Alkami Technology, Inc. (Nasdaq: ALKT), the cloud-based digital banking solutions provider, shared a significant upgrade to the Data & Marketing Solutions offering. This latest innovation adds to Alkami’s extensive behavioral data tag offering, the market leader for financial institutions seeking greater insight into account holder behavior. Such enhanced features facilitate better management of self-service and customer communication via digital products used in banking and marketing systems and services, leading to increased client retention and revenues.
The boost occurs when banks and credit unions are increasingly tasked with delivering best-in-class digital CX and utilizing AI-based solutions to create competitive advantage. According to research, 44% of consumers who get more personal services from their providers through their digital banking also wish to use these services in the U.S. To this challenge, Alkami’s behavioral data tags fit the bill by condensing sizable amounts of data and the results from such data into providing a clear understanding of insights regarding account holder behaviors that financial institutions will have to implement new strategies for.
Advanced Behavioral Data Tags
The enhanced suite of behavioral data tags includes:
- SavvyMoney Data Tags: Embed data and findings from the SavvyMoney offers engine into marketing communication and promotion strategies in all forms of media.
- Aggregated Account Data Tags: As a result, displaying the general picture of the account holders’ external accounts enables institutions to build more comprehensive competitive relationship maps that will help retarget customers with the most relevant offers.
- Anniversary Data Tags: As for key accounts, one should amplify the summaries there and be able to hit customers with offers or PPI promoting on their behalf.
- Outbound Transfer Data Tags: Monitor funds transfers to other institutions to enhance understanding of the patterns of withdrawals from the banks. Thus, it induces awareness of campaigns on how the customers can be retained.
“Behavioral data tags allow financial institutions of all sizes to find meaningful insights from large data sets and utilize that information to understand account holder behaviors, make informed business decisions and even find competitive advantages,” said Mark Leher, director of product management at Alkami. “These insights can be leveraged across digital, mobile, and in-person channels to support a more personalized banking experience.”
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