Empowers financial institutions to grow
relationships with their most engaged account holders
PLANO,
Texas, Aug. 9, 2023 /PRNewswire/ -- Alkami
Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading
cloud-based digital banking solutions provider for
financial institutions in the U.S., has developed and launched an
Engagement AI Model via its AI Predictive Modeling solution.
The new model—the first of its kind in the industry—combines
artificial intelligence (AI), machine learning (ML), and Alkami's
proprietary Key Lifestyle Indicators® (KLIs) empowering financial
institutions to identify account holders who demonstrate behaviors
most likely to lead to retention and account growth, and increase
their engagement with products, service offerings and digital
channels.
Financial institutions can use an attrition model to identify
account holders that have a high risk of leaving, allowing the
institution a chance to develop win-back strategies. According to
Alkami's internal research, account holders who score the highest
risk for attrition are, on average, 15x more likely to leave a
financial institution than account holders who score as highly
engaged. Alkami's Engagement AI Model inverts their attrition model
so financial institutions can focus their time and budget where it
matters most—in retaining and growing their engaged account
holders.
"When we looked at the full spectrum of attrition scoring, our
research showed that attrition is significantly lower among highly
engaged account holders, so we developed a model that not only
identifies these highly engaged account holders but also layers
in Alkami's KLIs—labels describing the type of transaction or
behavior a customer or member engages in—to best predict which
behaviors drive incremental engagement," said Mark Leher, director, product management at
Alkami.
"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," Leher continued. "This allows the
financial institution to auto-surface highly relevant campaigns
that are more effective at driving growth. Not only does this save
on account acquisition costs, but it also empowers the financial
institution to engage with those who are more likely to take action
on a targeted campaign."
For more information on Alkami's Data & Marketing Solutions,
visit Alkami's website.
About Alkami
Alkami Technology, Inc. is a leading cloud-based digital
banking solutions provider for financial institutions in
the United States that enables
clients to grow confidently, adapt quickly, and build thriving
digital communities. Alkami helps clients transform through retail
and business banking, digital account opening, payment security,
and data analytics and marketing solutions. To learn more,
visit www.alkami.com.
Media Relations Contact
Marla
Pieton
marla.pieton@alkami.com
Katie Schimmel
katie@outlookmarketingsrv.com
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SOURCE Alkami Technology, Inc.