FMR LLC, the parent of Fidelity Investments, is spinning off financial data firm Akoya into a company that will be jointly owned by Fidelity, The Clearing House Payments Co. and 11 member banks. 

Akoya owns a secure application programming interface network that creates a safe way for consumers to share personal finance data with third-party financial apps. The deal is designed to help consumers gain more control over how their data is shared with fintechs, according to a press release.

"Consumers' personal financial data should only be accessed with their explicit consent and they should have the ability to monitor and revoke that access," Abigail Johnson, chairman and CEO of Fidelity, said in the release. "For this reason, we created Akoya and are joining with several financial institutions to accelerate the availability of a secure, transparent and more reliable network for the entire financial services industry."

The owners include Bank of America, Capital One, Citi, FMR, Huntington Bank, JPMorgan Chase, KeyBank, PNC Bank, The Clearing House, TD Bank, Truist, U.S. Bank and Wells Fargo. 

Cover image: Fidelity