TD Bank Joins Akoya Network to Accelerate Open Finance Data Access

On September 13, 2021, TD Bank announced it was joining the Akoya Data Access Network, a platform designed to facilitate secure, API-based sharing of customer financial data with fintechs and other third parties. The integration was planned to go live in October 2021, enabling TD Bank customers to share their financial data with authorized fintech applications through standardized APIs rather than legacy screen-scraping methods. Akoya, originally incubated by Fidelity Investments, provides a centralized network that connects financial institutions with data aggregators and fintechs.

TD Bank's participation adds a major US retail banking franchise to the network, enhancing its value for fintechs seeking permissioned data access. The move aligns with broader industry trends toward open banking and open finance, giving customers more control over how their data is shared. Financial terms were not disclosed.

The partnership signals growing momentum among large US banks to embrace open finance infrastructure as a foundation for embedded financial services and fintech collaboration.