Akoya

Akoya

Provides API-based consumer-permissioned financial data access

Overview

Company Does Not Provide H1B Sponsorship

Akoya provides an API-based data access network for the financial services sector, enabling consumer-permissioned sharing of financial data without sharing login credentials. Through a single integration, banks, wealth managers, fintechs, and data aggregators connect to the network using the FDx API standard; Akoya does not copy or store data passing through. It handles data-sharing relationships on behalf of participants, reducing the need for multiple bilateral agreements and focusing on secure, user-controlled access. Its goal is to enable safe, scalable open finance infrastructure that improves data security, privacy, and interoperability across the industry.

About Akoya

Simplify's Rating
Why Akoya is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Enterprise Software

Financial Services

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

Boston, Massachusetts

Founded

2018

Your Connections

People at Akoya who can refer or advise you

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Simplify's Take

What believers are saying

  • PNC Bank expanded integration October 2024 for corporate data sharing.
  • Partnerships with 9Spokes May 2024 and Vyzer February 2024 grow network.
  • Courtney Robinson joined 2024 as Head of Policy from Block Inc.

What critics are saying

  • CFPB Section 1033 mandates free bank APIs by late 2026, bypassing Akoya.
  • Envestnet Yodlee aggregates directly from owner banks like Bank of America.
  • Bud Financial commoditizes transactional data atop Akoya's APIs.

What makes Akoya unique

  • Akoya provides 100% API-connected network owned by 12 banks including Bank of America.
  • Single integration enables multiple API connections without bilateral agreements.
  • Uses FDX API standard without storing or copying consumer financial data.

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Benefits

Remote Work Options

Growth & Insights and Company News

Headcount

6 month growth

-4%

1 year growth

1%

2 year growth

1%
Cision
Jun 12th, 2024
Bud Financial Joins The Akoya Network, Enabling U.S. Financial Institutions To Fully Realize The Benefit Of Advanced Transactional Data Enrichment

Bud and Akoya will give clients the tools they need to maximize the value of their customer data and find quick and sustainable ways to grow. We can't wait to see what our clients build next

FF News
Jun 12th, 2024
Courtney Robinson Joins Akoya As Head Of Policy And Communications

Courtney Robinson joins Akoya as the new Head of Policy and Communications. Robinson comes to Akoya from Block Inc. where she served as the Head of Global Regulatory Affairs. She has a range of industry experiences working on issues critical to policy development and stakeholder engagement.“Courtney is joining Akoya at a time when policymakers in the Executive Branch and on Capitol Hill are establishing a framework for a robust and secure open banking system,” said Paul LaRusso, CEO of Akoya. “She is the right person to help Akoya engage in those discussions as a leader in open banking, committed to privacy and consumer choice, while serving financial institutions and fintech companies of all sizes.”Courtney Robinson joins Akoya with years of experience in the financial services industry, including working for the U.S. House of Representatives Committee on Financial Services, where she was responsible for regulatory and legislative matters that affected financial institutions and consumer credit

Open Banking Expo
May 29th, 2024
Data platform 9Spokes joins forces with Akoya

White-labelled data platform 9Spokes has formed a strategic partnership with Akoya, an API-only network for consumer-permissioned data sharing, to provide clients of 9Spokes and and their SMB customers with an expanded range of financial insights.

PR Newswire
May 28th, 2024
9Spokes Partners With Akoya To Elevate Financial Data Access For Financial Institutions And Fintechs

AUCKLAND, New Zealand, May 28, 2024 /PRNewswire/ -- 9Spokes, a white-labeled data platform, today has announced a strategic partnership with Akoya, a leader in the growing U.S. open banking ecosystem. This alliance is set to significantly widen the range of financial insights available to clients and their small to medium-sized businesses (SMBs) customers via the 9Spokes' platform, thereby bolstering their decision-making and financial management capabilities.Through this partnership, 9Spokes has connected to Akoya's data access network to enable a direct, secure, and efficient method for accessing consumer permissioned financial data. 9Spokes' clients and their SMB customers can now tap into enriched financial insights from over 800+ leading banks across the world. This direct connectivity through Akoya's secure APIs facilitates a comprehensive view of a business' financial data, crucial for deepening analysis and advancing strategic planning."Partnering with Akoya represents a significant step forward in our mission to ensure every company has the business intelligence needed to thrive," said Tom Baran, Global Head of Partnerships and Customer Support at 9Spokes. "This collaboration not only enhances our platform's capabilities but also aligns with our commitment to security and innovation in financial data management."The partnership is expected to provide 9Spokes' users with a wider array of financial insights and analytics, enhancing operational efficiencies, reducing costs, and improving overall business performance using accurate, real-time financial data."Akoya is excited to join forces with 9Spokes, setting a new benchmark in financial data connectivity," remarked Behram Panthaki, COO at Akoya

PR Newswire
Feb 28th, 2024
Vyzer And Akoya Partner To Enhance Consumer Financial Data Security And Access

NEW YORK, Feb. 28, 2024 /PRNewswire/ -- Vyzer, a leading digital wealth management platform, announces a strategic collaboration with Akoya, a 100% API-connected data access network. This partnership introduces Akoya as the third financial data aggregator in Vyzer's platform, broadening secure financial data access from more institutions and advancing data protection and user control for investors.Vyzer: Advanced Wealth Management PlatformVyzer goes beyond basic tracking, offering sophisticated, automated wealth management solutions. Designed for investors with substantial private investments, Vyzer's platform features automated and integrated data syncing for effortless wealth management.Innovative Data Security and Access with AkoyaAkoya is transforming the way consumer financial data is shared. The Akoya network enables financial institutions of all sizes to conduct consumer-authorized data sharing in a secure, transparent, 100% API-based format. This approach enhances data security for clients by eliminating the need to share sensitive login credentials with third-party applications.Akoya simplifies data access, enabling multiple API connections, through a single integration, thus enhancing security and reducing maintenance

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