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The lean, mean banking software machine worth $2bINTL

The lean, mean banking software machine worth $2b

Banking software provider Alkami Technology is targeting a $150m public market debut in the US, which could shoot its valuation up to $2b. The Texas-based firm is known for supplying cloud-based software that lenders can build on to transform and expand their online banking operations, without needing to completely overhaul existing systems.

Alkami’s software is currently being used by over 160 financial institutions, mainly made up of smaller banks that might need the extra technology ‘oomph’ to compete against the larger players.

why it matters
Fellow financial cloud-based software provider nCino (NCNO) went public last year and shares absolutely skyrocketed on the first trading day. We guess that the coronavirus pandemic highlighted the need for financial firms to ensure secure and user-friendly digital platforms — and it if you can't build it, buy it!