FDX Hits 94 Million Accounts, CFPB Publishes FDX's Standard-Setting Application
FDX Hits 94 Million Accounts, CFPB Publishes FDX's Standard-Setting ApplicationEN
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Home » FDX Hits 94 Million Accounts, CFPB Publishes FDX’s Standard-Setting Application

Financial Data Exchange (FDX) is proud to report that 94 million consumer accounts are now actively using the FDX API for secure, permissioned data sharing, as highlighted in our Fall Adoption Metrics Survey. This milestone represents an 18 million account increase since March 2024, underscoring the growing trust and adoption of standardized financial data-sharing practices across the industry.

FDX Hits 94 Million Accounts, CFPB Publishes FDX's Standard-Setting Application

The FDX API continues to play a pivotal role in transitioning the industry from outdated methods like screen scraping to more secure, API-based solutions, giving consumers greater control over their financial data.

CFPB Publishes FDX Application for Standard-Setting Organization (SSO) Recognition  
In addition to this growth milestone, the Consumer Financial Protection Bureau (CFPB) has officially published FDX’s application for recognition as a Standard-Setting Organization (SSO). This marks a critical step forward as FDX seeks formal recognition for its work in developing secure, consumer-permissioned data-sharing standards that align with the upcoming open banking regulations in the U.S.

The CFPB’s publication of the application allows for public review and feedback, inviting industry stakeholders to engage in the process and provide comments until October 16, 2024. You can access the full application here.

Looking Ahead: Leadership and Opportunities for Involvement 
The growth and success of FDX are the direct result of the collaboration between our 200+ members, including financial institutions, fintechs, data aggregators, and consumer groups. Each member brings a unique perspective, and together, we’re shaping the future of financial data sharing in a way that benefits the entire ecosystem.

As we prepare for the next phase of growth with Kevin Feltes stepping into his role as CEO in November, this is a pivotal time for both current and potential members to get involved. Whether you’ve been with FDX from the start or are considering joining us now, your voice matters. The work we do together in the coming months will help shape the standards that will guide the industry for years to come.

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.