Open Financial Exchange is an open standard for client-server systems and cloud based APIs for exchanging financial data, and performing financial transactions between financial institutions, and financial applications.
Further, the API allows the exchange to be facilitated either directly or via an intermediary such as data aggregation service providers.
OFX has been the dominant direct API for banks to provide data to financial applications since 1997. It is actively deployed at over 7,000 financial institutions, and the remaining institutions have easy access to certified OFX servers via all major technology providers and systems integrators.
The Open Financial Exchange specification is publicly available for implementation by any financial institution or vendor, and is available for review on this website. Open Financial Exchange is being used by CheckFree, Intuit, Microsoft and many others as the mechanism for supporting financial data exchange in their products and services.
OFX is widely implemented (>7,000 OFX FIs).
OFX is developed and maintained by an active consortium of leading financial application, aggregation services, and financial services providers.