Financial institutions can facilitate secure
and seamless connectivity to their end users'
digital financial ecosystem
PLANO,
Texas, Nov. 9, 2023 /PRNewswire/ -- Alkami
Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based
digital banking solutions provider for financial institutions
in the U.S., announced today that it has enabled its financial
institution clients to benefit from direct application programming
interface (API) access to Plaid, a data network powering over 8,000
popular financial apps and services. This is a first-to-market
partnership with Plaid for Alkami where a majority of financial
institutions are live, and Alkami is the first and largest major
platform fully live on Plaid's FDX aligned API, Core Exchange.
Partnerships between technology providers like Alkami and platforms
like Plaid will be critical to quickly scale secure and reliable
financial data sharing, with minimal technical effort or
resourcing.
"The standardization of secure data sharing is integral as we
move towards an open finance future. It's great to see that more
than 200 institutions will benefit from this integration via the
FDX aligned, Core Exchange API from Plaid," said Don Cardinal, managing director of FDX, a
non-profit industry standards setting organization dedicated to a
common interoperable standard for secure and convenient access of
permissioned financial data. "At FDX, we firmly believe that the
industry must come together from all sides of the ecosystem to
partner on a reliable and secure data sharing standard, and this
partnership represents significant progress on that objective."
"This integration is also a major validator for digital banking
API adoption, and we are proud to be the first and largest major
platform to be fully live on the FDX aligned API, as we know that
this implementation will only become more critical in our
industry," said Melissa Henricks,
vice president, product management at Alkami. "This new, seamless
access to a range of innovation-driving offerings from Plaid will
support our bank and credit union clients as they strive to compete
with emerging fintechs, big tech and megabanks."
"Plaid is committed to empowering financial institutions with an
easy and secure way to participate in an open finance future," said
Aly Yarris, Financial Access
Partnerships at Plaid. "Together with Alkami, we are proud to share
that all financial institutions on Alkami's platform now have FDX
aligned API connectivity via Core Exchange, and can support their
customers and members in using any of the 8,000+ apps and services
powered by Plaid."
With the FDX aligned API in place, Alkami's financial
institution clients can provide a reliable and consistent user
experience for their end account holders, who can connect and link
their financial accounts with Alkami. End users also benefit from a
highly secure API connection and Alkami-powered financial
institutions benefit from reduced friction, resulting in lower call
center volume.
About Alkami
Alkami Technology, Inc. is a leading
cloud-based digital banking solutions provider for financial
institutions in the United States
that enables clients to grow confidently, adapt quickly, and build
thriving digital communities. Alkami helps clients transform
through retail and business banking, digital account opening,
payment security, and data analytics and marketing solutions. To
learn more, visit www.alkami.com.
About Plaid
Plaid is a global data network that
powers the tools millions of people rely on to live a healthier
financial life. Our ambition is to facilitate a more inclusive,
competitive, and mutually beneficial financial system by
simplifying payments, revolutionizing lending, and leading the
fight against fraud. Plaid works with thousands of
companies including fintechs like Venmo and SoFi, several of the
Fortune 500, and many of the largest banks to empower people with
more choice and control over how they manage their money.
Headquartered in San Francisco,
Plaid's network spans over 12,000 institutions across the US,
Canada, UK and Europe.
Media Relations Contacts
Vested
alkami@fullyvested.com
Marla Pieton
marla.pieton@alkami.com
Isabelle Lacombe
ilacombe@plaid.com
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SOURCE Alkami Technology, Inc.