Celero joins Financial Data Exchange, reinforcing commitment to standards-based data sharing

Celero has joined the non-profit organization, Financial Data Exchange (FDX), to contribute to their vision of the financial industry embracing a modern and secure API-based approach to user-permissioned data sharing.

As a member, Celero brings both expertise in enabling secure financial data-sharing through its open API integration platform, Celero Xchange™, and a commitment to driving open and secure industry standards on integration.

“In our role as a digital integrator, payments and banking technology provider to credit unions, Celero is entrusted with protecting and managing clients’ financial data. We have a responsibility to contribute to the advancement of managing data securely, which is why we joined FDX. We believe in their vision that standards-based APIs are the path to giving consumers more control, choice and security with their data,” says Rojin Nair, General Manager, Fintech Solutions.

The role of FDX is to promote the broad adoption of a secure, interoperable and international API standard for user-permissioned data sharing. FDX’s global membership includes financial institutions, fintechs, payment networks, consumer groups and financial industry groups. As a member, Celero will be engaged in FDX working groups and task forces to help define and drive adoption of the API FDX technical standard forward.

“We are excited that Celero has joined the FDX family. Celero’s experience will help FDX better understand and represent the needs of credit unions in the FDX API specification and adjoining standards,” said Don Cardinal, Managing Director of FDX.

Data security in an increasingly-complex world
Celero sees its membership in the FDX as critical in representing the voice of the Canadian credit union system and continuing to protect and serve consumers’ needs in data sharing, especially with increased complexity coming from open banking, payments modernization and cybercrime.

“Through our membership in FDX, we are looking forward to opportunities to participate with other financial services experts and our partners in driving data-sharing modernization and the broad adoption of the FDX API technical standard,” Nair adds.

As credit unions continue to embrace digital transformation to stay competitive, Celero will seek solutions and partnerships that provide their clients with a flexible and innovative digital ecosystem, backed by standards-based systems integration and a multi-layer secure environment.

For more information about Financial Data Exchange, visit https://financialdataexchange.org/

About Celero

Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.

Celero offers reliability and security through its world-class hosted banking system and data center operations. With key partnerships across the globe, Celero also brings the scale and extensive capabilities of multinational technology companies and the focused expertise of fintech startups. For more information, visit celero.ca.