Banking software provider Alkami Technology has announced it has selected Goldman Sachs to lead preparations for its planned initial public offering (IPO), which may value it at $3 billion.
The pandemic has made the need for digital banking platforms clear, however the complexity of developing these can lead smaller institutions to third party providers.
Investors are said to include General Atlantic, D1 Capital, Fidelity, and the Plano, a Texas-based firm that connects cloud-based platforms to financial institutions, according to Reuters sources.
Alkami reported annual recurring revenue of $130 million in September and claims to have 160 financial institutions as customers on its website.
Alkami last raised funding in September, taking $140 million at an unknown valuation from private investors.
Neither Goldman Sachs nor Alkami have provided comments, the sources which spoke to Reuters requested anonymity.
Latest News
-
BBVA to roll out genAI tools for 100,000 employees in partnership with Google
-
Qonto applies for banking license in France
-
FCA expands bullying and harassment rules beyond banks to 37,000 firms
-
Zopa opens Manchester office with plans for 500 jobs
-
Government plans new tools to help FinTechs navigate complex regulation
-
Paxos launches dollar stablecoin in the EU
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories