Using Industry Standards to Drive Open Finance Adoption in the U.S.
This presentation explores the pivotal role of Financial Data Exchange (FDX) industry standards in accelerating the adoption of Open Finance in the United States. FDX standards have emerged as a critical framework for secure and standardized data sharing between financial institutions, fintechs, and consumers and are critical to the payments industry. This session sheds light on the benefits and collaborative efforts needed to drive open adoption through FDX in the U.S. financial ecosystem. Speakers detail the FDX standards and how they are advantageous for enhanced data security, better customer experience, and promoting financial trust while exploring the collaborative efforts needed between industry stakeholders, regulators, and technology providers to ensure widespread adoption of FDX standards and drive the Open Finance movement forward.