American Bankers Association, Mastercard and Visa among latest members of FDX
RESTON, VA (August 28, 2019) — The Financial Data Exchange welcomed eight new members between May 1 and July 31, 2019, bringing the total membership to 55 organizations spanning the full breadth of financial services ecosystem, from financial institutions to data aggregators, banking core processors and fintechs.
FDX adds eight new members, including the American Bankers Association, Mastercard and Visa
FDX is aligning industry players to bring a common approach to consumer control of financial data through an open banking API and technical standards that prioritize security, transparency and user experience. The newest members include: The American Bankers Association (ABA), Blanc Labs, Flinks, Mastercard, Mountain America FCU, Principal Life Insurance Company, SunTrust and Visa.
For organizations or individuals looking to learn more about secure financial data sharing, FDX has published the “ABCs of APIs” a must-read whitepaper for anyone looking to educate themselves on financial industry APIs.
“There’s a lot of focus globally on secure and transparent data sharing where the consumer is in control,” said Don Cardinal, FDX managing director. “Our focus continues to be on educating the industry on the benefits of a common, consumer-first framework. With each new member, we get closer to fully delivering that vision.”
The FDX API reflects the latest thinking in the financial data sharing space, from the data specification to the security and authentication protocols. Top experts in each discipline are contributing to the standard’s design, and the FDX working groups ensure that the standard continues to evolve and keep pace with technological innovations and consumer expectations.
The FDX board of directors includes Bank of America, BB&T, Capital One, Charles Schwab, Citigroup, Envestnet | Yodlee, Experian, Fannie Mae, Fidelity Investments, Finicity, Fiserv, FS-ISAC, Intuit, JPMorgan Chase, Plaid, PNC Bank, N.A., Quicken Loans, SIFMA, TD Bank, TCH, USAA, U.S. Bank, Wells Fargo and Xero.
FDX adds eight new members, including the American Bankers Association, Mastercard and Visa.
About Financial Data Exchange (FDX)
The Financial Data Exchange is a non-profit financial industry organization dedicated to promoting and enhancing a common interoperable standard and operating framework for sharing consumer financial data. FDX puts consumers in control of their personal financial data. Open to all financial institutions and fintech companies, FDX facilitates collaboration in the development, growth and industry acceptance of the standard and security requirements. FDX is a subsidiary of FS-ISAC. For more information and to join, visit www.financialdataexchange.org/
