Akoya

Akoya runs a data access network that moves consumer-permissioned financial data from banks, brokerages and other institutions to the apps and aggregators that use it. It sells to two sides: financial institutions that must share customer data, and fintechs, aggregators and wealth platforms that need to receive it.

The network works only through APIs, so customers log in at their own institution and never hand a username or password to the receiving app. Akoya passes along balances, transactions, account details and investment holdings and positions. For wealth management, it lets an investing app or an advisor see accounts held at outside brokerages, recordkeepers and banks in one portfolio view. Customers grant, change or revoke each app's access at any time. For banks and credit unions, Akoya offers a white-labeled package with a developer portal, admin console, consent management, vetting of third parties and data-sharing legal agreements, which it positions as a way to meet the CFPB's Section 1033 data rights rule.

Akoya was established in 2020 and has hubs in Boston, New York City and Raleigh. The company says it connects with more than 4,300 financial institutions and employs more than 130 people. A Standard plan for under 10,000 monthly connections includes a free sandbox; an Enterprise plan for larger volumes is priced by quote, and setup fees may apply.