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open financial exchange (Internet) (OFX)

Open Financial Exchange (OFX) is a format developed by Microsoft and Intuit Quicken for financial transactions over the Internet. OFX incorporates the older Open Financial Connectivity( OFC) and Open Exchange Format (OEF) transaction formats.

OFX is an open standard for the exchange of financial data used in the USA. The OFX standard is system independent and formats transactions and invoice data in Standardized Generalized Markup Language( SGML). OFX is used, among other things, as an accounting system for IP-basedcloud services. A comparable accounting system is Interactive Exchange( IFX), which however implements the documents, invoices in Extensible Markup Language(XML).

In Europe, the standard for financial transactions comparable to OFX is called Home Banking Computer Interface( HBCI).

Englisch: open financial exchange (Internet) - OFX
Updated at: 19.04.2012
#Words: 116
Links: Internet, open financial connectivity (OFC), transaction (TRX), standard (STD), data
Translations: DE

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