WSJ Thursday 2/20 – Fidelity Spinning out Akoya

Much more than a spin out.. 12-18 banks got together and purchased Akoya with FMR retaining some of the equity. The new entity will have a BOD and Advisory committee comprised of banks. 

Akoya is the “data middleman” between bank platforms and aggregates. For example, if JPMC or Bank of America had an existing OFX service, Akoya could wrap that bespoke integration, add tokenized credentials and be the common integration point for PLAID, Intuit or Yodlee.