#United States #digital banking #Alkami Technology #Richardson #Texans Credit Union

Texans Credit Union Embraces Digital Transformation with Alkami

In the rapidly changing financial landscape, where digital engagement is key to retaining customers, Texans Credit Union, based in Richardson, Texas, has achieved remarkable success by partnering with Alkami Technology, Inc. This collaboration has resulted in a staggering 42% increase in active digital banking users in a short period. A recent case study by Alkami outlines how the credit union not only improved user engagement but also enhanced member satisfaction, making strides in operational efficiency and growth initiatives.

Transitioning to Alkami's Digital Banking Platform

Texans Credit Union made a pivotal decision to shift from its previous digital banking provider to Alkami's Digital Banking Platform. This transition was not merely a change in software; it represented a comprehensive strategy aimed at advancing innovation and broadening growth horizons. The credit union embraced MANTL Onboarding Account Opening, allowing them to streamline application processes through both digital and in-branch channels.

With Alkami's powerful Software Development Kit (SDK), Texans has been able to create differentiated experiences that align with member needs. Partnerships with fintech solutions have also expanded the range of services offered, from money transfers to fraud protection. Alkami has empowered Texans to customize its digital banking experience, enabling them to respond to evolving member expectations efficiently.

Measurable Results

The results following the transition have been impressive:
1. Increased Digital Engagement: Following the implementation of Alkami's platform, Texans Credit Union saw a 42% rise in active digital banking users, all while achieving an outstanding 4.8-star rating on the App Store.
2. Improved Member Satisfaction: The credit union's net promoter score (NPS) skyrocketed from 73.6 to 89.4, showing a substantial enhancement in member satisfaction post-transformation.
3. Accelerated Online Account Growth: Texans doubled the number of online accounts opened during the first month after introducing MANTL, reflecting the effectiveness of the new onboarding process.
4. Streamlined Account Opening: With an average account opening time of approximately 5.7 minutes, the experience has become notably faster, with in-branch processes seeing up to a fivefold increase in efficiency.
5. Early Deposit Accumulation: In the first six weeks post-MANTL implementation, Texans secured over 1,200 applications and nearly $11.5 million in deposits.

Commitment to Member Engagement

Mike McWethy, Executive Vice President of Texans Credit Union, expressed the importance of this partnership with Alkami, indicating that their goal extends beyond acquiring more digital users. **