Alkami Unveils New Research on Business Banking Digital Maturity

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[{"type":"text","content":"Survey reveals four segments of business banking digital maturity in financial institutions and key growth opportunities\nPLANO, Texas, Nov. 20, 2024 /PRNewswire/ -- Alkami Technology, Inc. (Nasdaq: ALKT) (\"Alkami\"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., in partnership with industry expert Jim Marous and the Emerald Research Group, announced today the release of a comprehensive new study on business digital maturity in banking. The study surveyed 150 digital decision makers operating in business banking solutions from banks and credit unions across the U.S., revealing distinct segments of business digital maturity based on how financial institutions leverage culture, strategy, and technology to drive results.\n\n \n \n \n \n \n \n\n \n\"The most digitally mature financial institutions in business banking are defined by their culture, which informs everything from strategy to execution. Their mindset dictates the toolset and skillset that, in combination, are strongly correlated with better products, faster execution, and higher revenue growth than their peers,\" said Allison Cerra, chief marketing officer at Alkami.\nKey findings from the research include:\nA strong correlation between digital maturity and revenue growth, where financial institutions leading in digital maturity are growing at nearly 10 times the rate of their less advanced counterparts.Three foundational pillars that define business digital maturity: user experience (UX), employee productivity and mindset/culture.Financial institutions that prioritize digital investment and execution are more likely to view megabanks as their primary competitors and to quickly close gaps in their digital offerings.Digital maturity leaders often skew larger in asset size, however, one in five leaders has less than $1 billion in assets, showing that smaller institutions can outperform larger ones.Conversely, over one in five of the least digitally mature financial institutions hold more than $10 billion in assets, proving that size alone does not ensure digital leadership.Research analysts benchmarked the financial institutions in the study, and categorized them into four cohorts of maturity, each with a clear strategic path for progression in their digital maturity. Whether it's investing in critical technologies, optim...

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