Fiserv joins Financial Data Exchange as a sustaining board member

Freeman Staff

Feb. 26, 2019

BROOKFIELD — Fiserv, Inc. announced Monday it was named a sustaining board member of the Financial Data Exchange (FDX), a nonprofit group formed to establish information sharing and security standards for the financial sector.

Brookfield-based Fiserv has decades of data aggregation expertise and experience to the group and will have a seat on the board.

“In the financial services industry, security is nonnegotiable and standardization makes data more reliable and useful for providers as well as consumers,” said Don Cardinal, managing director, Financial Data Exchange, in a statement. “We look forward to the ongoing participation and contributions of Fiserv as we work to unify the financial sector to facilitate easy and more secure exchange of information.”

According to the announcement, FDX is working to create an industry wide commitment to enhance consumer controls of financial data through an application programming interface and technical standards that prioritize security, transparency and user experience. The group comprises leading financial institutions, data aggregators, fintechs and permissioned parties who, through development and implementation of the FDX API, are providing standardization that will make it easier and safer for consumers to use their financial data with third parties that help consumers manage their finances.