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APIs · head to head

Akoya vs Trustly

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
Trustly logo

Trustly

APIs

Pay-by-bank payments network, majority-owned by private equity firm Nordic Capital

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.; Trustly it is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • They diverge on capability: Akoya covers FDX standard APIs, Trustly covers Pay by bank checkout.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Akoya and Trustly actually diverge.

Attributes where Akoya and Trustly differ
AttributeAkoyaTrustly
PlatformsWebWeb, 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 Trustly

  • Pay by bank checkout
  • Instant refunds
  • Verified payouts
  • Multi-market bank connectivity
  • Merchant dashboard and reconciliation
  • Fraud and risk tooling

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

Trustly

  • An e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptancenot Akoya
  • A gaming or gambling operator needing verified, instant payouts to players' bank accountsnot Akoya
  • A merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delaysnot Akoya
  • A business in a market with strong open banking adoption wanting pay-by-bank as a checkout optionnot 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.

Trustly

  • It is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • Consumer familiarity with paying by bank transfer still lags card payments in most markets, so merchants typically see it used as a secondary option rather than a full card replacement.
  • The 1.15 to 3.15% merchant fee range is not a single published rate, so a merchant cannot know its actual cost without a sales negotiation.
  • As with all open banking-dependent payment methods, reliability depends on the consistency of the underlying banks' own APIs, which Trustly does not control.
  • Its verified payout functionality is heavily used in gaming and gambling, a sector with additional regulatory scrutiny, which is worth factoring in when evaluating vendor risk exposure by association.

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

Trustly

On request
  • Trustly$undefined/month
    • Typical merchant cost of 1.15% to 3.15% depending on volume and market
    • Exact rate negotiated per merchant, not published as a flat card

Which should you pick?

Choose Akoya if

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

Choose Trustly if

  • You need pay by bank checkout.
  • You work on Web, API.
  • You also want instant refunds.
Trustly review

Questions people ask

Is Akoya or Trustly better?
Neither clearly leads. Akoya starts at On request and Trustly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Akoya or Trustly?
Akoya starts at On request and Trustly at On request.
Does Akoya or Trustly run on more platforms?
Akoya runs on Web. Trustly runs on Web, 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 Trustly is typically brought in for.
What can Akoya do that Trustly cannot?
Akoya covers FDX standard APIs, Token-based access, Investment data, Accounts, balances and transactions. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

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.

Trustly: Who owns Trustly?

Nordic Capital, a private equity firm, holds a 51.1% majority stake; Alfven & Didrikson and BlackRock hold smaller stakes.

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.

Trustly: Is Trustly going public?

It has discussed an IPO but as of its most recent comments said one remained at least a year away.

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.

Trustly: What does it typically cost a merchant?

Roughly 1.15% to 3.15% of transaction value depending on volume and market, negotiated per merchant.

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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