Plaid Co-Founder’s New Digital Bank to Power Fintech Apps and Payments

When William Hockey—best known as the co-founder of Plaid—stepped away from his executive role to pursue new ventures, few expected he’d be building a bank from the ground up. Yet that’s exactly what he did, unveiling Column, a fully chartered digital bank designed to become the infrastructure backbone of fintech innovation.

From Fintech API Pioneer to Infrastructure Bank

Plaid, founded in 2013 by William Hockey alongside Zach Perret, became an industry staple by powering fintech apps like Venmo, Robinhood, and Chime through its bank-account-linking API technology Wikipedia. Hockey departed from his executive role at Plaid in 2019 but remained on the company’s board Yahoo StyleWikipedia.

Then, in 2022, Hockey reemerged—not with another API business, but by acquiring Northern California National Bank for around $50 million, acquiring a U.S. national bank charter FStechYahoo Style. From there, he and his wife, Annie Hockey, launched Column, a bank built entirely from scratch—core, ledger, data platform and all—without relying on legacy systems or middleware FStechYahoo Style.

Why Column Matters: A Bank Built for Developers

Traditional fintechs often must stitch together services via sponsor banks, middleware firms, and processors—creating inefficiency, rigidity, and higher costs. Column cuts out the middleman by uniting banking and technology in a single, developer-first platform.

As Hockey explains:

“The largest pain point… is the supply chain it’s built on… This leads to unclear responsibility and ownership and unnecessary costs.”
Column instead delivers a direct, streamlined approach—a software-centric bank built to let developers create modern financial experiences with speed, control, and regulatory clarity Yahoo Style.

What Column Offers Fintech Builders

Column provides a suite of infrastructure capabilities tailored to fintech innovators:

·         FDIC-insured checking and savings accounts

·         In-house ledger and data architecture

·         Seamless integration with payment rails

·         Developer-friendly tools to launch debit/credit programs or originated loans

·         Direct connection to the Federal Reserve and core banking systems FStech

Already, Column serves clients like Brex, Oxygen, and even Plaid itself—but it’s open to any developer or fintech seeking a robust banking partner FStechYahoo Style.

A Growing Trend in Fintech Infrastructure

Column isn’t the only player rethinking banking infrastructure for fintechs, but its fully integrated approach sets it apart. Typical alternatives include partnerships with chartered banks like Cross River or The Bancorp, or using processors such as fiServ or Jack Henry to wrap sponsor banks. These setups often involve legacy systems and added complexity.

Hockey’s family-owned-and-operated model may grow more slowly, but he believes it enables better control and accountability:

“If something goes wrong, we take 100% of the risk… We’re in it to build a loved and long-term company…” Yahoo Style.

This stands in contrast to model where VC-backed players may prioritize rapid scaling over stability or client relationships.

What This Means for the Fintech Ecosystem

1.      Faster, more customizable product development
Developers can focus on user experiences without wrestling with legacy banking limitations.

2.      Enhanced regulatory clarity
Operating under a national bank charter, Column can directly offer deposit products and originate loans.

3.      Improved efficiency
Eliminating the middle layers of legacy infrastructure, Column potentially lowers costs and accelerates deployment.

4.      Emerging competition for embedded finance
As embedded banking and fintech-as-a-service models evolve, Column adds meaningful competition—with deep technical and banking capabilities.

Looking Ahead

As of 2025, Column isn’t yet a household name—but it’s quietly powering next-generation fintech infrastructure. Its fully integrated model may start small, but could catalyze major innovations in embedded finance, developer tools, and seamless payment integrations.

Meanwhile, Plaid has continued to expand rapidly—notably funding anti-fraud, pay-by-bank, and identity services—and rebranded as a broader “fabric of financial progress” rather than just an account-linking API FinTech MagazinePYMNTS.comBusiness InsiderNew York Post.

Final Thoughts

William Hockey’s Column represents a bold new chapter in fintech infrastructure: a real bank built explicitly for developers and builders, designed to enable the next generation of financial innovation. In an ecosystem full of fintech glue layers, Column is aiming to be the very foundation.