- Apr 14, 2026
Unified platform generally available[7]
Alkami makes its unified Digital Sales & Service Platform generally available, one year after buying MANTL; it says 58% of new digital-banking customers in the second half of 2025 chose the full platform.
- Apr 2, 2025
Digital Sales & Service Platform strategy[8]
At Co:lab 2025 Alkami groups onboarding (MANTL), digital banking and data & marketing into one platform and describes a dozen AI predictive models trained on more than 18 billion core transactions.
- Mar 19, 2025
BioCatch results on the platform[11]
Alkami says clients using BioCatch's behavior-based account-takeover protection through its platform stopped more than $54 million of fraudulent transactions in 2024 (vendor-reported).
- Mar 17, 2025
MANTL acquisition closes[1]
Alkami completes its acquisition of Fin Technologies, Inc. (MANTL), an account-opening and loan-origination vendor, for aggregate consideration of about $375 million net of cash acquired.
- Aug 9, 2023
Engagement AI Model launched[9]
Alkami launches an Engagement AI Model in its AI Predictive Modeling solution, scoring account holders daily for behaviors that have historically led to deeper engagement.
- Apr 1, 2022
Segmint acquired[1]
Alkami acquires Segmint, a financial data analytics and transaction-data cleansing provider that becomes the base of its Data & Marketing Solution and predictive-AI models (month disclosed, day not).
- Apr 15, 2021
Nasdaq IPO[1]
Alkami's shares begin trading on the Nasdaq Global Select Market under ALKT; the IPO is priced at $30.00 per share.
- Jan 1, 2009
Alkami founded[1]
Alkami says it has 'grown rapidly since 2009'; the company was incorporated in Delaware in August 2011 and is based in Plano, Texas (exact founding date not disclosed).
What do banks use Alkami for?
| Use | What it does | Status | Use case |
|---|---|---|---|
| Predictive cross-sell and attrition models[10][9] | AI data tags score account holders for deposit, loan and card cross-sell, engagement and attrition risk, feeding targeted marketing campaigns. | In production | Generative & agentic AI |
| Code Studio for platform development[6] | A generative-AI assistant that writes and validates SDK components for a bank's or credit union's own extensions to the Alkami platform. | Pilot | AI-generated code & coding agents |
| Account-takeover protection via BioCatch[11] | Behavioral-biometric fraud detection from BioCatch, delivered through the Alkami digital banking platform. | In production | Fraud detection |
| Automated account-opening decisions (MANTL)[8][1] | MANTL automates KYC, AML and BSA checks, funding and core booking during deposit account opening; Alkami does not describe these decisions as AI-driven. | In production | AML / KYC |
| Platform-embedded third-party AI[12] | Partners such as Casap (agentic dispute handling) run inside the Alkami environment, so a bank's AI vendors arrive through its digital-banking provider. | Announced | Third-party & vendor AI |
What has Alkami disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Digital Banking Platform clients (company-reported) | 301 financial institutions (272 a year earlier); over 960 clients including single-product customers[1] | Dec 31, 2025 |
| Annual recurring revenue (company-reported) | $511.7 million, up 21% year over year[2] | Jun 30, 2026 |
| Registered digital-banking users (company-reported) | 23.6 million[2] | Jun 30, 2026 |
| 2025 revenue | $443.6 million (2024: $333.8 million)[1] | Dec 31, 2025 |
| Predictive AI scope (vendor-reported) | a dozen AI predictive models trained on more than 18 billion core transactions; 50,000 data tags[8] | Apr 2, 2025 |
| MANTL acquisition price | about $375 million, net of cash acquired[1] | Mar 17, 2025 |
| Fraud stopped by clients using BioCatch on Alkami (vendor-reported) | more than $54 million in 2024[11] | Dec 31, 2024 |
“Financial institutions are looking for partners who are not only talking about AI, but actively embedding it into their Platforms in meaningful ways”[6]
Deep Varma · Chief Technology Officer, Alkami · Apr 16, 2026
“The model assesses the entire universe of a financial institution's account holders on a daily basis to identify those account holders exhibiting behaviors that have historically led to deeper engagement”[9]
Mark Leher · Director, Product Management, Alkami · Aug 9, 2023
Who runs Alkami?
Which rules apply to a bank using Alkami?
| Authority | Why it matters here | Documents |
|---|---|---|
| OCC | Alkami runs a bank's customer-facing digital channel and account opening; OCC Bulletin 2023-17 treats such a provider as a critical third party, and OCC Bulletin 2026-13 covers the vendor predictive models (attrition, cross-sell) a bank uses to target customers. | OCC Bulletin 2023-17 OCC Bulletin 2026-13 |
| Federal Reserve | A Fed-supervised bank must bring Alkami's predictive models under SR 26-2 model-risk expectations and manage the platform relationship, including embedded partners such as BioCatch and Casap, under SR 23-4. | SR 26-2 SR 23-4 |
| FDIC | Most Alkami clients are community banks and credit unions; FDIC-supervised banks manage the platform, its AI partners and the MANTL KYC automation under the interagency third-party guidance. | FDIC FIL-29-2023 |
| NCUA | A large share of Alkami's clients are credit unions, whose use of vendor AI (marketing models, Code Studio) falls under the NCUA's AI examination focus. | NCUA Board AI briefing (Jul 2025) |
| Colorado AI Act | Alkami's 10-K names Colorado's AI Act as a law that will require deployers of 'high-risk' AI systems to guard against algorithmic discrimination, relevant to banks using AI in consequential decisions for Colorado consumers. | SB 24-205 |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness.
What should a bank note before buying Alkami?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice or a recommendation.
01
The AI is mostly marketing analytics
Alkami's generally available AI is predictive scoring for campaigns (cross-sell, engagement, attrition). Its generative-AI product, Code Studio, is a developer tool in limited beta, and the MCP data-access layer is described by Alkami as still evolving.
02
Some AI on the platform is a partner's
Behavioral-biometric fraud detection comes from BioCatch and agentic dispute handling from Casap; the fraud-loss figure ($54 million stopped in 2024) is vendor-reported.
03
Pricing is per user, not per AI feature
Pricing is not published. The 10-K describes per-registered-user pricing on roughly 70-month contracts, and no separate price for AI features is disclosed.
04
No bank on our list is a sourced AI customer
Alkami targets institutions below megabank size, and its named clients are mostly community banks and credit unions. The Citizens Bank that selected MANTL in May 2026 is a $1.4 billion Tennessee community bank, not Citizens Financial Group.
05
Ownership uncertainty ran through 2026
An activist stake, a reported sale process and the September 2026 decision to stay independent (followed by an 18% share drop) are part of the record a buyer signing a multi-year contract may weigh.
What are the alternatives to Alkami?
Q2
Digital banking, fraud (Centrix) and relationship-pricing platform for US banks, with an AI agent layer (Q2 Assistant) and ML fraud models.
Jack Henry
Core, digital (Banno), payments and fraud platforms for community banks and credit unions, adding AI via Google Cloud's Gemini.
Fiserv
Core, card and payments provider adding AI to its platforms: agentOS agents for bank workflows, AI card-fraud decisioning.
FIS
Core, digital and card-processing provider adding AI agents (an Anthropic-built AML agent), AI card-fraud tools and AI lending tools.
Backbase
AI-native Banking OS layered over a bank's core for channels, staff and AI agents; owns Kasisto's conversational AI since June 2026.
nCino
Cloud lending and onboarding platform for banks with gen-AI (Banking Advisor), role-based AI agents (Digital Partners) and credit analytics.
Temenos
Swiss core, digital, payments and wealth banking software with embedded AI copilots, a sanctions-screening AI agent and explainable AI.
How much does Alkami cost?
Alkami does not publish pricing. Its 10-K says it predominantly uses a per-registered-user pricing model on multi-year contracts averaging about 70 months, with incremental fees above contractual minimums. It reported revenue per registered user of $21.69 in Q2 2026, an average across products rather than a price. No separate price for its predictive-AI models or Code Studio is disclosed.
What AI does Alkami offer banks?
Alkami's Data & Marketing Solution uses predictive AI models and AI data tags to score account holders for cross-sell, engagement and attrition risk; it says it runs a dozen models trained on more than 18 billion core transactions. In April 2026 it put Alkami Code Studio, a generative-AI assistant for building platform extensions, into limited beta. Partners such as BioCatch (fraud) and Casap (agentic dispute handling) add third-party AI through the platform.
Which banks use Alkami's AI?
None of the 100 largest US banks tracked on this site is named with a source as a user of Alkami's AI. Alkami serves 301 institutions on its digital banking platform (end-2025), mostly community banks and credit unions; named examples include Gate City Bank (BioCatch) and Patelco Credit Union (Code Studio testing). The Citizens Bank that selected MANTL in 2026 is a Tennessee community bank, not Citizens Financial Group.
Who owns Alkami?
Alkami is a public company listed on Nasdaq (ALKT) since April 2021. Activist investor Jana Partners disclosed a 5.1% stake in April 2026 and pressed for a sale; Reuters reported in August 2026 that Alkami's advisers were contacting private-equity firms. On September 23, 2026 the board ended the review and said Alkami would remain an independent public company.
Is Alkami a bank?
No. Alkami is a software vendor that sells digital-banking, account-opening and data-marketing technology to banks and credit unions. It is not chartered or supervised as a bank; its clients manage it as a third-party provider under their regulators' vendor and model-risk guidance.
Alkami vs Q2: how do they differ?
Both sell digital-banking platforms to US community and regional banks and credit unions. Alkami's AI record centers on predictive marketing models, a generative-AI developer tool in beta and account opening through MANTL, and it prices mainly per registered user. Q2's AI features and customers are covered on its own page; neither publishes prices.
- Alkami Technology, Inc. Form 10-K for the fiscal year ended December 31, 2025
- Alkami Announces Second Quarter 2026 Financial Results (Exhibit 99.1)
- Alkami Announces Conclusion of Strategic Opportunities Review
- Alkami shares fall 18% after strategic review ends without sale
- Exclusive-Alkami kicks off sale process after buyer interest, sources say
- Alkami to Expand GenAI Capabilities with the Launch of Alkami Code Studio
- Alkami Launches Industry-First Digital Sales & Service Platform, Now Live with Financial Institutions
- Alkami's Digital Sales & Service Platform to Usher in Era of Anticipatory Banking
- Alkami Launches First Engagement Artificial Intelligence (AI) Predictive Model for Financial Services Industry
- Predictive AI | Get The Predictions You Need To Grow (undated page, retrieved 2026-09-24)
- Alkami Customers Including Gate City Bank Strengthen Fraud Prevention with BioCatch
- Alkami's Summer 2026 Digital Banking Platform Release
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