Jack Henry & Associates, a SaaS provider to the banking industry, has joined Akoya Data Access Network.

The Akoya Data Access Network connects data aggregators and fintechs with financial institutions. It will enable the fintech apps obtain consumer-permissioned financial data through APIs.

The new partnership will enable financial institutions, which use Jack Henry’s Banno Digital Platform, to connect with fintechs and data aggregators.

According to a statement, around 400 banks and credit unions use Banno Digital Platform.

Jack Henry Digital head Ben Metz said: “Partnering with Akoya gives hundreds of community banks and credit unions the ability to bring more fintech apps within their own ecosystem and empower consumers to better control their data privacy and security.

“This is the future of banking; a transition away from screen scraping in favor of full financial access through one’s primary financial institution. It’s how community banks and credit unions will compete.”

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Akoya CEO Stuart Rubinstein said: “Financial institutions understand the pressing need for secure consumer-permissioned data access but standing up an API infrastructure is complicated and expensive, especially for small-to-midsize financial institutions who don’t have the resources or expertise to build an Open Finance ecosystem themselves.

“With Jack Henry leveraging the Akoya Data Access Network, Banno Digital Platform clients now have a straightforward API solution that better protects customers who want to share their data with fintech apps and services.”

Earlier this year, US-based financial institution Univest Bank and Trust has expanded its partnership with Jack Henry Banking.