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APIs · head to head

Akoya vs TrueLayer

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
TrueLayer logo

TrueLayer

APIs

Open banking payments and data across the UK and Europe, with the largest share of UK variable recurring payments

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.; TrueLayer variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • They diverge on capability: Akoya covers FDX standard APIs, TrueLayer covers Pay by bank.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Akoya and TrueLayer actually diverge.

Attributes where Akoya and TrueLayer differ
AttributeAkoyaTrueLayer
PlatformsWebWeb, iOS, Android

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 TrueLayer

  • Pay by bank
  • Variable recurring payments
  • Payouts and refunds
  • Account information
  • Account name verification
  • Signup and KYC support
  • Multi-country coverage
  • Hosted payment page

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

TrueLayer

  • A UK subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring paymentsnot Akoya
  • A trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risknot Akoya
  • A marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected paymentsnot Akoya
  • A lender verifying income and affordability from bank transaction data rather than uploaded statementsnot 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.

TrueLayer

  • Variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • Payment conversion varies substantially by bank, and a bank with a slow or broken authentication journey drags results down regardless of vendor, so aggregate coverage numbers say little about your actual mix.
  • Pay by bank has no chargeback mechanism, which merchants like until a customer disputes a purchase and finds no scheme protection, making it a poor fit for categories where buyers expect card style recourse.
  • Pricing is unpublished and varies by market and product, so multi-country merchants cannot model cost without a full sales engagement and often find rates differ significantly between countries.
  • Open banking authentication requires the customer to leave the checkout and authorise in their banking app, and that redirect remains the largest source of drop-off compared with a stored card.

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

TrueLayer

On request
  • TrueLayer Payments and Data$undefined/year
    • Per-payment fees quoted by volume, market and product
    • Separate commercial terms for payment initiation, VRP and account information
    • Platform and minimum commitment terms negotiated per contract

Which should you pick?

Choose Akoya if

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

Choose TrueLayer if

  • You need pay by bank.
  • You work on Web, iOS, Android.
  • You also want variable recurring payments.
TrueLayer review

Questions people ask

Is Akoya or TrueLayer better?
Neither clearly leads. Akoya starts at On request and TrueLayer at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Akoya or TrueLayer?
Akoya starts at On request and TrueLayer at On request.
Does Akoya or TrueLayer run on more platforms?
Akoya runs on Web. TrueLayer runs on Web, iOS, Android.
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 TrueLayer is typically brought in for.
What can Akoya do that TrueLayer cannot?
Akoya covers FDX standard APIs, Token-based access, Investment data, Accounts, balances and transactions. TrueLayer covers Pay by bank, Variable recurring payments, Payouts and refunds, Account information.

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.

TrueLayer: Is VRP available outside the UK?

No. Variable recurring payments are a UK capability. EU adoption is on a slower path, with UK commercial VRP expanding into ecommerce during 2026.

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.

TrueLayer: What does TrueLayer cost?

Not published. Per-payment fees are quoted by volume, market and product, usually with a platform component and a minimum commitment.

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.

TrueLayer: Are there chargebacks on pay by bank?

No. Bank transfers have no card scheme chargeback mechanism, which removes that cost but also removes buyer recourse, so it suits some categories and not others.

Akoya: Does it help with CFPB section 1033?

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

TrueLayer: Which countries are covered?

The UK plus a substantial set of European markets under PSD2, though bank-level coverage and conversion vary by country and should be checked for your specific mix.

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