Alkami vs. Novo Platform

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Alkami
Score 7.0 out of 10
N/A
Alkami aims to enable financial institutions to outsmart, not outspend, the Megabanks by providing a successful cloud-based digital banking platform. The Alkami Platform humanizes digital banking so banks and credit unions can confidently grow, adapt quickly, and build a thriving digital community.N/A
Novo
Score 9.0 out of 10
N/A
Novo, from Novo Platform in New York, is a banking platform that provides business deposit accounts to companies and is supported by a network of FDIC-insured community banks. Novo states their goal is to bring small business banking into the modern age with easy-to-use tools for founders on the go.N/A
Pricing
AlkamiNovo Platform
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
AlkamiNovo
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details
More Pricing Information
Community Pulse
AlkamiNovo Platform
Top Pros
Top Cons

No answers on this topic

User Ratings
AlkamiNovo Platform
Likelihood to Recommend
7.0
(1 ratings)
9.0
(1 ratings)
User Testimonials
AlkamiNovo Platform
Likelihood to Recommend
Alkami Technology
If you are looking for a high-quality online banking product and you don’t want/need to customize it too much, Alkami is a great choice- it has a lot out of the box and the people are great. If you need a lot of customization, and you don’t have the internal resources to help you do that, Alkami may be a challenge to satisfy your needs.
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Novo Platform, Inc
Novo is really good for my money checking account, it's integrated with Shopify, and there are no monthly fees and no minimum balance requirement. Unfortunately, it's not possible to deposit cash and send wires.
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Pros
Alkami Technology
  • Mobile-first design is great on both iOS and Android.
  • Broad array of retail banking capabilities.
  • A large array of integrated partner products to enhance the core functionality of the base product.
  • SDK and API-centric architecture are helping to design for the future of banking applications.
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Novo Platform, Inc
  • No monthly fees
  • Integration with other solutions
  • No minimum balance requirement.
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Cons
Alkami Technology
  • SDK and APIs are not fully mature - while they are functional and have a bright future, the support infrastructure is not fully developed.
  • Custom development can take a long time.
  • They may be focused on sales over support given their recent public offering.
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Novo Platform, Inc
No answers on this topic
Alternatives Considered
Alkami Technology
No answers on this topic
Novo Platform, Inc
Novo platform has no monthly fees, no minimum balance requirements, no transaction fees, and no incoming wire fees. It's online and it's possible to integrate easily with other solutions.
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Return on Investment
Alkami Technology
  • Enabled a solid mobile first.
  • Ember experience.
  • Allowed flexibility via the SDK.
  • Allowed us to focus on the business needs over the technology infrastructure.
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Novo Platform, Inc
No answers on this topic
ScreenShots