Akoya
Akoya operates a 100% API-connected Data Access Network enabling secure, consumer-permissioned financial data sharing between 4,500+ financial institutions and 7,500+ fintech applications, replacing screen scraping with tokenized, FDX-standard APIs aligned to CFPB Section 1033 compliance.
- Company typePrivate
- Founded2020
- HeadquartersBoston, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Akoya does
Akoya operates a 100% API-connected Data Access Network (DAN) enabling secure, consumer-permissioned financial data sharing between financial institutions and fintech applications. The Boston-based company, established in 2020 as a spin-off from Fidelity Investments, operates as a private LLC governed by New York law. Its network connects 4,500+ financial institutions — including JPMorgan Chase, Wells Fargo, PNC, TD Bank, U.S. Bank, Truist, Huntington, M&T, Capital One, Citibank, and Fiserv — with 7,500+ fintech applications, replacing screen scraping with tokenized OAuth-based API connections aligned to Financial Data Exchange (FDX) standards and addressing regulatory requirements under CFPB Section 1033, finalized in October 2024.
The platform is built on a microservices architecture with a Zero Trust security framework, NIST CSF and CIS Critical Security Controls alignment, and SOC 2 Type II certification. Its tokenization technology is protected by five US patents (three awarded August 2022, two in June 2023). The API product suite includes Balances, Transactions, Accounts & Investments, Payments, Customers, and Statements endpoints, accessible through a self-service Data Recipient Hub at recipient.ddp.akoya.com that includes a sandbox environment. The network maintains 99.9%+ availability and 99.5%+ API call success rates. Distribution combines direct enterprise sales, a developer-focused self-service portal for fintechs, and channel partnerships with core banking platform providers — notably Jack Henry (reaching 4.8 million end-customers via the Banno Digital Platform), FIS Open Access, Fiserv, and implementation partner Axway.
Akoya monetizes through subscription-based API access (with a free Connect tier for basic network access and quote-based enterprise pricing for comprehensive compliance solutions), managed services for third-party risk management, and transaction-based data access fees following the November 2025 JPMorgan Chase agreement renewal. The company employs 101-250 people (over 130 per company communications) and is led by CEO Paul LaRusso (appointed January 2023), with a senior team including CTO Greg Chan, COO Behram Panthaki, CFO Joe Branca, CISO Collin Sampson, and General Counsel Paul Horan.
Akoya firmographics
Firmographics- Name
- Akoya
- Legal name
- Akoya LLC
- Website
- https://akoya.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Akoya operates a 100% API-connected Data Access Network enabling secure, consumer-permissioned financial data sharing between 4,500+ financial institutions and 7,500+ fintech applications, replacing screen scraping with tokenized, FDX-standard APIs aligned to CFPB Section 1033 compliance.
- Ownership category
- akta.pro rank
Akoya industry classification
Industry- Product category
- Open Finance Infrastructure / Financial Data API Platform
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)
- SIC
- Finance Services (6199), Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Transaction Analytics & Cash-Flow Insights (risk signals, forecasting) (FSAGACAG)
- akta.pro secondary industries
- Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI), Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB), Digital Account Opening & Onboarding (eKYC, eSignature, Origination) (FSAGAAAB), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)
Keywords
Where Akoya is headquartered
LocationHeadquarters
- HQ city
- Boston
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Akoya business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations
Revenue model
- API Data Access Services: Akoya charges financial institutions and data recipients for API access to the data network. Connect offering provides basic network access at no cost, with paid tiers for comprehensive data sharing capabilities.
- Data Access Fees from Banks: Following JPMorgan Chase agreements (November 2025), Akoya facilitates fee arrangements where banks can charge fintechs for access to customer data through the network.
- Managed Services: Third-party risk management services including security reviews, policy management, legal agreements, and contracting processes provided to network participants.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Connect - Basic network access at no cost |
| Subscription | Multi-year contract | Enterprise/Custom - Full-service regulatory compliance solutions |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Akoya product offering
Product offeringCore offering
Akoya operates a 100% API-connected Data Access Network (DAN) that enables secure, consumer-permissioned financial data sharing between financial institutions and fintech applications. The platform replaces screen scraping with token-based, OAuth-authenticated APIs aligned to FDX standards, supporting CFPB Section 1033 regulatory compliance. It offers standardized API products (Balances, Transactions, Accounts & Investments, Payments, Customers, Statements) accessible via a self-serve Data Recipient Hub.
Product overview
Akoya is an open finance platform providing a 100% API-connected data access network for secure financial data sharing between financial institutions and fintech applications. The platform operates as a network model where financial institutions (data providers) connect once to share data with multiple fintechs (data recipients) through standardized OAuth-based APIs. The core product portfolio includes the Open Finance Solution for institutions, Secure Data Sharing for API connectivity, and the Regulatory Compliance Solution for CFPB 1033 adherence. The API product suite includes Balances, Transactions, Accounts & Investments, Payments, Customers, and Statements APIs, all accessible through the Data Recipient Hub self-service portal. The network serves over 4,500 financial institutions and powers 7,500+ applications, with 99.9%+ network availability and 99.5%+ API call success rate.
Differentiator
Problem solved
Functional benefit
Products and services
- Balances API API product providing secure access to financial account balances across bank accounts, credit cards, loans, and investments. Used by fintechs and aggregators building consumer-permissioned financial apps.
- Transactions API API product that accesses transaction data including amounts, dates, and details across all account types. Built for fintechs requiring consumer-permissioned transaction visibility.
- Accounts & Investments API API product that provides detailed information on holdings and positions of investment accounts, enabling wealth management solutions.
- Payments API API product that enables payment initiation and account-to-account payment validation for digital wallets and pay-by-bank transfers.
- Customers API API product that provides customer identity and demographic information for account opening and identity verification use cases.
- Statements API API product that provides access to account statements and related documentation.
- Open Finance Solution Comprehensive solution for financial institutions to power open finance, solve for regulatory compliance (including CFPB 1033), and securely share customer data through Akoya's network.
- Secure Data Sharing Consumer-permissioned data sharing solution that replaces screen scraping with token-based, OAuth API connections, enabling consumers to control access to their financial data.
- Regulatory Compliance Solution (CFPB 1033) Compliance solution helping financial institutions meet CFPB Section 1033 requirements for standardized APIs and consumer financial data access rights.
- Data Recipient Hub Self-service portal for data recipients (fintechs and aggregators) to manage API connections, view products, data elements, and data providers; includes a sandbox environment for testing.
Quantifiable outcome
- 99.9%+ network availability
- +3 more outcomes
Companies that use Akoya
Customer profileNamed customers17 records
Segments3 records
Ideal customer profiles3 records
Akoya technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature5 records
Akoya partnerships and signals
Strategic signalPartnerships
17 partnerships are on record, tiered core, supporting and founding.
- Jack HenrycoreDigital front-end partner integrating Akoya into Banno Digital Banking Platform. Enables 4.8 million customers of banks and credit unions to grant fintech apps access to financial data with permission control and revocation capabilities. Jack Henry is the first core provider to join Akoya (May 2021) and continues phasing out screen scraping.
- FIScoreDigital front-end partner using FIS Open Access platform combined with Akoya API network. Facilitates collaboration between financial institutions and fintechs to deliver data aggregation and cutting-edge solutions. Agreement announced August 2023.
- AxwaysupportingImplementation partner providing comprehensive and secure connectivity to share customer financial data with fintech ecosystem based on common, open standards. Partnership announced June 2023.
- JPMorgan ChasecoreMajor bank joined Akoya Data Access Network (February 2021) for API-based data sharing. Agreements renewed November 2025 to advance consumer permissioned data access. JPMorgan Chase reached agreements with fintech aggregators including Akoya for data access fees.
- Wells FargocoreJoined Akoya to advance API-based data aggregation (June 2021). Actively pushing fintechs to use Akoya over screen scraping aggregators, issuing cease-and-desist orders to aggregators like Trustly for unauthorized data access.
- PNCcoreLaunched Akoya solution to increase security of connections for consumers to safely transact with financial apps (September 2021). Akoya serves as PNC's API provider enabling secure data sharing without credential sharing, repairing previous relationship after PNC blocked aggregators five years prior.
- TD BankcoreJoined Akoya Data Access Network (September 2021) to accelerate open finance. TD embraced Akoya as key enabler of customer-driven banking strategy in US market, providing safe and secure data sharing for participating third-parties.
- U.S. BankcoreFifth-largest US bank connected to Akoya Data Access Network (November 2020) as first major bank connection since February founding. Utilizes U.S. Bank APIs and Developer Portal for easy integration.
- FiservcoreData sharing agreement facilitating broad, reliable, and secure API connections for consumer financial information. Agreement announced August 2023.
- Envestnet | YodleecoreMilestone step to enhance API-powered consumer-driven sharing of financial data. Yodlee joined Akoya network as data aggregator (September 2023), enabling Pentadata to access data through integration.
- TruistsupportingJoined Akoya network in January 2022 to accelerate open finance adoption. Connected through API-based access to financial data.
- Huntington National BanksupportingJoined Akoya network in January 2022 to accelerate open finance adoption. Connected through API-based access to financial data.
- M&T BanksupportingJoined Akoya network in January 2022 to accelerate open finance adoption. Connected through API-based access to financial data.
- upSWOTsupportingPartnership announced March 2023 to give small business customers control of their data and actionable insights through upSWOT's fintech platform.
- PentadatasupportingData aggregator joined Akoya Data Access Network (August 2021) through integration enabling access to consumer-permissioned financial data.
- Fidelity InvestmentsfoundingOriginal founding parent of Akoya. Created Akoya as independent company in February 2020 to operate data-sharing network for entire industry.
- Financial Data Exchange (FDX)coreAkoya participates actively in FDX, the standard-setting body for financial data APIs. Won FDX API Hackathon (2022) and maintains APIs aligned to FDX standards. CFPB recognized FDX as standard-setting body in January 2025.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Akoya competitors and assessment
Company assessmentDirect peers
- Plaid: Plaid is the leading consumer-permissioned financial data aggregator connecting fintechs to bank accounts via APIs. It is Akoya's closest direct competitor, with comparable OAuth-based API infrastructure, an overlapping FI roster, and the same fintech developer customer base.
- Finicity (Mastercard Open Banking): Finicity, now part of Mastercard, provides API-based financial data aggregation and verification services to FIs and fintechs. It directly competes with Akoya in the consumer-permissioned data sharing network category, including cash flow underwriting and account verification use cases.
- Envestnet | Yodlee: Yodlee is one of the longest-standing financial data aggregators, serving wealth management, lending, and PFM use cases. While Yodlee is also an Akoya network participant, it directly competes for the same FI and fintech relationships with its own aggregation APIs.
- MX: MX Technologies provides open banking, data connectivity, and financial insights APIs serving banks, credit unions, and fintechs. It competes directly with Akoya in the data aggregation and connectivity layer, with strong adoption among US credit unions and community banks.
Broad incumbents
- Stripe Financial Connections: Stripe Financial Connections provides bank account linking APIs as part of Stripe's broader payments platform. It serves overlapping fintech use cases (account opening, payments enablement) but is bundled within Stripe's incumbent payments suite rather than as a standalone open finance network.
- FIS Open Banking: FIS operates broader core banking, processing, and Open Access data aggregation platforms serving large FIs. FIS partners with Akoya but also competes indirectly via its own Open Access API suite, making it a hybrid partner/incumbent comparable.
Regional players
- TrueLayer: TrueLayer is a leading open banking API platform focused primarily on the UK and European markets. It is comparable to Akoya in product architecture (OAuth-based data and payment initiation APIs) but competes in a different geography and regulatory regime.
- Flinks: Flinks is a Canadian open banking and financial data connectivity provider serving banks, lenders, and fintechs. It is comparable to Akoya in API-driven account aggregation and verification but operates predominantly in Canada rather than the US.
Others
- Jack Henry (Banno): Jack Henry is a core banking platform provider whose Banno Digital Banking Platform embeds Akoya APIs. While not a direct competitor, Jack Henry is a critical channel partner and adjacent infrastructure provider shaping the SMB bank data-sharing ecosystem in which Akoya operates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Akoya social profiles
Digital presenceAkoya compliance and trust
Trust signalCompliance2 records
Akoya financial estimates
Financial estimateRevenue estimate
Valuation estimate
Akoya leadership team
Management profileNumber of profiles
Profiles13 records
Akoya funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Akoya M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Akoya
What does Akoya do?
Akoya operates a 100% API-connected Data Access Network (DAN) that enables secure, consumer-permissioned financial data sharing between financial institutions and fintech applications. The platform replaces screen scraping with token-based, OAuth-authenticated APIs aligned to FDX standards, supporting CFPB Section 1033 regulatory compliance. It offers standardized API products (Balances, Transactions, Accounts & Investments, Payments, Customers, Statements) accessible via a self-serve Data Recipient Hub.
Is Akoya a public or private company?
Akoya is a private company. It is classified as management employee owned and is currently operating.
When was Akoya founded?
Akoya was founded in 2020. It employs 101 to 250 people.
Where is Akoya based?
Akoya is headquartered in Boston, United States, in the North America region.
How does Akoya make money?
Three revenue lines are on record. API Data Access Services are the primary driver. The others are data Access Fees from Banks and managed Services.
Who are Akoya's main competitors?
Direct peers on record are Plaid, Finicity (Mastercard Open Banking), Envestnet | Yodlee and MX. Broad incumbents are Stripe Financial Connections and FIS Open Banking. Regional players are TrueLayer and Flinks. Jack Henry (Banno) is listed as an others.
Does Akoya have an API?
Yes. Akoya provides a public API network for secure financial data sharing. The API enables fintechs and data aggregators to access consumer-permissioned financial data including balances, transactions, accounts, investments, payments, customers, and statements through OAuth-based tokenized connections. The network processes API calls and supports 100% API-driven data access with 99.5%+ API call success rate. Developers can access sandbox environment and self-service Data Recipient Hub at recipient.ddp.akoya.com for testing and production deployment. Developer documentation is at docs.akoya.com.
What industry is Akoya in?
Akoya's product category is Open Finance Infrastructure / Financial Data API Platform. Its primary akta.pro industry code is FSAGACAG, Transaction Analytics & Cash-Flow Insights (risk signals, forecasting), with a secondary code of FSAGACAI, Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation). Its NAICS code is 518 and its SIC code is 6199.