Through broad industry collaboration, Credit Union Financial Exchange is an open standard protocol for client-server systems and cloud-based APIs for exchanging financial data, thus enabling credit unions to accelerate their digital transformation journey while providing the best user experience to their members.
CUFX has been the dominant API for credit unions to provide data to financial applications since 2012. It is actively deployed in over hundreds of credit unions and financial technology service providers.
CUFX was created by and continues to be a community of thought and technology leaders to advance a financial services ecosystem standard that reduces technical complexity, drives down costs, improves and speed to market.
The CUFX standards current support these product/service implementations:
- Verifiable credentials for digital identities
- New member account opening
- Loan origination
- Account data integration support
- Big data analytics
- Foundation for application data models
- Mobile payment processing
- Enterprise Service Bus & gateway integrations
- Personal and business finance management applications