BOSTON–(BUSINESS WIRE)–Akoya today announced that Paul LaRusso has been named Chief Executive Officer and will remain a member of Akoya’s Board of Directors, succeeding Stuart Rubinstein in the role which, in early 2022, shared with the Board his desire to retire by the end of the year.
“On behalf of the Board of Directors, I am delighted to have Paul join the role of CEO of Akoya,” said Dave Fortney, Chairman of Akoya’s Board of Directors. “Paul brings significant experience enabling consumers to securely share data with trusted parties and has extensive knowledge of data aggregation and digital financial spaces. ‘Akoya since its inception in 2020 and I look forward to working closely with him in his new role.
LaRusso will join Akoya on Feb. 15 from JPMorgan Chase, where he most recently served as head of data aggregation for Consumer & Community Banking. In this role, he led the industry in building the infrastructure to provide greater control and protection for consumers sharing their financial data. He was responsible for Chase’s data access channel and APIs which support hundreds of millions of API calls per month for millions of consumers and small businesses sharing data with thousands of third-party applications. . Through his leadership, Chase completely eliminated screen scraping in October 2022. LaRusso was also responsible for negotiating deals with several leading aggregators and fintechs, setting up Chase’s own aggregation services allowing customers access their withheld finances and partner with Open Banking industry groups and regulators.
“I am honored and excited to lead Akoya, a company that plays a vital role in the open finance industry,” said LaRusso. “Akoya is accelerating the availability of secure data access while providing more control and visibility to consumers. I look forward to continuing the mission of giving consumers more control over their data and providing a secure and reliable network for the entire financial services industry.
During his more than 14-year career at Chase, LaRusso has held additional leadership roles including Product Manager for Digital Services, responsible for Chase’s online communications and service products used by 40 million customers. active user and product owner for mobile where he led the strategy and deployment of Chase’s first mobile banking applications. LaRusso is also co-chairman of the board of directors of Financial Data Exchange (FDX) and served on the board of directors of Akoya.
Prior to joining Chase, LaRusso worked in the mobile industry for Verizon and Sprint. He holds a BA in International Relations and Spanish from Bucknell University and an MBA from Georgetown University.
“I am grateful to have had the opportunity to lead a talented team of professionals who have already had a significant impact on improving the way consumers provide third parties with access to their financial data,” said Rubinstein. “This journey is far from over, but I believe the time is right to hand over the company to a new leader who is well positioned to lead Akoya into its next stage of growth. I am confident that the company is between good hands with Paul LaRusso, and I look forward to following his success.
Akoya’s Data Access Network simplifies data access for open finance. Through a single integration with Akoya, financial institutions, fintechs, and data aggregators can enable multiple API connections and avoid ongoing maintenance and development efforts. Akoya manages all data sharing relationships on behalf of network participants and eliminates the myriad internal and external costs required to develop and manage multiple third-party agreements. Akoya maximizes security, transparency, and scalability, and offers a relay model that doesn’t copy, store, or retain any financial data or personal information. The network is an interoperable solution available to the entire financial services industry.