Alkami to Acquire Segmint Inc., Leading Provider of Financial Data Analytics and Transaction Cleansing


Acquisition Combines Segmint’s Data Insights with Alkami’s Digital Account Opening and Digital Banking Capabilities to Enable Financial Institution User Data Throughout the Account Holder Journey

PLANO, TX, March 28, 2022 /PRNewswire/ — Alkami Technology, Inc. (Nasdaq: ALKT) (“Alkami”), a leading provider of cloud-based digital banking solutions for U.S. financial institutions, announced that it has entered into a definitive agreement to acquire Segment Inc., a leader in crafting usable and meaningful account and transaction data for FIs to deepen customer relationships and increase revenue.

The acquisition will benefit FIs in two ways. First, combining datasets from Alkami and Segmint will provide a more comprehensive view of the account holder while training current Segmint data models for greater accuracy and extending them to additional use cases. Second, FIs will be able to use this data to target, engage and grow relationships with customers through their most ubiquitous and effective channel: the digital banking experience.

The acquisition is expected to expand Alkami’s total addressable market by approximately $1 billion and enable new cross-selling opportunities to a wider installed base.

“Our clients want to deepen their relationships with their customers and increase their revenue. To do this, they need to transform raw account and transaction data into insights that drive highly personalized communications. Segmint applies machine learning to transaction data to help FIs better understand their account holders and automates messaging with incredible accuracy and personalization across multiple channels,” said Alex Shootman, CEO, Alkami. “We are delighted to welcome the talented team of Segmint and their customers as we work together to enable financial institutions to grow organically through deeper relationships with account holders.”

Powered by data scientists and artificial intelligence, Segmint is a leader in making account and transaction data usable and meaningful for financial institutions of all sizes and sophistications, serving 147 financial institutions with approximately 15 million account holders . Segmint’s algorithms are derived from the analysis of billions of transactions, providing FIs with customer segmentation based on Key Lifestyle Indicators® (KLIs®) that blend demographic, psychographic and behavioral data points. Segmint generates over 36,000 unique KLI® data points daily, continuously feeding and training its models for increased speed and accuracy.

“The Segmint team is extremely excited about partnering with Alkami,” said Segmint’s president. Adam Craig. “I look forward to expanding our mission to enable financial institutions to translate their data into actionable insights in pursuit of growth.”

The transaction has been approved by the boards of directors of both companies and Segmint shareholders and is expected to close during the second quarter of 2022 subject to regulatory approval and customary closing conditions. Consideration will be $135.5 million cash payable at closing. Based on a trade closing date of June 30, 2022Alkami expects Segmint to contribute approximately $7.0 million of revenue and an insignificant amount of EBITDA adjusted to its financial performance for the year 2022. Alkami expects that the annual recurring revenue under contract from Segmint will reach December 31, 2022 to be in the range of $15 for $17 millionwhich represents a growth rate of 30% to 50% compared to the same metric at the December 31, 2021.

Financial Technology Partners served as exclusive financial and strategic advisor to Segmint.

Forward-looking statements
This press release contains forward-looking statements, including statements regarding: possible or assumed future results of Alkami, including its future cash flows and financial outlook for the year ending December 31, 2022, the ability of Segmint’s products to deepen relationships with FI customers; the ability of Segmint products to further differentiate Alkami and its solution offerings; the ability of Segmint and Alkami to combine data sets and provide a more comprehensive view of account holders; Segmint’s ability to train its current data models using Alkami data; Alkami’s and Segmint’s ability to provide best-of-breed solutions; the benefits for Alkami customers of adding Segmint solutions; the ability of Alkami’s and Segmint’s products to enable FIs to use data to target and engage with account holders, deepen customer relationships with account holders using FI data, and accelerate the growth ; Alkami’s ability to advance its product offerings with Segmint; and the potential of Alkami and Segmint as a combined force. The forward-looking statements contained in this press release are based on current plans, estimates and expectations and do not constitute a representation that such plans, estimates or expectations will be achieved. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) risks relating to Alkami’s ability to successfully integrate Segmint, its technology and its people; (b) risks relating to the execution of the combined plans, strategies and forecasts, including with respect to data analytics, machine learning and personalized communications capabilities and offerings; (c) risks relating to customer demand and market acceptance of such offers; (d) risks relating to Alkami’s expectations regarding Segmint’s business after completion of the transaction and Alkami’s ability to realize additional opportunities for growth and innovation; (e) competitive risks in the highly competitive and innovative financial services and technology sectors; (f) the security and compliance risks of such solutions; (g) intellectual property and associated risks; and (h) other risks and potential factors that could affect our business and financial results identified in Alkami’s filings with the Securities and Exchange Commission.

These forward-looking statements represent Alkami’s expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Alkami disclaims any obligation to update or modify these forward-looking statements in the future, whether as a result of new information, future events or otherwise.

About Alkami
Alkami Technology, Inc. is a leading provider of cloud-based digital banking solutions for financial institutions in United States that empowers customers to grow with confidence, adapt quickly, and build thriving digital communities. Alkami helps customers transform through retail and enterprise banking, digital account opening, loan origination and multi-payment fraud prevention solutions. To learn more, visit

About Segmint
Segment Inc. enables financial institutions and fintech providers to easily understand and leverage data, engage with customers, and measure results. Derived from billions of transactions, Segmint delivers fast and accurate customer insights through advanced data tagging, categorization and contextualization. His insights enable all functions of an organization to inform strategies, including competitive analysis, risk, marketing, customer experience and product innovation. For more information, visit

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SOURCEAlkami Technology, Inc.


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