Akoyavs
Plaid
Plaid: Far broader institution coverage, particularly small banks and credit unions, at the cost of a less bank-sanctioned access model
Akoya
Bank-owned, token-based open finance network that replaces screen scraping for US financial data
As of 31 August 2026, Akoya's pricing is not published; the vendor quotes on request. Akoya moves consumer financial data between institutions and applications over FDX APIs with tokens instead of stored credentials. Softwr lists it under APIs. Akoya is made by Akoya LLC, available on Web.
Overview
What Akoya does
Akoya operates a data access network for US open finance. Rather than a third party holding a consumer bank credentials and scraping a website, an institution issues a token under the Financial Data Exchange API standard, and a data recipient uses that token to retrieve specified data: accounts, balances, transactions, investment holdings and tax lots, statements, customer identity and tax forms. Both sides connect once to Akoya rather than building bilateral integrations, and the consumer can see and revoke permissions. Ownership is the decisive fact. Akoya was spun out of Fidelity and is owned by a group of large US banks. That gives it something no independent aggregator has: direct, sanctioned connections to institutions that actively resist scraping. Fidelity itself cut off screen scrapers and routed access through Akoya from October 2023, so for Fidelity brokerage and retirement data Akoya is not one option among several, it is the way in. Investment and retirement data, including tax lots, is where the network is strongest and where aggregators are weakest. The same ownership is the limitation. Coverage priorities follow bank owner interests, and while the network reaches several thousand institutions, breadth across small credit unions and long-tail institutions does not match a scraping-capable aggregator. Buyers are wealth management platforms, tax and accounting software, lenders and any application needing brokerage or retirement data with a defensible permissioning story under CFPB section 1033. Pricing is usage based and quoted. Most practical build decisions end with Akoya for investment data plus an aggregator for everything else.
What people use it 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
Related searches
The honest half
Where it falls short
Concrete and checkable, so you can decide whether any of them matter to you. This is the half of a review a vendor will not write about 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.
Cross-shopped
What people choose instead of Akoya
Each pairing was judged by two reviewers asking whether a buyer would genuinely weigh the two against each other. The ones that failed were deleted rather than published.
- AkoyavsYodlee
Yodlee: Long-established aggregation with wide coverage and enterprise contracts
Pricing
What Akoya costs
Taken from the vendor's own pricing page. Prices move, so check before you buy.
Akoya Data Access
On request
- 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
- Sandbox access for development before commercial agreement
Capabilities
Features
FDX standard APIs
Implements the Financial Data Exchange specification so the data model is consistent across institutions
Token-based access
OpenID Connect tokens replace stored usernames and passwords, so credentials are never held by the recipient
Investment data
Holdings and tax lots, which is the strongest part of the network and the weakest part of most aggregators
Accounts, balances and transactions
Core deposit and card data for budgeting, lending and verification use cases
Statements and tax forms
Document retrieval including tax forms for accounting and lending workflows
Customer identity
Verified account holder details from the institution rather than user entered
Consumer permission management
Consumers can view and revoke which recipients hold access to which data
Single integration
One connection for institutions and for recipients rather than bilateral agreements with each counterparty
Answered, with sources
Questions people ask
Each answer names the page it came from, so you can check it rather than take our word for it.
Who owns Akoya?
A group of large US banks. It was spun out of Fidelity, which is why Fidelity data access runs through it.
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.
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.
Does it help with CFPB section 1033?
It is designed around it, providing tokenised permissioned access and consumer revocation rather than credential sharing.
Keep looking
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Softwr does not host reviews and shows no star rating for Akoya, because a rating we did not collect is not ours to publish. What is here is the pricing and platform detail from the vendor’s own pages, limitations we could state concretely, and alternatives a reviewer confirmed people weigh against it. Tell us if any of it is wrong.
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