Joining Chase and Wells Fargo, TD Bank joins Akoya financial data network
- TD Bank’s customers will be able to securely provide access to their banking data to fintech apps and data aggregators using Akoya
- This data is not copied or stored and is provided in a standard output based on the Financial Data Exchange’s API standard.
TD Bank is joining the Akoya Data Access Network.
With this new partnership, TD Bank’s customers can opt to securely share access to their banking data with fintech apps and data aggregators. Third-parties receiving financial data will be able to access TD Bank’s U.S. customer data via APIs, as opposed to the less secure practice of screen scraping.
All data between the bank and applications will move through a single point, Akoya APIs. This data is neither copied nor stored. It is also provided in a standard output based on the Financial Data Exchange’s API standard.
TD Bank can support its customers’ demand for fintech services, without putting their data at risk. For data receivers, this can earn them customer trust, from people who were nervous about sharing their sensitive bank credentials.
“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,” said Rizwan Khalfan, Chief Digital and Payments Officer, TD Bank.
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