Alkami Tech Acquires ACH Alert in Fraud Prevention Expansion
Two long-time credit union tech-servicing organizations join together.
Digital banking solutions provider Alkami Technology, Inc. announced the acquisition of ACH Alert in order to grow Alkami’s fraud prevention competencies.
Alkami, headquartered in Plano, Texas, made the acquisition announcement on Tuesday.
According to its website, the fraud prevention organization, ACH Alert was founded in 2008 “to make ACH transactions safer and dispute resolution completely automated.” ACH Alert has provided fraud prevention services directly to credit unions and community banks.
In a press release, Alkami stated that the acquisition extends its innovative, omni-channel platform to include enhanced fraud prevention and secure money movement functionality.
“We are excited to expand our platform to include market-leading fraud prevention capabilities further supporting the needs of the business clients of FIs,” Alkami CEO Mike Hansen said. “ACH Alert provides FIs with a seamless solution that eliminates the flaws and inefficiencies in existing processes. These inefficient, paper-based processes not only undermine customer adoption and profitability, but also lead to a higher incidence of fraud. Alkami continues to be the go-to partner for FIs wanting to accelerate their digital strategies, plans and results. Together with ACH Alert, we expect to continue to create and deliver winning digital solutions to our clients and their consumer and business digital users.”
According to the announcement, ACH Alerts was founded to help credit unions and community banks make ACH transactions safer and have dispute resolution completely automated.
“Through its two main solutions PRO-TECH and PRO-CHEX, it has proven that fraud prevention doesn’t have to be a costly proposition or cause friction with an FI’s business clients, customers or members. Current treasury services and payment protection processes – specifically check positive pay, ACH debit blocks and filters, wire transfer protection and EDI translation – are ripe for improvements that can be implemented relatively easily. These services are often revenue-generators for the FIs offering them, and they are effective fraud prevention and information-reporting tools for clients,” the statement said.
“The ACH Alert team is extremely excited to join forces with Alkami,” Debbie Peace, CEO of ACH Alert, said. “Alkami’s mission to be the gold standard in banking combined with their core cultural values are a fantastic fit for our team as we continue to provide FIs and their business banking clients a seamless positive pay platform with robust fraud prevention capabilities.”
Leveraging ACH Alert’s solutions, Alkami will provide a platform to financial institutions of all sizes enabling them to increase revenue, reduce complexity and improve fraud prevention.