As banks, aggregators, fintechs and other financial services firms continue their migration to tokenized authentication methods in permissioned data sharing, Ninth Wave is committed to providing its clients with support for cutting-edge industry standards, as well as other widely used legacy protocols. As part of this promise, the Ninth Wave Platform processes all versions of Open Financial Exchange (OFX), FDX, and other custom APIs, ensuring customers remain responsive and agile no matter which standard a third party may use. Additionally, Ninth Wave seamlessly bridges the connectivity gap for companies that have migrated to FDX, but still need to support products that require connectivity via OFX.
The recently released FDX API 4.5 includes new features that improve account number security via optional use of tokenized data for payments. These features also improve data quality for use cases such as lending, through expanded account holder information fields.
About Ninth Wave
Ninth Wave delivers secure, seamless, and standardized data connectivity to fintechs and financial institutions of all sizes, through a single point of direct integration to a universal suite of open finance APIs. With configurable controls, visibility, and insights into all data sharing and data acquisition connections between aggregators, third-party apps, and internal applications, Ninth Wave empowers financial institutions and their customers with access and oversight to their connected apps, enabling secure data exchange in a holistic and scalable open finance ecosystem. Offering solutions for retail and commercial banks, wealth managers, credit card issuers, tax providers, and more, Ninth Wave provides unparalleled connectivity and universal compatibility to complex information systems, unlocking innovation, potential, and performance for your data. Contact us to learn more about Ninth Wave’s secure data connectivity features. Empowering open finance. At scale, at last.