Putting the customer first in the emerging economy of embedded finance
Axway and Akoya have joined forces to provide comprehensive and secure connectivity to share customer financial data with the entire fintech ecosystem, based on common, open standards.
Based on Financial Data Exchange (FDX) API specification, the de facto North American open banking standard, financial institutions (FIs) can leverage Axway and Akoya’s combined solutions to quickly and easily publish external APIs that enable their customers to securely share their data with the fintech services they demand.
Benefits of the Axway/Akoya partnership
- Quickly scale up fintech partnerships. Streamline bank to fintech integration and shorten time to delivery of fintech services to customer.
- Eliminate bespoke partner connections. Provide a single access point that allows fintechs to use your customer banking data.
- Engage with pre-vetted fintech partners. Securely connect users to their financial data within a trusted ecosystem of participants.
- Easily integrate existing IT assets. Publish all your open banking and proprietary APIs automatically in one place.
- Maintain the latest FDX API releases. Focus on what matters to you: growing your business.
About Akoya
The Akoya Data Access Network is simplifying data access for open finance. Through a single integration with Akoya, financial institutions, fintechs, and data aggregators can enable multiple API connections and avoid continued maintenance and development efforts. Akoya handles all data-sharing relationships on behalf of network participants and removes the myriad of internal and external costs required to develop and manage multiple third-party agreements. Akoya optimizes for security, transparency, and scalability, and offers a passthrough model that does not copy, store, or hold any financial data or personal information. The network is an interoperable solution available to the entire financial services industry. The independent company is co-owned by 12 of the largest North American financial institutions.
Amplify Open Banking: All you need out-of-the-box to remove screen scraping and prepare for open banking
Amplify Open Banking offers secure, pre-configured open banking APIs built to the FDX standard for rapid adoption, enabling financial institutions to remove screen scraping ahead of the upcoming CFPB regulation. The solution comes bundled with the Amplify Enterprise Marketplace, providing a universal API catalog with auto discovery of all your proprietary APIs, regardless of the API gateways you are using. Both open banking and your proprietary APIs are accessible from one place and can be published in an advanced developer portal branded. Optional low-code/no-code integration platform facilitates the integration of the FDX APIs with your core banking systems.