Plano-based Alkami Technology Inc., a leading cloud-based digital banking solutions provider for U.S. financial institutions, announced that the company has finalized its acquisition of San Diego, California-based MK Decisioning Systems LLC, also known as MK Decision, a technology platform and provider for digital account opening, credit card and loan origination solutions. With the acquisition, Alkami is expected to expand its total addressable market while gaining new cross-selling opportunities among a larger installed base.
“Alkami understands just how critical our digital banking platform is to our clients’ continued success in meeting the needs of their users,” says Mike Hansen, Alkami’s CEO. “To that end, MK’s solutions unlock digital account opening and loan origination innovations on a single, cloud-based platform that delivers capabilities previously reserved for the largest technology companies, megabanks and fintechs in the market. We are excited and honored to join forces with the MK team and its clients as we continue democratizing digital banking technology for the benefit of U.S. consumers and businesses.”
“MK is overjoyed to join forces with Alkami as we accelerate our shared mission to strengthen local and regional financial institutions and the economies they serve,” says Har Rai Khalsa, CEO of MK Decision. “The banking journey starts with the first account a consumer opens—whether it be a deposit or loan account. By integrating MK’s onboarding and decisioning solutions, Alkami has extended the digital banking journey from website and account opening to core and digital banking.”
All employees from the newly acquired MK Decision, located in San Diego and across the U.S., have been retained by Alkami as part of the transaction. Khalsa will serve as vice president and general manager of the newly formed digital account opening and loan origination solutions team within Alkami.