Digital Banking: Bankjoy Integrates with Plaid to Enable Account Management for Businesses

Bankjoy, an end-to-end digital banking provider, announced its partnership with Plaid, the open finance provider powering the digital financial ecosystem.

Institutions on the Bankjoy platform will now be able “to offer their customers API access to Plaid’s network of more than 8,000 fintech apps and services.”

Through the partnership, businesses can now securely and seamlessly “add accounts from other financial institutions and fintechs to Bankjoy’s platform with Plaid’s account connectivity tool, giving business account holders a centralized place to view and manage their finances.”

Bankjoy’s Business Banking platform is designed “to deliver a superior digital banking experience for business and commercial account holders.”

By partnering with Plaid, financial institutions using Bankjoy’s Business Banking platform make it easier and more secure for businesses “to connect multiple accounts from different financial institutions and third-party apps within Bankjoy’s digital platform.”

Business account holders can also “manage user permissions and securely add new users directly through the digital banking platform.”

Bankjoy’s partnership with Plaid “transforms the way financial institutions engage the businesses within their local communities by giving account holders one place to access multiple accounts and manage their entire financial footprint via online and mobile banking.”

With Plaid’s account connectivity capabilities, Bankjoy empowers banks and credit unions “to position their organization as the preferred financial service provider for the business and commercial account holders they serve.”

Michael Duncan, CEO of Bankjoy, said:

“Amid the economic uncertainty, 95% of Americans say they feel some type of economic stress, according to Plaid’s 2022 Fintech Effect Report. Consumers and businesses alike are looking for financial institutions that provide them with the tools necessary to support them through this time. At the same time, today’s account holders often use multiple apps and financial institutions to manage their finances, which makes enabling multi-account connectivity crucial. Bankjoy’s partnership with Plaid supports this and we look forward to helping more financial institutions enhance the digital banking experience for their business customers and members.”

Engineered by credit union executives, Bankjoy’s modern banking technology “includes mobile and online banking, e-statements, online account opening, online loan origination, as well as other features, such as conversational AI.”

Bankjoy continues “to evolve its digital product offerings, rolling out several new features, functionalities, and integrations in the last 12 months, such as its new, standalone online account opening solution and its upgraded Business Banking platform.”

The partnership with Plaid will further “enhance Bankjoy’s Business Banking platform, making it easier and more cost-effective to deliver truly feature-rich digital banking technology for business and commercial account holders.”

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