Ninth Wave Upgrades Data Connectivity Platform with Support for FDX API Version 4.5
Summary
NEW YORK--(BUSINESS WIRE)--Ninth Wave, the leading enabler of secure data connectivity between financial institutions and third-party applications including aggregators, fintechs, accounting solutions, tax prep software, and other consumer and business solutions, today announced that its flagship Ninth Wave Platform now supports Version 4.5 of the Financial Data Exchange (FDX) API. 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. The recently released FDX API 4.5 includes new features that improve account number security via optional use of tokenized data for payments. “While an increasing number of financial services firms rallies around the Financial Data Exchange consortium – of which Ninth Wave is a proud and active member – the OFX protocol continues to be used across the board with over 7,000 institutions deploying worldwide,” Ninth Wave Chief Technology Officer Jack Cassaro. “With often diverging migration paths across the financial services ecosystem, we built the Ninth Wave Platform to support the full range of data connectivity options, from legacy OFX versions, to OFX 2.2 that supports tokenization, right through to the newest FDX API Version 4.5.” To learn more about the Ninth Wave Platform and how retail and commercial banks, credit unions, wealth and investment managers, and other financial services firms can leverage it, please visit ninth-wave.com.