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Plaid Co-Founder Takes Aim at Rickety Banking Tech

Logo The Wall Street Journal
The Wall Street Journal
By Peter Rudegeair

Lots of tech entrepreneurs who strike gold splurge on trophy homes. William Hockey bought a bank.

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Northern California National Bank lacks the curb appeal of a mansion in Malibu or Marinits sole branch abuts a sporting-goods store in a squat suburban strip mall in Chico, Calif. Even so, Mr. Hockey, a co-founder of the $13 billion financial-tech startup Plaid Inc., and his wife, Annie Hockey, plunked down about $50 million for NorCal last year, then gut-renovated its operating systems.

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