RESTON, Va., March 13, 2024 – The Financial Data Exchange (FDX) announces a significant milestone at its Spring Global Summit in Washington, DC today, reporting that 76 million consumer accounts are now actively utilizing its FDX API for secure open finance data sharing. Since FDX’s last report in October of 2023, an impressive 11 million additional consumer accounts were transitioned to the FDX API, highlighting the widespread trust and acceptance of a standardized approach to accessing and sharing financial data. FDX anticipates this growth trajectory to persist.
In response to this achievement, Don Cardinal, Managing Director of FDX, commented, “What an amazing milestone! 76 million consumers using the FDX API is a testament to the 230+ member organizations’ belief in the mission of secure consumer-permissioned data sharing.”
Today’s announcement is based on findings from FDX’s Spring 2024 FDX Adoption Metrics Survey, which compiles data from more than 230 FDX member organizations. While the FDX API remains freely accessible, it is important to note that this survey does not include non-FDX member data.
Currently defining approximately 660 unique financial data elements, the FDX API revolutionizes how individuals and businesses securely access and manage their financial information.
FDX’s dedication to interoperability has encouraged collaboration among more than 200 financial industry members and stakeholders. All FDX members, regardless of size, can contribute to the development, growth, and industry adoption of the FDX API and other objectives through FDX working groups and task forces. Ensuring a comprehensive perspective on financial data sharing, FDX’s Board of Directors includes Bank of America, Citi, Capital One, Envestnet | Yodlee, Experian, Fannie Mae, Fidelity, Finicity, FS-ISAC, Intuit, JPMorgan Chase, MX, Plaid, PNC, Rocket Mortgage, Equifax Canada, Schwab, SIFMA, TD Bank, The Clearing House, Truist, USAA, US Bank, Wells Fargo, Xero, National Bank of Canada, and a rotating observer-level seat for consumer advocacy groups.
About FDX
Financial Data Exchange, LLC (FDX) is a non-profit organization operating in the US and Canada that is dedicated to unifying the financial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data. FDX empowers users through its commitment to the development, growth, and industry-wide adoption of the FDX API, according to the principles of control, access, transparency, traceability, and security. Membership is open to financial institutions, fintech companies, financial data aggregators, consumer advocacy groups, payment networks and other industry stakeholders. FDX is an independent subsidiary of FS-ISAC. For more information and to join, visit www.financialdataexchange.org.