Alkami Technology, Inc. has announced significant progress in its collaboration with Texans Credit Union, based in Richardson, Texas, which serves over 150,000 members. A new case study reveals that following its transition to Alkami's Digital Banking Platform, Texans has experienced a 42% increase in active digital banking users, an improvement in net promoter score from 73.6 to 89.4, and has doubled the number of online account openings.
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Texans leveraged Alkami's platform not only for digital banking but also for onboarding through MANTL Onboarding & Account Opening, enhancing user experience with Alkami’s software development kit (SDK) and integrating fintech solutions. These advancements have allowed Texans to customize its digital offerings while responding effectively to member needs and rapidly introducing new services.
Mike McWethy, executive vice president at Texans Credit Union, emphasized that Alkami provided more than just a platform; it established a partnership that has enabled the credit union to enhance member engagement significantly. The focus, according to McWethy, is on delivering valuable experiences that encourage members to interact with the credit union more frequently. By making processes more efficient and providing relevant insights, Texans is better positioned to deepen relationships and foster growth over time.
In addition to increasing digital engagement and member satisfaction, the credit union achieved remarkable operational efficiencies. The average time to open an account has dropped to around 5.7 minutes across all channels, while in-branch account openings have become five times faster. This streamlined process has resulted in over 1,200 applications and nearly $11.5 million in deposits within the first six weeks of using the MANTL platform.
Benjamin Conant, chief product officer at Alkami, noted that Texans’ approach illustrates the advantages of using a platform conversion as the foundation for an expansive growth strategy. By integrating various components such as onboarding, digital banking, and partner technologies, Texans has gained significant flexibility to enhance its offerings and achieve measurable growth.
For more details about Texans Credit Union's advancements and outcomes stemming from its partnership with Alkami, visit their official website.