Business
Alkami Releases the 2024 Strategies and Budgeting Playbook for Financial Institutions
Research-driven insights lay the groundwork for banks and credit unions to gain competitive standing in year ahead PLANO, Texas, Oct. 18, 2023 /PRNewswire/ --
About this update from Alkami Technology, Inc.
[{"type":"text","content":"Research-driven insights lay the groundwork for banks and credit unions to gain competitive standing in year ahead\nPLANO, Texas, Oct. 18, 2023 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) (\"Alkami\"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., today announced the release of its 2024 Strategies and Budgeting Playbook for Financial Institutions, which explores the opportunities and challenges that lie ahead for the financial industry, and offers strategies from peers, industry experts and thought leaders, including Marc DeCastro, Brett King, Jim Marous, Jim Perry, and Ron Shevlin. Alkami's 2024 Playbook comes ahead of what is being called a \"crossroads year\" for the industry, when factors like increasing compliance and fraud issues and competition for deposits are expected to coalesce and make it more urgent than ever that financial institutions provide heightened user experiences, personalized offers via account holder data, and a market-leading digital banking user experience.\n\n \n \n \n \n \n \n\n \n\"This playbook differentiates itself from others by presenting accessible and practical advice, serving as a toolkit and decoder for financial institutions looking to navigate shifting industry challenges,\" said Ron Shevlin, chief research officer, Cornerstone Advisors, senior contributor at Forbes and 2024 Playbook contributor.\nAccording to the 2024 Playbook, the radical transformation that the banking industry has undergone in recent years will only accelerate. Financial institutions also face a number of pressing challenges in 2024, outlined in the playbook. The economic outlook continues to be uncertain, impacting households across income levels and potentially affecting their banking decisions. Protecting account holder data while safeguarding financial institutions' ecosystems is also an increasingly uphill battle, particularly as fraud targeting payment systems becomes more sophisticated. At the same time, the Generation Z (Gen Z) customer base continues to be difficult for financial institutions to fully acquire, as Gen Z is less likely to be loyal to a financial institution, instead preferring to cherry-pick solutions.\nIn the face of these industry challenges and ongoing volatility, Alkami's 2024 Playbook suggests that, rather than being a hindrance t...