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
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.