Akoya implements Financial Data Exchange API specifications, which remove the need for bank customers to share login credentials in order to provide third-party financial apps access to their financial data.
Wells Fargo will begin making data available to the network later in 2021, as customers authorise Akoya-connected fintech apps and services to access their Wells Fargo account information. Wells Fargo will continue to maintain direct API connections with third-party fintech apps and data aggregators that have signed data exchange agreements with the company.
Wells Fargo previously announced plans to transition 99% of current third-party financial app screen scraping to API-based data exchange.
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