Business accounts
Business accounts are outside the rule.
Small business and commercial customers still want their accounting and ERP systems connected, and the standard supports it.
Open finance and open banking
Building open bankingon the FDX standard.
Customers share their financial data with apps, aggregators and their own accounting & ERP systems. Open banking replaces screen scraping with standard, consented APIs, and in the U.S. the industry is converging on the FDX API. Built or bought, that layer still has to be connected to your core, cards, lending and treasury systems.
The Financial Data Exchange
The FDX API is an industry-written standard for sharing financial data.
FDX is a nonprofit standards body of banks, fintechs, aggregators, consumer groups and others. Its API defines the data, consent and security for sharing permissioned consumer and business financial data.
About 200
member organizations: banks, credit unions, fintechs, aggregators, payment networks and consumer advocates.
FDX, April 2026114 million
customer accounts on FDX-aligned APIs, as FDX reported in 2025.
FDX, April 2025v6.4
the FDX API's Spring 2025 edition, adding a consent API and a data format aimed at the Section 1033 rule.
FDX, June 20252030
The CFPB recognized FDX as a standard-setting body in January 2025, for five years.
CFPB order of recognition99.5%
the minimum response rate the final Section 1033 rule sets for a bank's developer interface.
CFPB final rule, October 2024One year
the longest a third party's access lasts under the final rule before the customer must re-authorize it.
CFPB final rule, October 2024Banks on FDX's board include JPMorgan Chase, Bank of America, Wells Fargo, Capital One, PNC and USAA, alongside The Clearing House, Akoya, Plaid, MX, Envestnet | Yodlee, Mastercard and PayPal. See FDX's leadership, or the standard at financialdataexchange.org.
Taking part in the consortium
Implementing the standard and taking part in FDX.
A bank can implement the FDX API without joining. Members have a say in what later versions require.
- 01Read the specificationFDX offers an observer route to the specification for organizations implementing it before or without joining.
- 02Join as a data providerTiered membership for banks and credit unions, with seats in working groups on data, security, consent and certification.
- 03Influence new editionsFDX releases new editions regularly. Members see changes early and argue for what their customers and systems need.
- 04Prepare for certificationThe CFPB's recognition order notes FDX is developing a certification program for data providers. Building to the standard now shortens that path.
Membership details are on FDX's membership page.
The Section 1033 rule
The Section 1033 rule is being reconsidered, and its compliance dates are stayed.
The CFPB's personal financial data rights rule would require banks to share consumer data through a standard developer interface. Customer demand for safe, consented data sharing continues while it is on hold.
- Oct 2024The final ruleCompliance dates by size, from April 2026 for the largest banks to April 2030 for those with $850 million to $1.5 billion in assets; the smallest exempt.
- Aug 2025ReconsiderationThe CFPB asked for comment on who may act for a consumer, fees, security and privacy.
- Oct 2025The dates are stayedA federal court barred enforcement and stayed the compliance dates until the CFPB completes its reconsideration.
- 2026A new proposalA revised proposal was reported sent for federal review in August 2026. It may change the dates and duties.
The CFPB's personal financial data rights and reconsideration pages, and the ABA Banking Journal on the court's order. The rule covers consumer accounts, not small business accounts; the FDX API covers business data too.
How Ignite supports you
We build the integration behind the API, whoever provides the front end.
We integrate cores, cards, lending, digital and treasury platforms, and the API layers that join them. On an open banking program we do that and the entitlements work it depends on.
01
Strategy and readiness
Where your systems and data stand against the standard and the rule, and build or buy, decided on evidence.
02
API development
The integration layer to every system of record, through your gateway, mapped to the FDX data model.
03
Consent and entitlements
Who may share which account, enforced the same way in the portal and the API.
04
Provider integration
If you buy a platform, we connect it to your stack and test it end to end.
Build or buy
Whether a bank builds or buys the API layer, the integration behind it is the bank's.
A platform gets you the customer-facing API, consent dashboard and developer portal sooner. Building gives you control and one fewer vendor.
| Buy a platform | Build your own | |
|---|---|---|
| The standard | The provider tracks each FDX release | Your team implements and tests each release |
| Consent and dashboard | Included, in the provider's design | Designed and built to your experience |
| Developer onboarding | A portal and sandbox, often included | Yours to build, document and support |
| Security profile | The provider's, reviewed by your teams | Yours to design, test and evidence |
| Cost shape | A subscription that grows with use | Engineering time, then ongoing upkeep |
| The risk | Another critical vendor, and its data model | A standard that keeps changing |
Either way
The integration with your core, cards, lending, wealth and treasury systems, the mapping of their data to the standard, and the checks on who may share which account stay with the bank.
The providers
The providers include platforms, networks and your vendors' own APIs.
Some sell the bank its API layer, some run the networks the data travels over, and some are core and digital providers' own offerings. We don't rank or resell any of them, and we work with the one you choose.
Ninth WaveOpen finance platformFDX-standard APIs for banks, with consent, governance and connections to business accounting systems.ninth-wave.com
AkoyaData access networkA network for permissioned data sharing between institutions and the apps their customers use.akoya.com
PlaidCore ExchangeAn FDX-aligned specification for institutions to build to, connecting them to Plaid's network.plaid.com
MXData accessConsumer-permissioned API connections between institutions and the apps that use their data.mx.com
Envestnet | YodleeOpen financeA permissioned data platform for institutions and the fintechs they serve.yodlee.com
AxwayAmplify Open BankingAPI management and consent for banks building their own layer to the FDX standard.axway.com
FISOpen AccessData sharing for FIS institutions through standardized FDX APIs.fisglobal.com
FiservAllData ConnectA hosted hub for third-party data access, with tokenized credentials and consent tracking.fiserv.com
Jack HenryDeveloper platformThe Banno SDK and APIs, including an authentication framework for partner connections.jackhenry.dev
Behind the API
What the bank builds behind any provider's API.
Whatever faces the customer, the bank's own API stack has to be connected to it: the systems that hold data, the rules on who may see it, and the operations that run it.
Integration
Systems of record
Deposits, cards, loans, wealth and treasury, each connected through the bank's API gateway, in real time where the standard expects it.
Data mapping
Each system's fields mapped to the FDX data model, with the gaps found and decided before a recipient finds them.
Performance
Response times and availability the rule can measure, from systems not built to be called this often.
Consent and access
Consent and tokens
What the customer agreed to share, with whom, and until when, enforced on every call and revocable at any time.
Who may share what
Joint owners, authorized users and business users checked against the bank's entitlements, account by account. Entitlements and the portal.
Authentication
The customer signs in with the bank, never handing credentials to a third party, under a strong API security profile.
Operating it
Monitoring and reporting
Uptime, response rates, errors and access, measured and reported.
Third-party risk
Due diligence on the recipients and aggregators connecting, and a way to cut off one that misbehaves.
Turning off scraping
A plan to move recipients from screen scraping to the API, and to stop credential sharing once they have.
What catches teams out
Where open banking programs run into problems.
Most come from the bank's own data and rules rather than the API.
Entitlements
Sharing exposes gaps in who may see what.
A business user with view rights on one account, a joint owner and a power of attorney each need a clear answer before an API gives one.
Data quality
The API exposes data quality problems.
Missing fields, inconsistent transaction descriptions and systems that disagree become visible to all recipients at once.
A moving standard
New editions of the specification.
Plan for new editions of the FDX API, and for recipients on different versions at the same time.
Scraping persists
Screen scraping continues after launch.
Until recipients move and credential access is turned off, the bank runs both the API and the screen scraping it replaces.
The rule's next draft
Design to the standard while the rule changes.
The reconsideration may change fees, scope and dates; a standards-based design holds up under most outcomes.
Spend 30 minutes with us
Talk with us about your open banking program.
No pitch, no obligation. And if we're not the right team for it, we'll tell you that too.