Addressing the Challenges of Financial Data Sharing: Introducing 5 Consumer-Centric Principles
Thursday, November 21, 2019
As more and more financial services customers are seeking to leverage their financial data to help them better manage their finances, it's essential that industry come together to unleash the power of financial data for individuals and families.
Join the Financial Data Exchange (FDX) along with panelists from Wells Fargo and Enterprise Engineering, Inc. to learn about FDX’s Five Core Principles of Financial Data Sharing – Control, Access, Transparency, Traceability and Security. This webinar explores how firms in the financial services ecosystem can design consumer-first experiences while addressing the challenges and opportunities of consumer-permissioned data sharing. The results will be more empowered consumers with greater control and understanding of their financial lives, leading to improved financial well-being.
FDX is a non-profit organization dedicated to the mission of developing and implementing the FDX API. The FDX API is a common, interoperable, royalty-free financial data sharing standard, allowing consumers and businesses a secure and convenient way to share their data with their preferred service providers. The five principles are designed to guide the financial services ecosystem on the essential elements of a secure, transparent implementation of this standard.
But what do these principles mean in the real world?
Watch this webinar to learn how financial institutions, data aggregators, financial technology companies (“fintechs”) and other financial service providers can leverage this standard, which is based on the framework of the five core principles to increase customer satisfaction, while maximizing secure data sharing and minimizing maintenance of IT systems.
We will discuss:
- 5 core principles to guide industry development of data sharing technology
- Requirements for a robust data sharing ecosystem
- Benefits of using the FDX API vs. proprietary and off-the-shelf commercial solutions
- Tom Carpenter, Chair of Government Affairs Taskforce, Financial Data Exchange
- Anthony Burton, Manager, Digital Data APIs, Wells Fargo
- Tim Klemmer, Head of Open Banking, Enterprise Engineering, Inc.