Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
CoverageR | Avi Ben-Hutta | Apr 21, 2022
Today, after three years of building, Plaid's co-founder and former-CTO/President, William Hockey, announces Column, a nationally chartered bank “built from the ground up” for developers and anyone creating new financial products.
“I’ve spent time with (literally) thousands of companies building in financial services and it is painfully obvious that the biggest bottleneck to their growth and innovation is the underlying banks they rely on. Financial services needs to be consumer, developer and internet first; however, in order to do this it needs a new backbone.” – William Hockey.
Column describes itself as the developer infrastructure bank, helping new financial companies avoid “expensive middleware providers” that power legacy sponsor banks. The company says that it built its own core, ledger, and data model to power unique use cases at any scale. Column offers a range of products including bank accounts, ACH, card programs, and lending. According to its site, it powers startups such as Brex, Plaid, Point, and others.
To get their hands on a bank charter, Column bought Northern California National Bank, a community bank with one physical branch in Chico, California for approximately $50 million.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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