The assessment, which is free to take and available now, is the first of its kind in the financial services industry and was built exclusively for financial institutions.
Alkami Technology, Inc., a cloud-based digital banking solutions provider for financial institutions in the U.S., launched the Alkami Digital Sales & Service Maturity Model Assessment, enabling banks and credit unions to quickly and easily assess their digital maturity, and then arming them with tools to take action on their results. The assessment, which is free to take and available now, is the first of its kind in the financial services industry and was built exclusively for financial institutions. The foundation of the tool is the Alkami Digital Sales & Service Maturity Model, which was developed based on recently released research conducted across 215 U.S. financial institutions with at least $200 million in assets.Â
To assess digital maturity, the tool asks financial institutions to answer five questions that were found to be the most determinant in the research in measuring digital maturity across banks and credit unions. After completing the online assessment, financial institutions are categorized into one of four segments on Alkami’s digital maturity spectrum: Patiently Exploring, Innovation-Ready, Digital-Forward, and Data-First. They are also provided with actionable guidance on a path forward and where to focus business operations based on their segment. For example, financial institutions found to be ‘Innovation-Ready’ are encouraged to broaden their digital banking user experience to include speed, enhanced capabilities, and personalization. Incorporating data as a strategy and focusing on streamlining the digital account opening experience will better position them to serve those account holders.
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“We are committed to listening to our clients, and the Digital Sales & Service Maturity Model Assessment is a direct response to their feedback. Financial institutions today want to understand where they are in their digital journey and where they should focus their time and budget, but before now, no resources existed in the market to quickly answer these questions,” said Allison Cerra, chief marketing officer at Alkami. “We are proud to provide this tool for growth-focused financial institutions to easily obtain data-backed insights reflecting where they fall in the market in terms of digital maturity and clear steps they can take to progress their digital banking offerings.”
Tu Du, vice president – of digital technology at HawaiiUSA Federal Credit Union said, “Having access to an industry-first self-assessment tool that measures digital maturity is critical for financial institutions across the industry, as we all strive to better meet our account holders’ digital needs. As a Hawaii-based credit union, this tool has provided a way to not only benchmark our institution’s level of maturity against the market but also deliver a clear view that mindset and toolset are the foundational elements of the most mature organizations across financial services.”
“In this increasingly competitive landscape for banks and credit unions, digital channel offerings are critical to meet account holders where they want to transact,” said Kelly Mobley, assistant vice president of digital banking at Vantage West Credit Union. “To properly grow and invest in these channels, financial institutions must have clear steps to follow at each stage of their digital journey. With the digital maturity assessment from Alkami, we can obtain a measurement of where we stand, and learn tactics to continue progressing our digital banking sophistication forward.”
The previously announced Digital Sales & Service Maturity Model research study was published in partnership with Emerald Research Group and financial services influencer Jim Marous and delves into each segment across the digital maturity spectrum as well as how financial institutions can begin to build toward higher levels of digital maturity.
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