Plaid Co-Founder William Hockey has founded a bank with his wife, Annie.
In Brief:
Column is a technology-focused, federally chartered bank.
It will focus on infrastructure so other companies can offer financial services.
Co-CEOs Hockey and Hockey have bought Northern California National Bank to be able to offer a full set of services as a chartered bank.
What does this mean?
With a focus on embedded finance, the bank aims to make it “easier and faster” for companies to offer financial services. The aim is to not raise venture capital and instead remain owned by its founders and 60 staff.
