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APIs · head to head

Akoya vs Codat

Akoya logo

Akoya

APIs

Bank-owned, token-based open finance network that replaces screen scraping for US financial data

From
On request
Rated
-
Full reviewWebsite
Codat logo

Codat

APIs

One API for small business accounting, banking and commerce data

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Akoya coverage reaches several thousand institutions but does not match aggregators that can still scrape, so applications needing the long tail of small credit unions will run a second data provider alongside it.; Codat the accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.
  • They diverge on capability: Akoya covers FDX standard APIs, Codat covers Normalised accounting API.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Akoya and Codat actually diverge.

Attributes where Akoya and Codat differ
AttributeAkoyaCodat
PlatformsWebAPI, Web

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Akoya

  • FDX standard APIs
  • Token-based access
  • Investment data
  • Accounts, balances and transactions
  • Statements and tax forms
  • Customer identity
  • Consumer permission management
  • Single integration

Only in Codat

  • Normalised accounting API
  • Banking and commerce data
  • Lending products
  • Write-back
  • Business verification
  • Supplier onboarding
  • Connection management
  • Data quality handling

What people use each for

The jobs each tool is most often brought in to do.

Akoya

  • A wealth management platform that needs Fidelity brokerage holdings and tax lots, which cannot be scraped since Fidelity closed that route in October 2023not Codat
  • A tax preparation product retrieving tax forms and cost basis directly from the institution rather than asking users to upload PDFsnot Codat
  • A lender that needs a permissioning trail defensible under CFPB section 1033 rather than a credential-sharing arrangementnot Codat
  • A bank that wants to meet data sharing obligations through one network connection instead of building and policing its own developer interfacenot Codat

Codat

  • A business lender that wants live ledger data for underwriting rather than a borrower emailing exported PDF accountsnot Akoya
  • A commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterlynot Akoya
  • A payment company verifying a merchant trading history before extending working capitalnot Akoya
  • A B2B platform writing bills and payments back into a customer accounting system so reconciliation happens automaticallynot Akoya

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Akoya

  • Coverage reaches several thousand institutions but does not match aggregators that can still scrape, so applications needing the long tail of small credit unions will run a second data provider alongside it.
  • The network is owned by large banks, so roadmap and coverage priorities reflect owner interests rather than those of the fintechs consuming the data, and a recipient has no leverage over which institutions are added next.
  • Data availability is decided institution by institution, meaning a bank may expose balances but not transactions or investments, and recipients must verify field-level coverage per institution rather than assume the FDX model is fully populated.
  • Pricing is unpublished and usage based, which makes it difficult to compare against aggregator pricing during a build-versus-buy decision and forces a sales cycle before you can model cost.
  • The token model requires the institution to have implemented its side, so newly onboarded institutions arrive on the institution timetable, not yours, and a launch dependent on a specific bank can slip badly.

Codat

  • The accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.
  • Pricing is opaque and enterprise shaped for a product developers expect to evaluate technically first, so build decisions get made before anyone knows the unit economics.
  • Normalisation hides but does not remove the underlying differences between accounting systems, and edge cases in multi-currency, journals and tax handling surface as data quality problems that your team must reason about in each source system anyway.
  • Data quality depends on the small business keeping its books properly, so a lender using ledger data for underwriting inherits the bookkeeping standard of its worst borrower and needs its own validation layer regardless.
  • Connection breakage from expired tokens and platform API changes is an ongoing operational load, and a borrower whose connection lapses stops being monitored silently, which is the failure mode that matters most in a lending portfolio.

Pricing, plan by plan

Akoya

On request
  • Akoya Data Access$undefined/year
    • Usage-based pricing quoted by data product and call volume
    • Separate commercial terms for data recipients and for financial institutions joining the network
    • No published rate card

Codat

On request
  • Codat Platform$undefined/year
    • Priced by connected companies, data types and products
    • Lending and verification products priced above core data access
    • Annual enterprise agreements

Which should you pick?

Choose Akoya if

  • You need fdx standard apis.
  • You also want token-based access.
Akoya review

Choose Codat if

  • You need normalised accounting api.
  • You work on API, Web.
  • You also want banking and commerce data.
Codat review

Questions people ask

Is Akoya or Codat better?
Neither clearly leads. Akoya starts at On request and Codat at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Akoya or Codat?
Akoya starts at On request and Codat at On request.
Does Akoya or Codat run on more platforms?
Akoya runs on Web. Codat runs on API, Web.
What is Akoya best used for?
Akoya is most often used for a wealth management platform that needs fidelity brokerage holdings and tax lots, which cannot be scraped since fidelity closed that route in october 2023, a tax preparation product retrieving tax forms and cost basis directly from the institution rather than asking users to upload pdfs, a lender that needs a permissioning trail defensible under cfpb section 1033 rather than a credential-sharing arrangement, a bank that wants to meet data sharing obligations through one network connection instead of building and policing its own developer interface. Of those, a wealth management platform that needs fidelity brokerage holdings and tax lots, which cannot be scraped since fidelity closed that route in october 2023 and a tax preparation product retrieving tax forms and cost basis directly from the institution rather than asking users to upload pdfs are not what Codat is typically brought in for.
What can Akoya do that Codat cannot?
Akoya covers FDX standard APIs, Token-based access, Investment data, Accounts, balances and transactions. Codat covers Normalised accounting API, Banking and commerce data, Lending products, Write-back.

Answered from the vendors’ own pages

Akoya: Who owns Akoya?

A group of large US banks. It was spun out of Fidelity, which is why Fidelity data access runs through it.

Codat: What is changing with Xero in 2026?

Xero is introducing a tiered, usage based developer pricing model effective 2 March 2026, with tiers based on the number of customer connections an app holds. That is a new cost in the chain for anyone reading Xero data at scale, whether directly or through Codat.

Akoya: Is Akoya screen scraping?

No. It uses FDX standard APIs with OpenID Connect tokens, so credentials are never shared with or stored by the data recipient.

Codat: Can Codat write data back?

Yes. It supports pushing bills, payments and journal entries into accounting systems, not only reading from them.

Akoya: Can we use Akoya alone instead of an aggregator?

Usually not. Its investment and large-institution coverage is excellent, but the long tail of smaller institutions is thinner, so most teams run both.

Codat: Is pricing published?

No. It is quoted by connected companies, data types and products, and users consistently describe it as opaque.

Akoya: Does it help with CFPB section 1033?

It is designed around it, providing tokenised permissioned access and consumer revocation rather than credential sharing.

Codat: Does it replace bank data aggregation?

Not entirely. It covers banking alongside accounting and commerce, but lenders commonly run it beside a bank aggregator for transaction level cash flow.

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