The Financial Data Exchange (FDX), an organization that is empowering consumers with access and transparency to make informed financial decisions, has just reached its first of many membership milestones. Over 100 companies now belong to FDX, with its community growing to 103 in April.
As membership grows, so does the adoption of the FDX API, with various data aggregators, providers, and financial institutions shifting to the standard. In fact, over 12 million U.S. consumers are now accessing their financial data through FDX’s standard.
FDX launched in October 2018 with just 21 founding members but has seen its membership steadily climb. Between January 1 and March 31 of this year, 22 members joined FDX, including GT Software.
GT Software believes the standards and guidance that FDX gives our clients a clear and accessible path to an open banking framework. By providing a global standard, FDX is accelerating open banking adoption, reducing risk, and facilitating the security and privacy required in an open economy.
“We look forward to our involvement with FDX to help accelerate open banking adoption in the US by greatly simplifying and accelerating the enablement of legacy core banking systems,” said the president of GT Software, Steve Hassett.
Click here to learn more about FDX and its commitment to transitioning to a modern, transparent, and secure data-sharing approach.