Ninth Wave Extends Open Finance Platform Capabilities Staying Ahead of CFPB Rules
Advanced support to FDX 6.0 version delivers more privacy-compliant features and enhanced connectivity
NEW YORK–(BUSINESS WIRE)–Ninth Wave is excited to announce key enhancements to its platform focused on fintech application registration and management, customer access management and entitlements, and support for Financial Data Exchange (FDX) 6.0.
These advancements by Ninth Wave will position financial institutions (FIs) to more easily enable an FDX-compliant open finance solution in the marketplace and deliver exceptional user experiences to their end-customers.
Ninth Wave’s solution ensures that FIs are in immediate compliance with the expected personal financial data rights rule from the Consumer Financial Protection Bureau (CFPB). Through a single point of integration with the FI, Ninth Wave solves for the expected CFPB rules, including standardized APIs consumable by third-parties, complete customer data consent and revocation workflows, customer and third-party application identification, and availability of a developer interface.
Enhanced features of Ninth Wave’s Fintech Registry and Access Management within the platform ensure that the FI is always in control over which downstream fintech applications have access to the FI’s set of open finance APIs. Ninth Wave also ensures customers have control over how their data is shared, offering end-users permission-based access and complete revocation ability for any fintech data connection.
Doug Bacon, Senior Strategic Sales Director at Ninth Wave reflected on the customer impact of Ninth Wave’s innovation: “Our clients trust us to manage their critical data connections and they value the turnkey features of the platform as a welcome alternative to custom development projects that have long burdened the industry. Ninth Wave has been a pioneer in data connectivity and continues to invest in future-proofing our customers’ data strategy in this continuously evolving data sharing environment.”
With these additional platform enhancements, Ninth Wave further solidifies itself as a trusted advisor to FIs in helping throughout their open finance journey and ensuring compliance with the pending CFPB rules.
Nick Thomas, FDX Co-Founder, commented: “Ninth Wave’s infrastructure helps financial institutions easily achieve the reliable, secure, and privacy-compliant vision we created FDX to achieve and that CFPB 1033 mandates.”
Ninth Wave is also excited to announce its advancement to the latest FDX version, FDX 6.0. As a strong advocate of FDX as the leading interoperable standard for financial data exchange in the US, Ninth Wave can best position its clients and their open finance APIs in the broad fintech ecosystem.
“We are the only enterprise solution delivering unparalleled connectivity through both FDX industry-standard open finance APIs and turnkey integrations into business applications, future-proofing connectivity for our clients and their account holders.” said George Anderson, CEO & Founder of Ninth Wave.
Ninth Wave’s open finance platform provides configurable controls, visibility, and insights into all data-sharing and data-acquisition connections between customers and fintechs and continues to deliver enhanced features designed from a risk and compliance perspective to anticipate and meet the evolving needs of the industry.
About Ninth Wave
Based in New York City, Ninth Wave is a SaaS permission-based platform that delivers secure data connectivity to financial institutions, offering configurable controls, visibility, and insights into all connections between aggregators, third-party apps, and internal applications. Ninth Wave empowers financial institutions and their customers with access and oversight to their connected apps through a single point of direct integration, providing unparalleled connectivity and universal compatibility, and enabling secure data exchange in a holistic and scalable open finance ecosystem. To learn more, visit ninth-wave.com.
Contacts
Jordana Wachtel, Director of Marketing, Ninth Wave
646.940.9001
[email protected]
