The Financial Data Exchange (FDX) announces technical standards and updates

Wednesday 9 December 2020 15:23 CET | News

The Financial Data Exchange (FDX) has announced its Fall release including technical standards and updates to the existing specification of the financial services marketplace.

In the FDX Fall release the reader can find more info about the following topics:
  • FDX API v4.5 – This latest version of FDX API includes new features that improve account number security via an optional use of tokenized data for payments and improves the data quality for use cases such as lending via expanded account holder information fields.

  • User Experience (UX) Guidelines v1.0 – This first iteration of the FDX UX Guidelines provide implementers of the FDX API with clear direction for designing permissioning processes for end-users to grant consent to access their financial data.

  • Personal Financial Management (PFM) Use Case – Developed after months of consultation among FDX members, this first FDX defined use case provides end-users with access to data they need to manage their personal finances while providing data minimization so that only necessary data is shared.

Other discussed topics of the FDX Fall release are:
  • Taxonomy of Permissioned Data Sharing

  • FDX Financial-Grade API Security Specification v3.2

  • Control Considerations v3.2

  • Foundational Requirements v1.0

More: Link

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Keywords: FDX, Financial Data Exchange, standards, guidelines, financial services, API, UX, security, data sharing
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech

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