Financial Data Exchange (FDX) Releases FDX API 5.1

Financial Data Exchange continues to promote greater interoperability and adoption with updates to open finance API
Posted on 6/3/2022

RESTON VA – June 3, 2022 - The Financial Data Exchange (FDX) has announced its Spring release of FDX API 5.1. The updated version of the FDX API merges the main, Core, Tax, and Money Movement introductions into one document for ease of use and improved formatting.

FDX releases originate with the work of FDX’s global array of membership across more than 30 different technical working groups and task forces to identify and develop enhancements and updates to FDX standards to meet market needs. 

“FDX’s Spring release is another great milestone for the FDX ecosystem as we continue to promote greater interoperability and adoption,” said FDX Managing Director Don Cardinal. “Each release marks significant growth made possible by the contributions of some of the top industry players in open finance and open banking” added Cardinal.


Some new components of the FDX API 5.1 include:

  • Event Notifications Framework – A mechanism/framework created to communicate between entities when a customer or entity event occurs. The framework notifies subscribed entities of the occurrence of the notification that will trigger further actions if needed (i.e., customer has new transactions, FI has planned outage, suspicious activity is detected, etc.).
  • Enhancements for Crypto – The existing data model has updated to address treatment of accounts, holdings and transactions for cryptocurrencies and other digital assets as held by retail consumers. New values were added to represent cryptocurrency transactions, especially those with tax implications.
  • Consent API: Revocation – A new addition to the Consent API that allows end users to revoke a consent that has been previously granted. The ability to revoke consent is a critical component of the consent lifecycle. If a data recipient and/or data provider allows end users to grant consent, it must also provide a way to revoke it. A standardized API supporting this flow will ensure FDX members can easily introduce this functionality to their end users.
  • Asynchronous Statements – Statements retrieved via the FDX API might require additional processing that cannot be completed synchronously. For example, redacting sensitive data. Asynchronous Statements modifies the FDX API such that statements can be requested and generated asynchronously.
  • Consent Event Notifications – Consent Management enables End Users to view and revoke consent at multiple entities, including Data Providers, Data Access Platforms, and Data Recipients. As consent actions occur, three parties (DP, DR, DAP) need to stay in sync to ensure two outcomes:
    1. End User Transparency: An end user’s consent must be displayed accurately across all parties in the user experience (e.g., consent edit at DP must reflect at DAP dashboard and DR’s app; a revocation at a DAP must reflect at a DP’s consent management dashboard).
    2. Data Minimization: End User data can only be shared with consent, so when changes are made all parties must be notified such that data retrieval promptly reflects consumers choices.

FDX API 5.1 is free to access with registration.


About Financial Data Exchange
Financial Data Exchange, LLC is a non-profit organization operating in the US and Canada that is dedicated to unifying the financial industry around a common, interoperable, royalty-free standard for secure and convenient consumer and business access to their financial data. FDX empowers users through its commitment to the development, growth, and industry-wide adoption of the FDX API, according to the principles of control, access, transparency, traceability, and security. Membership is open to financial institutions, fintech companies, financial data aggregators, consumer advocacy groups, payment networks and other industry stakeholders. FDX is an independent subsidiary of FS-ISAC. For more information and to join, visit