PLANO, Texas, Nov. 2, 2021 /PRNewswire/ -- Alkami Technology Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for U.S. banks and credit unions, has announced STAR Financial Bank ("STAR Bank") as its first client to empower customers with trading systems that allow the purchase, sale, and secure storage of bitcoin, powered by NYDIG. STAR Bank is the first bank in the state of Indiana to offer bitcoin trading services to customers.
"STAR Bank is committed to providing personalized banking solutions through the innovative use of technology to support people on their financial journey. We want our customers to feel confident and competent engaging with emerging investment opportunities. That's why we are excited to offer fully integrated bitcoin services in our mobile app leveraging the robust Alkami Platform," said Brian Avery, vice president, technology and digital strategy, STAR Bank.
Traditionally, end-users have been required to establish new financial relationships to manage their crypto holdings – often with unregulated entities. Now, they will have an option to acquire, sell, hold, and manage bitcoin alongside their traditional assets. In turn, FIs have a path to generate new, non-interest income and an additional opportunity to retain and attract customers and their deposits. NYDIG's platform enables FIs to seamlessly offer their customers and members bitcoin products and services in a manner that meets the highest regulatory standards.
"Alkami helps financial institutions achieve digital banking success by delivering the most advanced cloud-based digital banking platform on the market. Early technology adopters appreciate the importance of embracing Bitcoin opportunities," said Stephen Bohanon, founder and chief strategy and sales officer, Alkami. "We are privileged to help STAR Bank remain on the forefront of digital banking by providing their valued customers with a streamlined entry ramp to buy, sell, and manage bitcoin under the trusted STAR brand."
Alkami recently announced the addition of NYDIG to its Gold Partnership Program providing proven third-party solutions on the Platform. Partners represent exclusive technologies that have been rigorously vetted before being recommended to the Alkami client community. STAR Bank customers now have the option to buy, sell, and hold bitcoin alongside traditional accounts by easily accessing NYDIG's secure, regulated, full-stack bitcoin platform embedded in the Alkami Platform.
Patrick Sells, chief innovation officer, NYDIG said: "Being able to log into the STAR mobile app and purchase bitcoin is simply a game-changer and means the future of bitcoin and banking has now arrived. Personally, this is a deeply satisfying accomplishment as STAR Bank was my hometown bank growing up in Indiana. I couldn't be more excited for STAR, the Hoosiers they serve, and the amazing platform Alkami has built."
Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. The Alkami Platform is the digital banking and fraud mitigation platform of choice for over 260 financial institutions. Alkami's investments have resulted in a premium platform that has enabled it to replace older, larger and better-funded incumbents and provide clients with world-class experiences reflecting their individual digital strategies. To learn more about Alkami or to request a demo, visit alkami.com.
STAR Financial Group, Inc. headquartered in Fort Wayne, Indiana is the holding company of STAR Financial Bank. STAR is committed to delivering quality financial expertise and distinctive banking solutions to exceed customer expectations. In addition, STAR Private Advisory offers private banking, investment and fiduciary services. STAR Financial Group has grown to $2.8 billion in assets with locations across central and northeast Indiana. For more information, visit www.starfinancial.com.
NYDIG is a bitcoin company powering a more inclusive economic system. Delivering technology and financial services to banks, fintechs, insurers, and corporations, its full-stack bitcoin platform is built to the highest security, regulatory, and operational standards. NYDIG is the gateway to a new era of financial products that make bitcoin more accessible for all. Learn more at nydig.com, or connect on LinkedIn and Twitter.