Alkami has integrated Yodlee into its platform through the Financial Data Exchange API, shifting data aggregation away from screen scraping.
The integration gives banks and credit unions that use Alkami a direct way to share third-party financial data via an API-based connection with Yodlee. It uses OAuth 2.0 authentication and tokenised access instead of credential-based methods tied to older aggregation systems.
The change comes as financial institutions across the US move towards common standards for sharing account data with external apps and services. Screen scraping, which often requires customers to enter banking credentials into third-party apps, has long been criticised for causing unstable connections, repeated login failures and support issues for banks.
The Yodlee link is built into Alkami's platform rather than offered as a separate product. For Alkami, which sells digital banking software to financial institutions, the integration expands its aggregator network and is intended to make connections to consumer finance apps more reliable.
For banks, the practical effect is likely to be fewer service issues linked to broken data connections and less strain on internal systems from repeated authentication attempts. The API model should also reduce support enquiries about aggregation issues.
Adoption of the FDX standard has accelerated as banks, fintech groups and data aggregators seek a common framework for permissioned data sharing. The standard is designed to let consumers authorise access to their information without handing over usernames and passwords to third parties.
Gate City Bank, which uses Alkami, said the shift should improve both security and the customer experience.
"Moving to an FDX API-based connection with Yodlee is a meaningful step forward for both security and user experience. It helps our customers connect their financial data with greater confidence and fewer disruptions, plus we benefit from a more stable, efficient system," said Kristi Miller, Senior Digital Implementation and Assurance Analyst at Gate City Bank.
"Innovations like this from Alkami are incredibly valuable to our bank, and to the customers we serve," Miller added.
Direct links between digital banking providers and data aggregators have become a competitive focus as financial institutions try to keep customer connections to external apps working consistently. Rather than relying on aggregators to maintain access through indirect methods, platform providers have increasingly pursued formal integrations based on shared standards.
Alkami said only a limited number of digital banking platforms are building direct FDX API integrations with large aggregators at this scale. It described the Yodlee arrangement as part of a broader effort to support standardised, more predictable third-party data access for customers of its banking platform.
Benjamin Conant, Chief Product Officer at Alkami, said the integration is part of that wider strategy.
"By building direct FDX API integrations with aggregators like Yodlee, we're improving performance, strengthening security, and creating a more connected experience for the financial institutions on our platform," said Conant.
Yodlee, which provides financial data connectivity and intelligence services, said the partnership is intended to give institutions and their customers a more consistent way to share financial information.
"Alkami and Yodlee share a commitment to helping financial institutions deliver secure, reliable digital experiences," said Jamie VanDegrift, Chief Client Officer at Yodlee.
"By bringing together Alkami's Digital Banking Platform and our trusted data connectivity and intelligence, we are helping our clients move toward safer, more consistent ways for consumers to share and access their financial information. It's a great example of how industry leaders can work together to provide impactful solutions for our clients and their customers," VanDegrift said.