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Transformativ IP

Video

Open Finance, FDX Standards

  • The financial data landscape is quickly shifting, expanding the attack surface for IT professionals.
  • Zero Trust is moving from shared secrets (screen scraping) to managed permissions via tokenized FDX APIs.
  • FDX is a governance framework and security philosophy protecting over 114 million connected accounts.
  • The enforcement layer relies on FAPI 2.0 and compliance to prevent tokens from being hijacked.
  • Immediate IT priorities include eliminating screen scraping and implementing pre-transaction fraud controls.

114 million North Americans use FDX tokenized APIs

  • This is a major open finance security upgrade replacing insecure screen scraping. 
  • FDX's tokenization eliminates shared passwords and credential theft by managing permissions for scoped, revocable access, often tied to biometrics. 
  • The FDX framework uses FAPI 2.0 protocols and encryption based on five principles: control, access, transparency, traceability, and security.

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