CHERRY HILL, N.J., Sept.
13, 2021 /PRNewswire/ -- Akoya LLC announced today that TD
Bank, U.S. has joined the Akoya Data Access Network. The Bank
will build on its original investment in Akoya to enable fintechs,
data aggregators, and other data recipients to request application
programming interface (API)-based access to TD Bank's U.S. customer
data through Akoya.
"TD has always had a strong commitment to digital innovation,
and that means continuing to invest in new ways for our customers
to manage their finances online," says Rizwan Khalfan, Chief Digital and Payments
Officer, TD. "Our relationship with Akoya leverages the use of APIs
to give our customers an enhanced experience as well as more
privacy and security when sharing their data."
TD Bank's integration with Akoya eliminates the need for TD Bank
customers to share their banking information, specifically a login
and password, with third parties who are connected to Akoya. This
arrangement enables Akoya to provide a single point of
integration for data aggregators and fintechs to securely access
consumer financial data from TD Bank.
"Our goal is to make financial data access easy and secure so
that consumers feel confident using fintech apps," said
Stuart Rubinstein, CEO of Akoya.
"APIs provide a safer, secure way for customers to share data and
will play a key role in helping to facilitate innovation through
the creation of data-driven apps and financial services -– a
win-win for Open Finance."
Data passed through the Akoya Data Access Network is not copied
or stored and is provided in a standard output based on the
Financial Data Exchange's API standard. TD Bank will begin
providing data through Akoya as early as October 2021.
Akoya was launched to eliminate the risks associated with
credential-based data aggregation, commonly known as screen
scraping. TD Bank invested in Akoya in February 2020.
Akoya is changing the way consumer financial data is accessed
and shared. Through a single integration on to the Akoya Data
Access Network, data aggregators and fintechs can directly connect
with financial institutions to securely obtain
consumer-permissioned financial data through APIs. Akoya manages
these relationships and serves as an interoperable solution that is
available to the entire financial services industry. The
independent company is co-owned by 12 North American financial
institutions. To learn more, please visit www.akoya.com or follow
on LinkedIn and Twitter.
About TD Bank, America's Most Convenient
TD Bank, America's Most Convenient Bank, is one of the 10
largest banks in the U.S., providing more than 9.6 million
customers with a full range of retail, small business and
commercial banking products and services at more than 1,100
convenient locations throughout the Northeast, Mid-Atlantic, Metro
D.C., the Carolinas and Florida.
In addition, TD Bank and its subsidiaries offer customized private
banking and wealth management services through TD
Wealth®, and vehicle financing and dealer commercial
services through TD Auto Finance. TD Bank is headquartered in
Cherry Hill, N.J. To learn more,
visit www.td.com/us. Find TD Bank on Facebook
at www.facebook.com/TDBank and on Twitter at
www.twitter.com/TDBank_US and www.twitter.com/TDNews_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank
Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services
company in North America. The
Toronto-Dominion Bank trades on the New
York and Toronto stock
exchanges under the ticker symbol "TD". To learn more, visit
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SOURCE TD Bank