Alkami Launches First Engagement Artificial Intelligence (AI) Predictive Model for Financial Services Industry
August 09, 2023 at 10:01 am EDT
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Alkami Technology, Inc. has developed and launched an Engagement AI Model via its AI Predictive Modeling solution. The new model?the first of its kind in the industry?combines artificial intelligence (AI), machine learning (ML), and Alkami's proprietary Key Lifestyle Indicators® (KLIs) empowering financial institutions to identify account holders who demonstrate behaviors most likely to lead to retention and account growth, and increase their engagement with products, service offerings and digital channels. Financial institutions can use an attrition model to identify account holders that have a high risk of leaving, allowing the institution a chance to develop win-back strategies.
According to Alkami's internal research, account holders who score the higher risk for attrition are, on average, 15x more likely to leave a financial institution than account holders who score as highly engaged. Alkami's Engagement AI Model inverts their attrition model so financial institutions can focus their time and budget where it matters most?in retaining and growing their engaged account holders.
Alkami Technology, Inc. is a cloud-based digital banking solutions provider for financial institutions in the United States. It helps clients transform through retail and business banking, digital account opening, payment security, and data analytics and marketing solutions. Its solution, Alkami Digital Banking Platform, offers an end-to-end set of digital banking software products. Its platform integrates with core system providers and other third-party fintech providers, and acts as the primary interaction point among consumers, businesses and financial institutions. Alkami Digital Banking Platform allows financial institutions to onboard and engage new users with the support of a cloud-based, multi-tenant architecture. Alkami Digital Banking Platform provides financial institutions with a complete digital banking solution designed to facilitate and meet the needs of both retail and business users. Its 10 product categories encompass 33 products and more than 300 integrations.