Elevating Digital Banking Solutions with Enhanced Mobile Experiences, Developer Flexibility, and Business-Driven Growth

At Alkami, we are continually working to improve and enrich the experience of our digital banking solutions. This winter, we are excited to unveil a series of updates and product enhancements thoughtfully designed to take your experience with Alkami's digital banking platformto the next level of convenience and innovation in this new year.

For a detailed and comprehensive look at our latest release and roadmap, customers are encouraged to visit the Alkami Community site. These updates are specifically designed to empower your financial institution to accomplish more while reducing the effort required. Continue reading to explore what's new and learn how you can harness these enhancements to elevate your digital banking solutions and deliver greater value to your users.

Convert Retail Users to Business Users

Our analysis revealed that many businesses are managing their operations disguised as retail accounts. This is a prime opportunity for financial institutions to strategically connect with these valuable account holders and convert them to a business account to deliver products and services that fit for their business needs.

We are introducing the ability for authorized financial institution admins to convert retail users to business users directly within the admin portal. This new feature is a game-changer for growing businesses, as it enables them to transition smoothly to advanced business features while retaining their account history and user data. By eliminating the need to start from scratch, this functionality streamlines the user journey, reduces friction, and ensures that businesses can build on their existing foundation without interruption.

Business & Retail Wires: ISO20022 Formatted File

With the Federal Reserve requiring all Fedwire transactions to use the ISO 20022 format by March 10, 2025, we are here to ensure you're fully prepared. In this latest release, Alkami will handle the conversion of both business and retail wires from the existing Fedwire Application Interface Manual (FAIM) FedWire format standard to the updated ISO 20022 format standard.

To help you navigate this significant transition with confidence, we're offering customers early access to beta testing. This invaluable opportunity allows you to explore the updated format, gain hands-on experience, and familiarize your team with the new standards well in advance of the mandatory deadline. This proactive approach ensures that your institution has plenty of time to make necessary preparations, refine internal processes, and verify compliance with minimal stress. By identifying and addressing potential challenges early, you'll avoid the pressures of last-minute adjustments, paving the way for a smooth, seamless, and fully compliant transition that supports your operational objectives and strategic goals.

Debit Card Loan Payments within the Transfer Widget

Through our seamless integration with Alacritiwithin the transfer widget, users can now make one-time electronic payments toward a linked loan by pulling funds directly from a Visaor Mastercarddebit card. This integration offers users a broad array of payment options, channels, and methods, giving them greater flexibility and convenience in managing their loan repayments. With this enhancement, end users can effortlessly link their debit cards through the "Add an Account" screen, enabling smooth and secure transfers from external accounts via the Transfer widget.

With funds settling for financial institutions within just two business days, this feature empowers financial institutions to provide instant money movement options. At the same time, it ensures users have access to an easy, efficient, and reliable way to take control of their finances.

One-Click SDK Manager

In our ongoing pursuit to elevate and enhance the developer experience for our customers, we are improving and streamlining the code submission experience for users of the Alkami Software Development Kit (SDK). With our One-Click SDK Manager, upon code submission, the system automatically checks and confirms if the submission meets the proper requirements. It provides immediate feedback on validations and highlights any dependency issues in real time, eliminating guesswork and delays. This feature saves hours of development time, giving your development team the speed and flexibility to bring new code to market and stay competitive.

These improvements to our Alkami SDK are the first to an iterative approach we are taking to improve the SDK workflow across submission, deployments and management.

Building Better Digital Banking Solutions in 2025

If you have any questions, need additional details, or want to dive deeper into how these updates can benefit your financial institution, we encourage you to connect with your dedicated Customer Success Manager or reach out to our Sales team. Thank you for choosing Alkami as your trusted partner in digital banking innovation. We look forward to continuing the partnership with you in 2025!

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