02.24.20
Fidelity, Large Banks Join Forces to Build Data Sharing Network
by: Victoria Guida
A group of large banks is linking up with Fidelity Investments to launch a data sharing network with the goal of giving consumers more control over which companies and apps have access to their financial information. The financial institutions announced Thursday that Akoya, previously owned by Fidelity parent company FMR, has been spun off as an independent entity and is now jointly owned by 11 banks, FMR, and The Clearing House Payments Co. Akoya lets customers choose which apps can access data from their bank, mutual fund, and brokerage accounts and how much information those apps can access.
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