Alkami tops credit unions in FI Navigator rankings

Alkami has been ranked the top digital banking provider for credit unions and the fastest-growing provider for banks by FI Navigator. The rankings are based on US retail mobile banking user and client growth data.

FI Navigator found that Alkami led the credit union market by number of enrolled retail mobile banking users. It also identified Alkami as the fastest-growing digital banking provider for banks by net market growth in retail mobile banking client count and deposit accounts.

The findings come as banks and credit unions compete more aggressively for account holders and deposits against larger rivals, including national banks, fintech groups and big technology companies. Independent market data has become a more prominent tool for smaller financial institutions assessing whether investment in digital systems is tied to balance sheet and customer growth.

For credit unions, the data also pointed to longer-term performance among institutions using Alkami's digital banking system. FI Navigator said credit unions that had used Alkami Digital Banking for five years or more outperformed national peer groups across a range of measures.

Those institutions recorded 1.3x asset growth, 1.9x deposit account growth, 2x member growth, 1.7x deposit balance growth, 1.4x revenue growth and 1.4x loan growth compared with peers. The comparison covered institutions that adopted the platform at least five years earlier, offering a longer-term view beyond first-year adoption measures.

Competitive pressure

Community and regional financial institutions often face tighter technology budgets than larger rivals, making vendor selection a strategic decision rather than a routine software purchase. In that environment, rankings tied to user numbers, client wins, and deposit growth can carry weight with executives seeking evidence of commercial impact.

Alkami, based in Plano, Texas, sells a digital sales and service platform to US banks and credit unions. Its products include account opening, consumer and business digital banking, data and marketing tools, payment security, and integrations with outside fintech and service providers.

Its onboarding and account-opening tools include the MANTL product suite and are used across branch and digital channels. Alkami also offers business banking functions for commercial and small business customers, alongside fraud-related payment security tools.

Alex Shootman, Chief Executive Officer at Alkami, linked the latest rankings to broader industry demands on financial institutions.

"Digital banking has become foundational to a financial institution's growth strategy," said Alex Shootman, Chief Executive Officer at Alkami. "The FI Navigator data reflects the confidence our clients place in Alkami as a strategic technology partner and reinforces that both banks and credit unions partnering with Alkami are positioning themselves to compete more effectively. We are committed to helping financial institutions turn digital capabilities into a sustainable competitive advantage."

Market data

FI Navigator describes itself as a US banking data and analytics company focused on business performance, franchise growth, risk management and product development. Its assessment of Alkami's standing in the credit union and bank markets provides an external benchmark in a sector where software providers often rely on product announcements and customer counts to support their market position.

FI Navigator's founder said the data pointed to sustained momentum in Alkami's core markets.

"At FI Navigator, our mission is to provide financial institutions and their partners with business insights that inform strategic decisions, from profitability and franchise growth to risk management and product development," said Curry Pelot, Chief Information Officer and Founder at FI Navigator. "Alkami's continued leadership in credit union market share and momentum in the bank market highlight the value of a digital banking platform that helps financial institutions grow, compete, and better serve their account holders."

Founded in 2009, Alkami serves community, regional and super-regional financial institutions across the US. FI Navigator identified it as the leading credit union digital banking provider by enrolled retail mobile banking users and the fastest-growing banking provider by net market growth in retail mobile banking clients and deposit accounts.