Alkami explores sale amid activist investor pressure

By Milan Rojan

US-based digital banking technology provider Alkami Technology has reportedly launched a formal sale process after attracting interest from potential buyers.

People familiar with the matter have said Alkami’s advisers began approaching private equity firms within the past week. The discussions have remained at an early stage, however, and there has been no guarantee that a transaction will be completed.

Financial terms have not been disclosed, although Alkami has been valued at approximately $2 billion based on its current market capitalisation.

The reported sale process has followed pressure from activist investor Jana Partners, which has held a stake of around 5% in the company. Bloomberg previously reported that Jana Partners had sent a letter to Alkami’s board, arguing that earlier efforts to explore a sale had been hindered by the company’s approach to potential transactions and valuation expectations.

Founded in 2009, Alkami has provided cloud-based digital banking technology to US banks and credit unions. Its platform has included digital account opening, online and mobile banking, fraud protection, data analytics and marketing capabilities.

The company has continued to expand its presence among financial institutions, securing new customers during 2026. Its client base has included Clear Mountain Bank, State Bank of Texas and BankCherokee.

Alkami has also expanded its technology capabilities through acquisitions, including its purchase of digital account opening provider Mantl for $400 million, a deal that has strengthened its onboarding and account-opening offering.

The potential sale has emerged as financial institutions have continued investing in digital banking infrastructure and cloud-based technology. For Alkami, a transaction could provide a new ownership structure as it has sought to scale its platform and expand its position in the US financial technology market.