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TD Bank Taps Akoya to Power Secure Open Banking API Access

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TD Bank Taps Akoya to Power Secure Open Banking API Access

TD Bank U.S. and data network Akoya are collaborating to help financial apps and data providers connect to TD through secure APIs, the companies said in a Tuesday (Oct. 20) press release.

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The companies will accomplish this by deploying Akoya’s Open Finance Solution (OFS), which includes API infrastructure and operational support for connecting financial institutions to FinTechs and data aggregators, according to the release.

TD and Akoya will begin bringing apps and data aggregators onto the platform in the fourth quarter, per the release.

The companies’ collaboration will enable TD clients to use these resources without having to share their bank login credentials with third parties. It will also enable them to allow apps to access their financial information, see which ones have access and turn off that access at any time, the release said.

For third-party providers, the collaboration will provide a consistent way to connect with TD and will support connections that are more secure and easier to manage, per the release.

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S. digital banking, payments and consumer deposits at TD, said in the release that the collaboration will enable the bank to provide clients with both protection for their data and the flexibility to use their choice of digital tools and services.



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