Case Study: First National Bank of Las Animas achieves 75% faster account opening and 67% reduced processing time with Alkami Technology

Introducing Digital Account Opening to Colorado’s Communities

First National Bank of Las Animas, a community bank with seven Colorado locations specializing in ranching, farming and business banking, needed a way to accelerate acquisition after declining foot traffic, reduce time and labor to open new accounts, and offer the same onboarding experience online and in-branch amid the COVID-19 pandemic. To meet those goals, First National Bank of Las Animas selected Alkami Technology’s digital account opening platform to provide a seamless mobile and in-branch application experience.

Alkami Technology implemented a mobile-first digital account opening solution with ID Scan for data prepopulation, Plaid-powered bank account authentication for real-time funding, a cloud-based staff dashboard, and integrations with IBT Apps for automated core onboarding; the bank also added QR codes and iPads for in-branch self-service and banker-assisted applications. The result: application completion time was cut by 75% (under five minutes), application processing time dropped 67%, applications grew 34% in the first month, electronic document storage improved, and manual data entry was largely eliminated.

First National Bank of Las Animas

Ben Johnson

Chief Operations Officer