DI and Microsoft Partner to Foster OFX as Standard

REDMOND, Wash. and CALABASAS, Calif. – Open Financial Exchange gets closer all the time to becoming the standard for consumers to download financial data over the Web. Microsoft and Digital Insight Corp. said they are joining forces to streamline the adoption of OFX with Money, Microsoft’s personal financial management (PFM) software. The deal calls for Microsoft to work with Digital Insight to promote the adoption of OFX for the direct exchange of financial information between financial DI’s AXIS online banking sites and Money. Digital Insight has made PFM connectivity via OFX available to its 1,622 financial institution clients, enabling their 32 million potential Internet banking users to directly download account information into Money. “Digital Insight is seeing an increasing demand for connectivity,” said Michal Geller, senior product manager for Digital Insight. “We therefore wanted to work with our connectivity partners to streamline the process. Microsoft Money is a popular solution for our clients, and this agreement will allow end users two-way interaction with their financial institutions.”