News

by rebecca rebecca No Comments

FDATA North America Outlines “Essential Ingredients” for Industry-Led Open Banking Work Groups

FDATA North America Outlines “Essential Ingredients” for Industry-Led Open Banking Work Groups

Contact: Kerrie Rushton, (202) 365-6338, [email protected]

November 19, 2019, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced the release of a white paper that provides guidance to United States and Canadian standards-creation bodies and policymakers as they seek to establish industry-led working groups that would begin to design voluntary standards around open banking regimes in their respective countries.

“As a chapter of the global organization that has been responsible for informing the creation and design of open banking regimes around the world, we believe these are the ingredients for any well-designed standards group,” said FDATA North America Executive Director Steve Boms. “For the benefit of consumers and small businesses – the ultimate end users of the financial services ecosystem – and to maintain the competitiveness of their respective economies, it is essential that any standards bodies created in the United States and Canada have representation from all stakeholders in the financial services and financial technology sectors and focus their work on the key issues the private sector can address.”

The white paper addresses the scope, composition, and essential subcommittees for proposed industry-led working groups, and advises that government representatives must guide the groups “to encourage participants to look beyond commercial interests and keep at the center of the body’s work the consumer’s and small business’ best interests at all times.”

FDATA North America also outlines several of the questions these working groups must answer. These include queries about technology, permissioning, accountability and liability, legal and regulatory issues, governance, and oversight.

Image result for paperclip iconFDATA North America Essential Ingredients of an Open Banking Working Group

ABOUT FDATA NORTH AMERICA
FDATA was heavily involved in the UK Open Banking Working Group in 2015. In 2016, the working group’s output was published by Her Majesty’s Treasury as the Open Banking Standard. FDATA North America was founded in early 2018. Its members collectively provide tens of millions of consumers in Canada, the United States and Mexico with aggregation-based tools to better manage their finances. Existing FDATA North America members include: The Alliance for Innovative Regulation, Betterment, Envestnet Yodlee, Flinks, Intuit, Kabbage, Lendified, Mogo, Morningstsar, M Science, MX, Questrade, Quicken Loans, Petal, Plaid, The ID Co., TransUnion, Trustly, VoPay, Wealthica and others.

by rebecca rebecca No Comments

FDATA North America Submits Whitepaper to Finance Canada on Digital Identity

October 4, 2019, Washington, DC – Today, FDATA North America submitted a whitepaper to Canada’s Department of Finance on digital identity and the notion that it is not a necessary component of open banking.

This paper follows a request from the Department for an assessment of the various digital identity tools available in the market today, the state of digital identity in other markets, as well as an analysis of the digital identity tools currently in the market and their availability to provide for a digital identity framework in Canada.

Image result for paperclip iconFDATA North America Digital Identity White Paper

by rebecca rebecca No Comments

FDATA North America Submits Comments to US House Financial Technology Task Force on Alternative Data in Underwriting

July 24, 2019, Washington, DC – Today, FDATA North America submitted comments to the US House Financial Services Committee Task Force on Financial Technology in advance of its July 25th hearing, “Examining the Use of Alternative Data on Underwriting and Credit Scoring to Expand Access to Credit.”

Image result for paperclip iconFDATA Fintech Task Force Letter for the Record

To watch the hearing, click here.

by rebecca rebecca No Comments

FDATA North America Welcomes Five New Members

FDATA North America Welcomes Five New Members

Contact: Kerrie Rushton, (202) 365-6338, [email protected]

July 9, Washington, DC – The Financial Data and Technology Association (FDATA) of North America today announced it added five new members in June, bringing the association’s total membership to 22.

“The remarkable growth over the last month indicates support for Open Banking in the United States, Canada and Mexico is expanding rapidly,” said FDATA North America Executive Director Steve Boms. “Financial technology firms are eager to engage in Ottawa, Washington, D.C. and Mexico City in an effort to create a modern and safe system that puts consumers in charge of their data, and their financial lives. As Open Banking increasingly becomes a global phenomenon, we hope FDATA’s growing presence will spur policymakers in North America to act with the same haste.”

The following organizations joined FDATA North America in the last month:

  • Axcess. Based in Ontario and Victoria, Australia, Axcess provides solutions in the product management area, including loans and investments, to financial institutions.
  • Mogo. Serving more than 800,000 consumers throughout Canada, Mogo leverages technology and design to help users manage their finances and improve their financial health.
  • The ID Co. Based in Edinburgh, Scotland with operations in Canada, The ID Co. works with banks, lenders, innovators and nonprofits to help businesses use their financial data to expand.
  • TransUnion. With operations throughout North America, TransUnion uses credit data to provides the tools and insight that consumers need to make informed financial decisions.
  • Wealthica. Based in Montreal, Wealthica works with more than 60 Canadian financial institutions to give consumers an unbiased view of their investments.

“In the United Kingdom, nearly 10,000 consumers a day are signing up to access the Open Banking network,” said FDATA Global Chair Gavin Littlejohn. “Our member companies were an important part of the movement that is giving consumers more control over their financial data in Europe. To ensure their constituents have the same opportunities, North American policymakers must move quickly but deliberately. Axcess, Mogo, The ID Co., TransUnion and Wealthica, along with FDATA North America’s other member companies, provide some of the most innovative products on the market today. We look forward to a landscape where more consumers and businesses can capitalize on these tools.”

Existing FDATA North America members include: Cardlytics, Envestnet Yodlee, Flinks, Intuit, Kabbage, Lendified, Moven, Morningstsar, MX, Onist, Questrade, Quicken Loans, Petal and Plaid, among others.

FDATA North America recently published white papers for Canadian and U.S. policymakers that outline the benefits of Open Banking and provide policy and oversight recommendations for lawmakers and regulators. “Opportunities in Open Banking” for the United States is here. The Canadian paper is here.

ABOUT FDATA NORTH AMERICA
FDATA was heavily involved in the UK Open Banking Working Group in 2015. In 2016, the working group’s output was published by Her Majesty’s Treasury as the Open Banking Standard. FDATA North America was founded in early 2018. Its members collectively provide tens of millions of consumers in Canada, the United States and Mexico with aggregation-based tools to better manage their finances.

by rebecca rebecca No Comments

FDATA North America Highlights Importance of Consumer Data Ownership Before U.S. Congress

In advance of the first hearing of the United States House of Representatives’ Task Force on Financial Technology, titled “Overseeing the Fintech Revolution: Domestic and International Perspectives on Fintech Regulation,” the Financial Data and Technology Association (FDATA) of North America submitted a Letter for the Record on the importance of adopting a modernized financial regime, similar to other countries around the world, that provides consumers with the legal right to their financial data in a well-managed, safe and secure ecosystem.

To read FDATA North America’s Letter for the Record, click here.

For more information on the Fintech Task Force hearing taking place on June 25, 2019, click here.

by No Comments

NEXT STAGE OF EU DIRECTIVE “WILL CREATE WIDESPREAD CUSTOMER DISRUPTION AFFECTING MANY MILLIONS OF CONSUMERS AND BUSINESSES THROUGHOUT EUROPE”, SAY FINTECH BODIES

Fintech bodies call for National Regulators to work with industry to prioritise customer needs ahead of other regulatory factors

The Financial Data and Technology Association (FDATA Europe), in association with the European Third Party Providers Association (ETTPA), has highlighted a material risk to individual and business consumers in the next phase of the implementation of the Regulatory and Technical Standards (RTS) of the EU’s second Payment Services Directive (PSD2).

(Download here)

ETPPA and FDATA Europe, whilst fully supportive of PSD2, have identified a series of unintended consequences of the RTS, which will cause widespread disruption to consumers and businesses which use the services of many fintech applications. Notable examples include the impact on the many millions of businesses that use SME accountancy services such as Xero, Quickbooks and FreeAgent, unless steps are now taken.

The simultaneous attempt to encourage innovation and to introduce new payment security measures is at the root of these unintended consequences, including the deterioration of existing consumer services, the introduction of security risks to banks, interruption to retail card and bank transfer payments, and significant disruption to Fintech firms who use open finance in their business models.

Whilst the RTS has had many intricate technical challenges, with lobbying and counter lobbying between banks and fintech firms, the customer disruption issues are becoming increasingly clear, and all sides now need to work together to manage these interlocking challenges, reduce the disruption and buy some time to work on resolving the outstanding issues.

The key issues are summarised as follows

  • Strong Customer Authentication, designed to improve the security between a bank and its customer, will unintentionally block access to non payments data, such as savings accounts and loan accounts, which are in very wide use
  • The RTS provides no period of transition during which a TPP could seek to ask its customers to rejoin on the new technology. There needs to be a twelve month transition period after the banks have delivered a high quality API or Adjusted Interface to allow customers to migrate
  • It is already crystal clear that the development of the technologies is not nearly mature enough at this stage, both in functionality and resilience. It is highly likely that on the current time table, the vast majority of banks will fail to deliver a suitable API and run out of time to then deliver the Adjusted Interface. If they simultaneously then introduce the new security measures, all access to account channels used by Fintech firms will be blocked.

FDATA and the ETTPA have suggested a new order which prioritises the needs of customers through a series of technical and practical measures.

Commenting, FDATA’s Chairman Gavin Littlejohn said:

“Open finance is the biggest and most important innovation in the financial services sector since the dawn of the internet. Customers have grown accustomed to innovative market and payment solutions that improve convenience and value. PSD2 is an important first step in creating a better framework of customer rights and protections to protect this new market.

“We have made a series of practical suggestions and we are confident both in their ability to reduce the risk, and in the good will of the EC and EBA to encourage markets to develop solutions.

“As it stands the banks, fintech firms and national regulators need to orchestrate a hierarchy of needs which puts customers first. A practical first step would be to delay any new implementation of Strong Customer Authentication which could block the traditional technology from functioning as it currently does, until such a time as the key issues are properly managed. Creating a ‘big bang’ approach to implementation, regardless of the connected circumstances, is simply creating an unnecessary cliff edge, which is easily avoided by this simple measure.

Commenting, ETPPA’s Chairman Arturo Gonzalez MacDowell said:

“During such a fast pace of change unintended consequences are always a potential difficulty.

“This is not about allocating blame – everyone is facing the right way and trying to do the right thing. But we do need to take action, and there is very little time to reduce the risk present in this next phase of implementation. We need real leadership now to navigate a path to avoid the regulations accidentally disrupting the markets they were designed to nurture.”

ENDS

NOTES TO EDITORS

  1. The Financial Data and Technology Association (FDATA) was established in Europe to advocate for Open Banking in 2013, during the negotiations to add account aggregation to PSD2. and then formally incorporated in 2014. It is a member organisation, is not-for-profit and has a charter to develop open secure market access to innovation across all financial verticals, including payments and payments data, but also loans, mortgages, savings, investments, pensions and insurance. Customer access to these financial verticals via Third Party Providers is described collectively as Open Finance.
  2. The European Third Party Providers Association (ETPPA) is the European trade association of bank-independent PSD2 TPPs. ETPPA is an international not-for-profit association (IVZW/AISBL) organised under Belgian law. ETPPA formalises the former Future of European Fintech (FoEF) coalition, which was created ad-hoc at the beginning of 2017 to represent the interests of TPPs in the negotiations around the PSD2 RTS on SCA & CSC. ETPPA represents the bank-independent TPP interests in the implementation and evolution of PSD2 and RTS vis-a-vis the national and EU authorities and other stakeholders.
  3. FDATA and the ETTPA have jointly authored a paper – The Unintended Consequences of PSD2 RTS – which has been presented to the regulatory authorities in the EU and the UK.
  4. Media – for more information contact Andy Maciver (+44 7855 261 244, [email protected])
by No Comments

NEXT STAGE OF EU DIRECTIVE “WILL CREATE WIDESPREAD CUSTOMER DISRUPTION AFFECTING MANY MILLIONS OF CONSUMERS AND BUSINESSES THROUGHOUT EUROPE”, SAY FINTECH BODIES

Fintech bodies call for National Regulators to work with industry to prioritise customer needs ahead of other regulatory factors

The Financial Data and Technology Association (FDATA Europe), in association with the European Third Party Providers Association (ETTPA), has highlighted a material risk to individual and business consumers in the next phase of the implementation of the Regulatory and Technical Standards (RTS) of the EU’s second Payment Services Directive (PSD2).

(Download here)

ETPPA and FDATA Europe, whilst fully supportive of PSD2, have identified a series of unintended consequences of the RTS, which will cause widespread disruption to consumers and businesses which use the services of many fintech applications. Notable examples include the impact on the many millions of businesses that use SME accountancy services such as Xero, Quickbooks and FreeAgent, unless steps are now taken.

The simultaneous attempt to encourage innovation and to introduce new payment security measures is at the root of these unintended consequences, including the deterioration of existing consumer services, the introduction of security risks to banks, interruption to retail card and bank transfer payments, and significant disruption to Fintech firms who use open finance in their business models.

Whilst the RTS has had many intricate technical challenges, with lobbying and counter lobbying between banks and fintech firms, the customer disruption issues are becoming increasingly clear, and all sides now need to work together to manage these interlocking challenges, reduce the disruption and buy some time to work on resolving the outstanding issues.

The key issues are summarised as follows

  • Strong Customer Authentication, designed to improve the security between a bank and its customer, will unintentionally block access to non payments data, such as savings accounts and loan accounts, which are in very wide use
  • The RTS provides no period of transition during which a TPP could seek to ask its customers to rejoin on the new technology. There needs to be a twelve month transition period after the banks have delivered a high quality API or Adjusted Interface to allow customers to migrate
  • It is already crystal clear that the development of the technologies is not nearly mature enough at this stage, both in functionality and resilience. It is highly likely that on the current time table, the vast majority of banks will fail to deliver a suitable API and run out of time to then deliver the Adjusted Interface. If they simultaneously then introduce the new security measures, all access to account channels used by Fintech firms will be blocked.

FDATA and the ETTPA have suggested a new order which prioritises the needs of customers through a series of technical and practical measures.

Commenting, FDATA’s Chairman Gavin Littlejohn said:

“Open finance is the biggest and most important innovation in the financial services sector since the dawn of the internet. Customers have grown accustomed to innovative market and payment solutions that improve convenience and value. PSD2 is an important first step in creating a better framework of customer rights and protections to protect this new market.

“We have made a series of practical suggestions and we are confident both in their ability to reduce the risk, and in the good will of the EC and EBA to encourage markets to develop solutions.

“As it stands the banks, fintech firms and national regulators need to orchestrate a hierarchy of needs which puts customers first. A practical first step would be to delay any new implementation of Strong Customer Authentication which could block the traditional technology from functioning as it currently does, until such a time as the key issues are properly managed. Creating a ‘big bang’ approach to implementation, regardless of the connected circumstances, is simply creating an unnecessary cliff edge, which is easily avoided by this simple measure.

Commenting, ETPPA’s Chairman Arturo Gonzalez MacDowell said:

“During such a fast pace of change unintended consequences are always a potential difficulty.

“This is not about allocating blame – everyone is facing the right way and trying to do the right thing. But we do need to take action, and there is very little time to reduce the risk present in this next phase of implementation. We need real leadership now to navigate a path to avoid the regulations accidentally disrupting the markets they were designed to nurture.”

ENDS

NOTES TO EDITORS

  1. The Financial Data and Technology Association (FDATA) was established in Europe to advocate for Open Banking in 2013, during the negotiations to add account aggregation to PSD2. and then formally incorporated in 2014. It is a member organisation, is not-for-profit and has a charter to develop open secure market access to innovation across all financial verticals, including payments and payments data, but also loans, mortgages, savings, investments, pensions and insurance. Customer access to these financial verticals via Third Party Providers is described collectively as Open Finance.
  2. The European Third Party Providers Association (ETPPA) is the European trade association of bank-independent PSD2 TPPs. ETPPA is an international not-for-profit association (IVZW/AISBL) organised under Belgian law. ETPPA formalises the former Future of European Fintech (FoEF) coalition, which was created ad-hoc at the beginning of 2017 to represent the interests of TPPs in the negotiations around the PSD2 RTS on SCA & CSC. ETPPA represents the bank-independent TPP interests in the implementation and evolution of PSD2 and RTS vis-a-vis the national and EU authorities and other stakeholders.
  3. FDATA and the ETTPA have jointly authored a paper – The Unintended Consequences of PSD2 RTS – which has been presented to the regulatory authorities in the EU and the UK.
  4. Media – for more information contact Andy Maciver (+44 7855 261 244, [email protected])
by rebecca rebecca No Comments

Financial Data and Technology Association and OpenID Foundation in Global Agreement

Not-for-profits to campaign jointly on open finance initiatives.

The OpenID Foundation (OIDF), the international standardization organization which maintains a standard known as the Financial-grade API (FAPI), and the Financial Data and Technology Association (FDATA Global), the global trade association for companies working to promote ‘open finance’ and best practice financial data sharing, have signed a liaison agreement to enable them to work jointly across the world.

Under the agreement, FDATA Global, with chapters in Europe, North America and Australia/New Zealand, will lead policy efforts to implement open banking frameworks across the globe while OIDF will focus on the technology behind a digital identity solution. The agreement will:

  1. Provide a mechanism for the parties to work together on mutually approved white papers, press releases, activities, presentations and other communications;
  2. Allow participation of each party’s staff and members in the other party’s meetings, as mutually agreed by both parties;
  3. Provide a line of communications in order for the parties to communicate (without obligation and only to the extent each party chooses) about new work under consideration and about upcoming meetings;
  4. Support their common goals, including where appropriate and mutually agreed, to promote common standards across markets, and to collaborate on the development and implementation of certain standards and publications of common interest; and
  5. Avoid market confusion regarding their respective organizations and activities.

FDATA Global works with governments, regulatory authorities, and the financial services industries to open up the financial sector all over the world to the benefits of financial data and technology, including advocating for the adoption of open banking frameworks and open banking standards.

The OIDF is an international standards development organization of leading identity and security architects, with a broad range of communities and companies developing open standards that enable firms and customers to safely interact in digital channels. The FAPI working group of OIDF has collaborated to produce the FAPI security profile, which is an integrated set of schemas, security and privacy recommendations and protocols which enables common connections that enable API to easily connect and for financial data to be safely shared and privacy protected.

As Open Banking and Open Finance initiatives develop across the world, the FAPI profile will be the starting point for markets seeking to reduce complexity, risk and engineering costs, making it easier for firms to connect and test their APIs.

Commenting, FDATA Global’s Chairman Gavin Littlejohn said:
“Open finance is the single biggest movement in financial services globally. It will change the world, and it will change the lives of young and old, rich and poor.

“The core components of delivering this change are the enshrining of the customer’s right to share their data, a regulatory environment that supports this right and an implementation capability that transitions the market access to high quality secure APIs.

“In the UK API initiative, the introduction of the FAPI security profile and FAPI conformance testing suites ensured that both sides of the API connection conformed to the profile. This had a transformational impact on the implementation experience, making connections easier between banks and fintech firms, making it easier for regulators to understand that security standards were being met, and greatly reduced the complex engineering and maintenance costs across the industry.

“As the Australian, Japanese, US and some of the European groups are developing their API initiatives, it is great to see the FAPI Security Profile discussed in the standardization agenda. FDATA Global is happy to be able to support the brilliant work of the OIDF and recommend that the FAPI working group output become the starting point of that conversation and a cornerstone of the implementation experience.”

Don Thibeau, Executive Director of the OpenID Foundation, said:
“The development of open global standards like FAPI require the painstaking commitment and contributions of a wide variety of companies, communities and individual developers. This is demonstrated in the ongoing work of the OpenID Foundation’s FAPI Work Group and the leadership of Nomura Research, Microsoft, Intuit and many others. Open standards are only as valuable as their adoption and adoption is driven by trust.  The FAPI Self Certification Test Suite enables trust by helping assure interoperability across computing platforms and international regulatory regimes.

“Our collaboration with FDATA and others demonstrates the importance of the ongoing improvement of trusted standards and certification tests needed by a diverse and dynamic set of financial services players. Open Standards like FAPI enable the easy to use, secure and privacy protecting solutions for clients, consumers and consumers worldwide.”

NOTES TO EDITORS

  1. FDATA Global is a not-for-profit global association for financial services companies operating in fintech. Our members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, loans and investments. We seek to work with government, regulatory authorities and the financial services industry in our mission to open up the financial sector all over the world to the benefits of financial data and technology. We have chapters in Europe, North America and Australia/New Zealand, with other territories being developed. www.fdata.global
  2. The OpenID Foundation promotes, protects and nurtures the OpenID community and technologies. It is a non-profit international standardization organization of individuals and companies committed to enabling, promoting and protecting OpenID technologies. Formed in June 2007, the foundation serves as a public trust organization representing the open community of developers, vendors, and users. OIDF assists the community by providing needed infrastructure and help in promoting and supporting expanded adoption of OpenID. This entails managing intellectual property and brand marks as well as fostering viral growth and global participation in the proliferation of OpenID. www.openid.net
  3. Images of Gavin Littlejohn and Don Thibeau can be downloaded via the links.
  4. For more information on FDATA contact Andy Maciver, Message Matters, +44 (0)7855 261 244, [email protected]
  5. For more information on OIDF contact Don Thibeau [email protected] Michelle Parkes at [email protected]
by No Comments

FINANCIAL DATA AND TECHNOLOGY ASSOCIATION AND OPEN ID FOUNDATION IN GLOBAL AGREEMENT

Not-for-profits to campaign jointly on open finance initiatives

The OpenID Foundation (OIDF), the international standardisation organisation which maintains a standard known as the Financial-grade API (FAPI), and the Financial Data and Technology Association (FDATA Global), the global trade association for companies working to promote ‘open finance’ and best practise financial data sharing, have signed a liaison agreement to enable them to work jointly across the world.

Under the agreement, FDATA Global, with chapters in Europe, North America and Australia/New Zealand, will lead policy efforts to implement open banking frameworks across the globe while OIDF will focus on the technology behind a digital identity solution. The agreement will:

  1. Provide a mechanism for the parties to work together on mutually approved white papers, press releases, activities, presentations and other communications;
  2. Allow participation of each party’s staff and members in the other party’s meetings, as mutually agreed by both parties;
  3. Provide a line of communications in order for the parties to communicate (without obligation and only to the extent each party chooses) about new work under consideration and about upcoming meetings;
  4. Support their common goals, including where appropriate and mutually agreed, to promote common standards across markets, and to collaborate on the development and implementation of certain standards and publications of common interest; and
  5. Avoid market confusion regarding their respective organizations and activities.

FDATA Global works with governments, regulatory authorities, and the financial services industries to open up the financial sector all over the world to the benefits of financial data and technology, including advocating for the adoption of open banking frameworks and open banking standards.

The OIDF is an international standards development organization of leading identity and security architects, with a broad range of communities and companies developing open standards that enable firms and customers to safely interact in digital channels. The FAPI working group of OIDF has collaborated to produce the FAPI security profile, which is an integrated set of schemas, security and privacy recommendations and protocols which enables common connections that enable API to easily connect and for financial data to be safely shared and privacy protected.

As Open Banking and Open Finance initiatives develop across the world, the FAPI profile will be the starting point for markets seeking to reduce complexity, risk and engineering costs, making it easier for firms to connect and test their APIs.

Commenting, FDATA Global’s Chairman Gavin Littlejohn said:

“Open finance is the single biggest movement in financial services globally. It will change the world, and it will change the lives of young and old, rich and poor.

“The core components of delivering this change are the enshrining of the customer’s right to share their data, a regulatory environment that supports this right and an implementation capability that transitions the market access to high quality secure APIs.

“In the UK API initiative, the introduction of the FAPI security profile and FAPI conformance testing suites ensured that both sides of the API connection conformed to the profile. This had a transformational impact on the implementation experience, making connections easier between banks and fintech firms, making it easier for regulators to understand that security standards were being met, and greatly reduced the complex engineering and maintenance costs across the industry.

“As the Australian, Japanese, US and some of the European groups are developing their API initiatives, it is great to see the FAPI Security Profile discussed in the standardisation agenda. FDATA Global is happy to be able to support the brilliant work of the OIDF and recommend that the FAPI working group output become the starting point of that conversation and a cornerstone of the implementation experience.”

Don Thibeau, Executive Director of the OpenID Foundation, said:

“The development of open global standards like FAPI require the painstaking commitment and contributions of a wide variety of companies, communities and individual developers. This is demonstrated in the ongoing work of the OpenID Foundation’s FAPI Work Group and the leadership of Nomura Research, Microsoft, Intuit and many others. Open standards are only as valuable as their adoption and adoption is driven by trust.  The FAPI Self Certification Test Suite enables trust by helping assure interoperability across computing platforms and international regulatory regimes.

“Our collaboration with FDATA and others demonstrates the importance of the ongoing improvement of trusted standards and certification tests needed by a diverse and dynamic set of financial services players. Open Standards like FAPI enable the easy to use, secure and privacy protecting solutions for clients, consumers and consumers worldwide.”

ENDS

NOTES TO EDITORS

  1. FDATA Global is a not-for-profit global association for financial services companies operating in fintech. Our members provide innovative financial applications and services to empower customers to make better decisions and take fuller control of their financial lives across all their accounts, credit cards, loans and investments. We seek to work with government, regulatory authorities and the financial services industry in our mission to open up the financial sector all over the world to the benefits of financial data and technology. We have chapters in Europe, North America and Australia/New Zealand, with other territories being developed. www.fdata.global
  2. The OpenID Foundation promotes, protects and nurtures the OpenID community and technologies. It is a non-profit international standardization organization of individuals and companies committed to enabling, promoting and protecting OpenID technologies. Formed in June 2007, the foundation serves as a public trust organization representing the open community of developers, vendors, and users. OIDF assists the community by providing needed infrastructure and help in promoting and supporting expanded adoption of OpenID. This entails managing intellectual property and brand marks as well as fostering viral growth and global participation in the proliferation of OpenID. www.openid.net
  3. Images of Gavin Littlejohn and Don Thibeau can be downloaded via the links.
  4. For more information on FDATA contact Andy Maciver, Message Matters, +44 (0)7855 261 244, [email protected]
  5. For more information on OIDF contact Don Thibeau at [email protected] or Michelle Parkes at [email protected]

Top