Stephen Bohanon | Alkami Co:lab 2024 Keynote

This year at Alkami Co:lab 2024, Stephen Bohanon, Alkami's Founder & Chief Strategy Officer, reflected on the significant growth and transformation he’s seen among Alkami’s customer base and technology since the inception of Alkami’s digital banking platform and initial user conference. Over the past nine years, Alkami’s customer base has grown tremendously to include over 650 banking clients and 18 million users on their digital banking platform. Bohanon emphasized the critical role of investors and customers in this success, noting a substantial increase in their R&D budget from $10 million in 2015 to over $80 million today, enabling Alkami to deliver innovation to their customer base. Bohanon emphasized Alkami’s strategic vision to deliver a next-generation digital sales and service platform that increases revenue and lowers costs for financial institutions. With the banking industry facing consolidation, regulatory pressures, and technological challenges, he predicted a potential reduction of 1,700 to 3,000 financial institutions by 2030, creating a more competitive landscape for financial institutions.
Bohanon outlined the traits that will define successful financial institutions in 2030: availability, reliability, convenience, performance, intuitiveness, and security. To support financial institutions in this initiative, Alkami is investing in technologies such as deployments, self-healing architecture, and autoscaling with Kubernetes to achieve these goals. In the realm of payments, Bohanon highlighted the need for instant transactions across various contexts and the importance of future-focused fraud mitigation strategies, including passwordless authentication and pre-registered biometric devices. He also underscored the significance of diversification, particularly in business banking solutions, and the pivotal role of data in driving revenue, growth, and engagement among account holders. Bohanon concluded by expressing gratitude for the audience's partnership and trust, looking forward to a future of continued innovation and growth for Alkami.
Interested in learning more about Alkami's digital banking solutions? Visit: alkami.com.