Digital banking software provider Alkami Technology has begun a formal sale process after attracting interest from potential buyers, putting the company firmly in play as activist investor Jana Partners continues to push for a transaction, according to a report by Reuters. The process remains at an early stage and there is no guarantee that it will result in a transaction, the sources said. The move follows growing pressure from Jana, which has argued that Alkami has not been conducting a meaningful process to explore strategic alternatives. Jana disclosed a 5.1% stake in Alkami in April, having built its position during 2025. The activist investor has maintained that the digital banking technology company is undervalued and should consider a sale to either a strategic buyer or private equity.