Is Akoya profitable in 2026?

Akoya discloses no audited revenue or profitability figures. As of June 6, 2026, third-party estimates put revenue near $42M but this is unverified and likely stale, so no public confirmation of profitability exists for this privately-held bank-owned network.

Akoya was spun off from Fidelity (FMR LLC) on February 20, 2020, jointly owned with The Clearing House Payments Co. and 11 member banks including JPMorgan Chase, Bank of America, PNC, Wells Fargo, Citi and Truist, per the spinoff announcement.

Is Akoya losing to Plaid?

Plaid has been valued above $10B (as of July 23, 2023) with broader US developer coverage. Even Akoya's own owner-banks multi-source connectivity, e.g. PNC signed a direct data-access agreement with Plaid on September 20, 2024, showing Akoya lacks exclusivity.

Could AI replace Akoya?

Unlikely to replace it directly: Akoya is a consent and API connectivity layer (plumbing), not analytics, so generative AI doesn't easily substitute it. AI-driven enrichment tools from rivals like MX could however commoditize value-add services layered on top of raw bank data.

What happened to the CFPB Section 1033 rule that Akoya relied on?

The Personal Financial Data Rights rule, finalized October 2024, was enjoined by a federal court in the Eastern District of Kentucky. The CFPB opened an Advance Notice of Proposed Rulemaking on August 27, 2025, calling the rule unlawful and seeking to substantially revise it.

PNC Chairman and CEO Bill Demchak is listed as Akoya's Chairman on the company's own site. Multiple third-party business directories, including ZoomInfo as of June 6, 2026, name Paul LaRusso as Akoya's CEO.

Payments companies · United States

Akoya

akoya.com ↗

Bank-owned network that lets apps like Venmo pull your bank data securely.

Losing its protection

Assessed 21 July 2026 · Evidence as of 21 July 2026

The structural protection is eroding.

On the recordSince 21 July 2026 · Checkable from 2026 · Every call on the record Checkpoint: CFPB rewrite of Section 1033 open banking rule finalized or killed

The call

Akoya survives on bank ownership, not growth, while the regulation that was supposed to force its adoption sits stalled in Washington.

Akoya helps banks share customer financial data with apps and other services. It has a real advantage because banks own it and it knows financial rules well, which Plaid (a much bigger competitor worth over $10 billion) struggles to match. However, the government rule that was supposed to force banks to share more data got blocked in court, so Akoya's main reason to exist just got weaker. Plaid, Mastercard, and Visa have all bought their own data-sharing companies and have way more money to spend. The one thing that could save Akoya is if the government successfully rewrites that rule to require banks to share data again, or if it can grow revenue fast enough to prove it does not need that rule to survive.

Why

AI pressure: None apparent. AI agents connecting to bank accounts still need a data pipe like Akoya's or Plaid's, this isn't an AI-native fight yet. Could AI do the core job? Unlikely.

Bigger players: Plaid, plus Mastercard's Finicity and Visa's Tink. Plaid alone is worth over $10B and wins most developer business, while Mastercard and Visa fund rival pipes that squeeze Akoya's room. Could a giant copy it? Probably.

What protects it. Owned directly by JPMorgan, Bank of America, Wells Fargo and other big banks who can just route data through it by fiat.

What would change this call

CFPB Section 1033 rewrite outcome is finalized. Shows whether Akoya's bank-favorable regulatory advantage survives or disappears.
Akoya headcount trend over next two quarters. Reveals whether the 29% YoY contraction is stabilizing or worsening.
A major bank owner (e.g. BofA, Wells Fargo, Citi) renews, expands, or exits its Akoya relationship. Tests whether bank-consortium backing remains firm or is eroding.

Key numbers

Headcount down 29% YoY to 85 staff (June 2026)
4,500+ banks and 7,500+ apps on its network (June 2026)
No priced funding round since 2020 spinoff (June 2026)

Named risks

Core regulatory tailwind, CFPB Section 1033, is enjoined with no confirmed rewrite timeline as of June 2026. Severity: high
Owner-banks also contract directly with rivals like Plaid, undermining Akoya's exclusivity. Severity: high
Third-party trackers report declining headcount trend through mid-2026, unverified exact figures. Severity: medium
No disclosed priced funding round, valuation, or revenue creates financial opacity. Severity: medium
New York State mini-1033 legislation could fragment open-banking rules across states. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Plaid	losing to	>$10B valuation (2023-07-23); PNC signed direct Plaid data-access deal 2024-09-20 despite co-owning Akoya
Finicity (Mastercard)	contesting	Mastercard-owned rival strong in lending/verification, competes for same bank customers
Tink (Visa)	contesting	Visa-owned, EU-focused but part of card-network consolidation trend pressuring independents
Envestnet\|Yodlee	contesting	Signed interoperability deal with Akoya Sept 2023 while remaining a competing aggregator

Questions people ask

Is Akoya profitable in 2026?: Akoya discloses no audited revenue or profitability figures. As of June 6, 2026, third-party estimates put revenue near $42M but this is unverified and likely stale, so no public confirmation of profitability exists for this privately-held bank-owned network.
Who owns Akoya?: Akoya was spun off from Fidelity (FMR LLC) on February 20, 2020, jointly owned with The Clearing House Payments Co. and 11 member banks including JPMorgan Chase, Bank of America, PNC, Wells Fargo, Citi and Truist, per the spinoff announcement.
Is Akoya losing to Plaid?: Plaid has been valued above $10B (as of July 23, 2023) with broader US developer coverage. Even Akoya's own owner-banks multi-source connectivity, e.g. PNC signed a direct data-access agreement with Plaid on September 20, 2024, showing Akoya lacks exclusivity.
Could AI replace Akoya?: Unlikely to replace it directly: Akoya is a consent and API connectivity layer (plumbing), not analytics, so generative AI doesn't easily substitute it. AI-driven enrichment tools from rivals like MX could however commoditize value-add services layered on top of raw bank data.
What happened to the CFPB Section 1033 rule that Akoya relied on?: The Personal Financial Data Rights rule, finalized October 2024, was enjoined by a federal court in the Eastern District of Kentucky. The CFPB opened an Advance Notice of Proposed Rulemaking on August 27, 2025, calling the rule unlawful and seeking to substantially revise it.
Who runs Akoya?: PNC Chairman and CEO Bill Demchak is listed as Akoya's Chairman on the company's own site. Multiple third-party business directories, including ZoomInfo as of June 6, 2026, name Paul LaRusso as Akoya's CEO.

Timeline

2026-06-26CFPB rewrite of Section 1033 rumored for early July 2026, no firm timeline confirmed
2025-11-18Akoya renews data-sharing agreement with JPMorganChase
2025-10-31Akoya submits comment letter on CFPB's Section 1033 ANPRM
2025-09-15Akoya publishes API monetization guide for financial institutions
2025-08-27CFPB opens ANPRM calling Section 1033 rule unlawful, seeks revision
2023-09-01Akoya signs interoperability agreement with Envestnet|Yodlee
2023-08-01Akoya signs data-sharing agreement with Fiserv
2022-12-31Huntington, M&T Bank and Truist sign on as Akoya partners
2020-02-20Akoya spun off from Fidelity as jointly owned network with 11 banks

Revision history

21 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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