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APIs · head to head

Akoya vs Temenos Transact

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
Temenos Transact logo

Temenos Transact

APIs

Established core banking system used by banks in over a hundred countries

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.; Temenos Transact the codebase originates in the 1990s, so banks on older releases face major upgrade programmes to reach current versions, and many defer them for years.
  • They diverge on capability: Akoya covers FDX standard APIs, Temenos Transact covers Country model banks.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Akoya and Temenos Transact actually diverge.

Attributes where Akoya and Temenos Transact differ
AttributeAkoyaTemenos Transact
PlatformsWebWeb, Linux, Windows, REST API

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 Temenos Transact

  • Country model banks
  • Multi-product core
  • Payments processing
  • API layer
  • Cloud deployment
  • Accounting engine

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 Temenos Transact
  • A tax preparation product retrieving tax forms and cost basis directly from the institution rather than asking users to upload PDFsnot Temenos Transact
  • A lender that needs a permissioning trail defensible under CFPB section 1033 rather than a credential-sharing arrangementnot Temenos Transact
  • A bank that wants to meet data sharing obligations through one network connection instead of building and policing its own developer interfacenot Temenos Transact

Temenos Transact

  • A bank in an emerging market needing local regulatory compliance without building it from scratchnot Akoya
  • An institution running Islamic banking products alongside conventional ones on one corenot Akoya
  • A bank that needs a large pool of experienced implementation consultants to de-risk a migrationnot Akoya
  • A group standardising subsidiaries in several countries onto one core banking systemnot 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.

Temenos Transact

  • The codebase originates in the 1990s, so banks on older releases face major upgrade programmes to reach current versions, and many defer them for years.
  • Total cost is dominated by implementation partner fees rather than licence, and those programmes routinely overrun their original estimates.
  • Product changes that cloud-native cores treat as configuration can require development work and a release cycle, which slows time to market for new products.
  • Heavy customisation is common and it makes every subsequent upgrade harder, creating a compounding cost that banks feel a decade after go-live.
  • Temenos has repeatedly restructured its product line and naming, so buyers must check carefully which components a proposal actually includes and which are separately licensed.

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

Temenos Transact

On request
  • Temenos Transact$undefined/year
    • Perpetual or subscription licence scaled by assets, accounts or users
    • Annual maintenance typically a percentage of licence value
    • Implementation delivered by partners and charged separately

Which should you pick?

Choose Akoya if

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

Choose Temenos Transact if

  • You need country model banks.
  • You work on Web, Linux, Windows, REST API.
  • You also want multi-product core.
Temenos Transact review

Questions people ask

Is Akoya or Temenos Transact better?
Neither clearly leads. Akoya starts at On request and Temenos Transact at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Akoya or Temenos Transact?
Akoya starts at On request and Temenos Transact at On request.
Does Akoya or Temenos Transact run on more platforms?
Akoya runs on Web. Temenos Transact runs on Web, Linux, Windows, REST API.
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 Temenos Transact is typically brought in for.
What can Akoya do that Temenos Transact cannot?
Akoya covers FDX standard APIs, Token-based access, Investment data, Accounts, balances and transactions. Temenos Transact covers Country model banks, Multi-product core, Payments processing, API layer.

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.

Temenos Transact: Is Transact the same as T24?

Yes. T24 was renamed Temenos Transact; older installations and much of the consultant population still use the T24 name.

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.

Temenos Transact: Can it run in the cloud?

Yes, it is offered on public cloud, though many existing installations remain on-premises and moving them is a project.

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.

Temenos Transact: What drives the cost?

Licence scaled by size, annual maintenance as a percentage of licence, and implementation partner fees that usually exceed the software cost.

Akoya: Does it help with CFPB section 1033?

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

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