back Back

Alkami & Atomic team to offer direct deposit solution for financial institutions

By Delisha Fernandes

September 04, 2023

  • account holders
  • Alkami
  • Atomic
Share

Alkami, Atomic, Direct Deposit, Financial Institutions, payroll accounts, Digital Banking Platform, account holders, FinTech news, FinTech USAAlkami Technology, (Alkami), a cloud-based digital banking solutions provider for financial institutions in the US, has partnered with Atomic, a provider of payroll connectivity, to offer direct deposit switching solution that allows account holders to seamlessly connect their payroll accounts to any financial institution.

“We are excited to partner with Atomic to offer our customers this valuable solution,” said Adam Craig, vice president, corporate development. “The true power of the Alkami platform is in the extensibility it offers financial institutions to grow with best-in-class partners and solutions like Atomic. Fintech partnerships like these give financial institutions the tools they need to earn primary financial institution status and maintain that status as they scale to meet the growing needs of their account holders.”

As part of the partnership, Atomic’s direct deposit switch solution will be integrated into Alkami’s Digital Banking Platform. This will make it easier for community and regional financial institutions to offer their account holders a quick and convenient way to set up and switch direct deposits, further helping financial institutions to grow direct deposits, account acquisition, and primary relationships. This enhancement eliminates paper processes, significantly decreases wait times often incurred with traditional methods, and reduces the cost of deposit acquisition.

“We are thrilled that Alkami chose Atomic to offer our direct deposit solution to their growing customer base,” said Jordan Wright, co-founder and chief executive officer of Atomic. “Direct deposits are a major driver of account growth and profitability for financial institutions. In fact, we’ve seen financial institutions who leverage Atomic experience as much as a 50 percent lift in direct deposit conversion. We believe the Atomic Deposit plug-in will quickly become a core component for financial institutions as they continue to scale with Alkami’s lineup of best-in-class partner solutions.”

Previous Article

September 01, 2023

Southern Trust Insurance taps Duck Creek Technologies to scale operations

Read More
Next Article

September 04, 2023

Arab Financial Services launches AFS Pay tap to phone service in Bahrain

Read More






IBSi Daily News Analysis

June 13, 2024

account holders

Are payroll and financial statement fraud dual challenges facing UK SMEs?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Flexys partners with Acquired.com for debt collection

Read More

Today

Trustly launches new AI-powered recurring payments solution

Read More

Today

Regions Bank & BILL launch CashFlowIQ to optimize the payment and billing processes

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023