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Dateline: TD Bank U.S. and Akoya, partnership, 20 October 2026
TD Bank U.S., the American arm of Toronto-Dominion Bank with more than 10 million clients, said on 20 October 2026 that it will use Akoya’s Open Finance Solution to connect data aggregators and third-party apps through APIs, bringing them on in phases from the fourth quarter of 2026. The release, Fintechbits notes, names none of the aggregators or apps joining first, sets no date for ending credential-based access at TD, and says nothing about whether TD will charge third parties for API data. Fintechs will judge the TD Akoya arrangement on exactly those gaps.
Deal: Phased onboarding of apps and aggregators beginning in Q4 2026What the TD Akoya arrangement changes
Most US fintech apps reach bank data in one of two ways. Either they use an API connection agreed with the bank, or they log in with the customer’s username and password and read the screen. Banks and regulators have been trying to retire that second method, screen scraping, for years.
Under the TD Akoya plan, more aggregators and third-party providers will connect to TD through APIs on Akoya’s platform, which the joint release says will reduce reliance on credential-based data access. The Open Finance Solution gives third parties one place to see which TD APIs exist, register applications and set up connections, and Akoya says it will keep adding features.
Jo Jagadish, head of US digital banking, payments and consumer deposits at TD, said clients “expect us to provide solutions designed to protect their data.” Paul LaRusso, chief executive of Akoya, said consumers should be able to “see who has access and turn it off anytime.”
The ownership ties behind the deal
The two companies are not strangers, and the release says so. TD has been an investor in Akoya since 2020, and Jagadish joined Akoya’s board in 2025. Akoya describes itself as a data network connecting more than 4,000 banks, credit unions and brokerages with financial apps through permissioned APIs.
That changes how the TD Akoya announcement reads. TD is not picking a neutral vendor. It is sending third-party access through a network it part-owns, which gives it more say over who connects and on what terms.
Fintechbits analysis
Fintechbits analysis
Why the TD Akoya Gaps Matter More Than the Announcement
The TD Akoya move points in the right direction, but it leaves out the commercial terms fintechs care about most.
API access is safer for customers than giving their passwords to apps. A customer who can see every connected app and cut one off is better protected than one whose credentials sit with a third party. Fintechbits’ explainer on what open banking is sets out why the US has moved more slowly on this than the UK and EU.
What the release avoids is everything a fintech would ask next. It names no aggregators. It does not say whether TD will switch off credential-based access, or when; without a cut-off date, the API route is an extra option rather than a replacement. And it is silent on fees. Large US banks have argued that they should be able to charge for data access, and fintechs have pushed back. A bank routing access through a platform it part-owns is well placed to set those terms, and TD has not said what they will be.
The pattern is familiar. Fintechbits covered the Chase Data Security Center in September 2026, another large bank giving customers a dashboard of connected apps. Big banks are shipping the consumer controls first and leaving the commercial terms for fintechs until later, which is usually where the disputes start.
Frequently asked questions
What is the TD Akoya partnership?
TD Bank U.S. will use Akoya’s Open Finance Solution so that more data aggregators and third-party apps can connect to TD through secure APIs. The aim is to reduce reliance on credential-based access such as screen scraping. Apps and aggregators will join in phases starting in the fourth quarter of 2026.
Does TD own part of Akoya?
Yes. According to the release, TD has been an investor in Akoya since 2020. Jo Jagadish, TD’s head of US digital banking, payments and consumer deposits, joined Akoya’s board in 2025.
What does the TD Akoya release leave out?
Fintechbits notes that the release names no aggregators or apps in the first phase, sets no date for ending credential-based access, and does not say whether TD will charge for API data. Those terms decide how useful the change is for fintechs.
What to Watch Next
The first phase is due to start in the fourth quarter of 2026. Look for the names of the first aggregators on the TD Akoya platform, and above all for any statement that TD will stop accepting credential-based connections. A cut-off date, more than the partnership itself, would change how fintech apps reach TD customers.
Why this matters
Fintechbits notes that the TD Akoya release names no aggregators, sets no end date for credential-based access and says nothing about API fees. TD Bank U.S. has more than 10 million clients, owns a stake in Akoya and will start phased onboarding in Q4 2026. The move toward APIs is safer for consumers. The risk for fintechs is that a bank-owned access platform sets commercial terms they have not yet seen.
Primary sources
businesswire.com | PRESS RELEASE | https://www.businesswire.com/news/home/20261020096480/en/TD-and-Akoya-Announce-Plans-to-Modernize-How-Clients-Connect-and-Share-Financial-Data
akoya.com | COMPANY WEBSITE | https://www.akoya.com
td.com | COMPANY WEBSITE | https://www.td.com/us
