Troubling Trends In Digital Banking: Does Digital Impact Bank Profits? [Forbes]
Alkami Technology, Inc. (ALKT)
Company Research
Source: Forbes
that digital banking is having on banks reveals some positive developments, but also a host of troubling trends that should give bank executives cause for concern. The fourth edition of the study from Cornerstone Advisors, commissioned by Alkami, captures digital banking metrics from banks and credit unions that reflect spending levels, the impact of digital investments, user adoption and usage of digital services, and how efficiently digital services are delivered by financial institutions. Bank's Digital Spending is Through the Roof For the second straight year, spending on the digital channel and digital technologies has nearly doubled. In 2021, digital investments averaged roughly $220,000 per $1 billion in assets. That number grew to $425,000 in 2022, and nearly doubled again in 2023 to $780,000. With banks' current focus on cost containment and reduction, it's surprising to see this increase. Some of the participating financial institutions in the study reported more tha
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News
- Alkami Technology, Inc. (NASDAQ: ALKT) had its price target raised by analysts at Craig Hallum from $30.00 to $31.00. They now have a "buy" rating on the stock.MarketBeat
- Alkami Technology, Inc. (NASDAQ: ALKT) had its price target raised by analysts at Needham & Company LLC from $30.00 to $32.00. They now have a "buy" rating on the stock.MarketBeat
- Alkami Announces First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- Alkami Announces First Quarter 2024 Financial ResultsGlobeNewswire
- Alkami Releases Digital Banking Performance Metrics Report in Partnership with Cornerstone Advisors [Yahoo! Finance]Yahoo! Finance
ALKT
Earnings
- 5/1/24 - In-Line
ALKT
Sec Filings
- 5/2/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/15/24 - Form 4
- ALKT's page on the SEC website