Banking Digital News

SavvyMoney and Alkami Celebrate an Exciting Partnership Milestone of 100 Banks and Credit Unions

SavvyMoney and Alkami Celebrate an Exciting Partnership Milestone of 100 Banks and Credit Unions

A shared commitment to promoting consumer financial wellness has powered the partnerships growth and success

SavvyMoney, the leading provider of innovative credit score solutions, and Alkami, the leading provider of cloud-based digital banking solutions for banks and credit unions in the U.S., recently signed their 100th shared customer, an exciting milestone in their rapidly expanding partnership. Since its launch in 2019, the number of Alkami digital banking clients choosing SavvyMoney as their credit score solution has grown steadily.

Beyond sharing a customer base of financial institutions, the organizations also share an unwavering commitment to promoting consumer financial wellness, which powers the partnership’s steady growth and success. Alkami’s clients offer tremendous value to their over 13.7 million digital banking users.

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SavvyMoney’s president and CEO, JB Orecchia elaborated on this further, “Both SavvyMoney and Alkami are committed to delivering our joint clients an unparalleled digital banking experience that prioritizes transparency, trust, and overall financial wellness. We are proud of what we’ve accomplished in the past three years with Alkami and look forward to the many exciting partnership milestones yet to come as we continue to invest in and grow this relationship for many years ahead.”

SavvyMoney’s innovative solution allows banks and credit unions without a proprietary credit score solution to offer unlimited, real-time access to credit score and reporting information to their clients. Beyond credit score visibility, SavvyMoney’s innovative, highly interactive solution delivers unique, value-added benefits, including: monitoring and alerts, educational content, interactive savings and loan calculators, and personalized loan offers. SavvyMoney helps consumers make more informed financial decisions by increasing credit awareness and digital engagement, saving them money, and improving their overall financial well-being. SavvyMoney reports that 38% of digital banking users who enrolled in SavvyMoney through the Alkami partnership improved their credit scores a full tier.

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In addition to the value SavvyMoney delivers to the financial institutions’ end users, the credit score solution delivers tangible value to the banks and credit unions themselves in the form of credit data, analytic tools, and digital marketing capabilities, along with extensive tracking and reporting functionality. By leveraging real-time data to drive highly targeted and personalized digital marketing strategy, Alkami’s clients can efficiently and successfully increase share of wallet and improve customer retention.

Alkami’s co-founder and chief strategy and product officer, Stephen Bohanon had this to say about the partnership, “At Alkami, we take great pride in bringing our clients best-in-class digital banking solutions through the power of partnerships. The SavvyMoney solution on the Alkami Platform has provided our shared clients with immediate and on-going value. We look forward to adding many more joint clients in the future.”

The Alkami clients that adopted SavvyMoney cite the product’s ease-of-implementation, user friendly interface, and excellent customer service as reasons for their decision. As Matthew Tully, VP of Marketing for Credit Union of Southern California (CU SoCal), an Alkami digital banking client, noted, “SavvyMoney’s solution not only transforms credit score data into actionable insights, but the partnership team has been invaluable in helping us leverage these insights to drive tangible results. Whether it’s working closely with our own team to implement successful marketing campaigns or teaching us the value of a tactic like retargeting, they have proven themselves a solid partner over the years. We feel like they are an extension of the CU SoCal team.”

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