Financial Data Exchange (FDX)

The Financial Data Exchange (FDX) is an industry-led non-profit organisation that develops and maintains the FDX API technical standard for consumer-permissioned financial data sharing. Founded in 2018, FDX has become the de facto standard for open banking in North America.

The FDX API standard defines a comprehensive set of RESTful APIs for sharing financial data including deposit accounts, loan accounts, investment accounts, insurance policies, tax data, and reward programmes. The standard emphasises consumer control, security, and interoperability.

FDX version 6.0 includes enhanced support for the CFPB's Section 1033 rulemaking under the Dodd-Frank Act, which mandates that financial institutions make consumer data available through standardised interfaces. Major US banks including JPMorgan Chase, Bank of America, Wells Fargo, and Citibank participate in FDX.

The standard is also gaining adoption in Canada, where the Consumer-Driven Banking framework references FDX specifications. FDX membership includes over 200 organisations spanning financial institutions, data aggregators, fintechs, and consumer groups.