Jack Henry and Akoya to offer customers API-based access to their financial data

By integrating with Akoya, Jack Henry enables over 4.8 million customers of banks and credit unions using its Banno Digital Platform the ability to grant fintech apps access to their financial data. They will also be able to permission which data they share with third parties and revoke that permission at any time, according to the official press release.

APIs can eliminate the risks associated with credential-based data aggregation, which requires consumers to provide their login credentials to use various fintech apps and services. APIs can improve data access reliability and reduce cybersecurity, privacy, and financial risks through connections between data providers and recipients.

Akoya helps financial institutions of all sizes by eliminating the need to develop and manage an API infrastructure program on their own. With an integration on to its network, Akoya connects fintechs and data aggregators with data providers to receive data access using the Financial Data Exchange API standard.