MicroBilt announced today that it has joined the Financial Data Exchange (FDX), a non-profit organization with a common, interoperable, royalty-free standard for secure financial data access. FDX members span multiple financial institutions, data aggregators, and fintechs. Together they are working toward common technical standards aimed at making it easier for consumers to use their financial data with third parties.
MicroBilt’s, Instant Bank Verification provides data aggregation and account verification which enables lenders to qualify potential borrowers based on their banking history in real time on a fast and secure platform.
“Joining FDX gives us a chance to participate in the much-needed, industry-wide dialogue on helping consumers use and manage their financial data,” said Walt Wojciechowski, CEO of MicroBilt. “We look forward to working with other financial technology leaders to develop and grow industry acceptance of unified standards for data security and access.”
Don Cardinal, Managing Director, FDX, added, “We’re happy to have MicroBilt as part of our consortium. We’re looking forward to leveraging their experience in the alternative credit data market in achieving our mission to unify the industry around FDX.”