KENNESAW, Ga., Feb. 13, 2020 /PRNewswire/ — 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.”
MicroBilt is a pioneer in alternative credit data, consumer data and risk management for over 40 years as a Consumer Reporting Company. The company provides a broad array of traditional and proprietary alternative credit data services including Instant Bank Verification that returns banking information in real time, online. For more information visit www.microbilt.com & www.ibvnow.com.
About the Financial Data Exchange
Financial Data Exchange, LLC (FDX) is a non-profit organization 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 consumers 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, consumer advocacy groups, and other industry participants. FDX is an independent subsidiary of FS-ISAC. For more information and to join, visit www.financialdataexchange.org