The TxPUSH SIG (www.txpush.org) is a non-profit, non-stock 501(c)(6) corporation created to develop and promote Financial Institution data delivery standards based upon TxPUSH technology.
Dedicated to improving the way Financial Institutions, Financial Event Hubs, and Fintech Application Developers connect, the TxPUSH SIG seeks to align shared interests with the banking industry to improve the security model of the existing account aggregation ecosystem while promoting an industry standard for the real-time delivery of financial transaction data to account holders to the apps they choose.
Financial institutions, Fintech Developers, and Financial Aggregators are invited to register their interest in participating in this initiative
The mission of the TxPUSH SIG includes the following:
- Democratize Financial Event Data – We envision an ecosystem where account and transaction data can be “pushed” to Subscriber apps directly or via Financial Event Hubs, as soon as transactions or account changes are processed Financial Institutions.
- Improve Financial Application Security – Financial Account Holders should not have to reveal their account login credentials to third parties to retrieve financial data into the applications they choose. We seek to work with the Banking Industry to improve the security model to access financial data.
- Unlock Financial Application Innovation – We will specify standards for publishers, hubs, and subscribers of financial event data to unlock innovation in the financial industry and enable new, improved user experiences and enhanced financial context with their own data.
- Develop a Global Financial Technology Standard – We will develop and Promote a Global Technology Specification and Brand. Membership in the SIG will be required to use and/or contribute to the specifications.
- Create a Royalty-free Specification – We intend to establish a royalty-free specification by leveraging existing open standards, where possible, and the intellectual property of our member companies.
- Build on modern industry standards – We intend to extend existing modern standards to enable and use existing infrastructure building blocks wherever possible, such as OFX, JSON, OAUTH 2.0, HTTP, Webhooks, and TSL to minimize both cost and time to implement for all players in the ecosystem.
- Develop a Qualification Program – Only through creating a single source for qualification against the standard will the standard be implemented in a way that ensures interoperability. Products must be approved by the SIG through the Qualification Program prior to being marketed as a txpush compliant product.
The TxPUSH Specification is currently under development by member companies.