Alkami sells cloud-based digital banking software to U.S. banks and credit unions — primarily community, regional, and super-regional financial institutions (FIs) that are too small to build their own technology. Alkami's core product, the Digital Banking Platform, is the primary digital interface between an FI and its account holders, covering balance management, payments, card management, and product applications across desktop, mobile, and SMS. Beyond the core platform, Alkami has expanded into two adjacent products: MANTL (acquired 2025), which handles digital and in-branch account opening and loan origination, and Segmint (acquired 2022), which provides data analytics and targeted marketing tools. Alkami markets all three together as its "Digital Sales & Service Platform." Revenue is ~95% subscription-based SaaS, priced on a per-registered-user basis under multi-year contracts averaging roughly 70 months. ARR grows through three levers: adding new FI clients, organic registered user growth within existing clients, and cross-selling additional products into the installed base — cross-sell represented 54% of total contract value in 2025. Churn is low, running below 1% in recent years, primarily driven by FI consolidation. Alkami targets the top 2,500 FIs by assets, excluding megabanks, and served 301 FIs on its core platform with 22.4M registered users at year-end 2025. The business runs on a multi-tenant, single code base architecture, which limits incremental infrastructure cost per new client and supports margin expansion as the platform scales.