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Plaid and Alkami team to offer FIs with direct access to Plaid

By Delisha Fernandes

November 10, 2023

  • ACH Payments
  • Alkami
  • Digital Banking

Plaid, Alkami, Digital Financial, FinTech, ACH Payments, digital banking, financial institution, Payments- as -a-Service, USAAlkami, a cloud-based digital banking solutions provider for financial institutions in the US, has partnered with Plaid, enabling Alkami’s financial institution (FIs) clients to benefit from direct application programming interface (API) access to Plaid.

This is a first-to-market partnership with Plaid for Alkami where a majority of financial institutions are live. This partnership comes as the ability to scale secure and reliable financial data sharing, with minimal technical effort or resourcing, becomes increasingly critical.

“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.”

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.

“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.”

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