Many firms in the financial services industry have been on a path to transforming from closed systems to open, API-driven platforms that can integrate with fintech partners and third-party providers while maintaining security and compliance standards. FDX has successfully delivered a robust API standard as a designated “standard-setting” body with broad industry support. The security model presents a two-part framework using two approaches: a Green Profile and a Blue Profile. The Blue Profile shown represents the most rigorous method for securing APIs connected to highly sensitive data.
This executive brief establishes a path forward through the implementation of the FDX API v.6.4.0 standard. It is based on an analysis of the newly published update to the standard for financial-grade API implementation, review of current related legal activity, and previous Datos Insights publications.
Clients of Datos Insights’ Cybersecurity service can download this report.
This report mentions the Financial Data Exchange (FDX) and the Financial Services Information Sharing and Analysis Organization (FS-ISAC).
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