Alkami Tech and Plaid Team up To Benifit From Direct API

CIOTechOutlook Team | Friday, 10 November 2023, 02:36 IST

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Alkami Technology, Inc announced that it has provided direct application programming interface (API) access to Plaid, a data network that powers 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, as per Alkami Technology.
 
"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." 
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