Activist investor Jana Partners has urged Alkami Technology, the fintech platform serving banks and credit unions, to explore a potential sale to either a rival firm or a private equity buyer, according to a report by reuters.

The recommendation comes amid what Jana described as a “substantial discount” in the company’s stock, which has fallen around 40% year-to-date, signalling a disconnect between market valuation and underlying business prospects.

Jana, which built a new stake in Alkami during Q3, presented its views at the Bloomberg Activism Forum in New York, advocating for a strategic review of the company’s options to unlock shareholder value. The activist noted that a sale could attract both financial sponsors and strategic acquirers, positioning Alkami to benefit from consolidation trends in the fintech and banking technology sector.