Open Financial Exchange

A standard specification for the exchange of electronic financial data over the Internet. Using a request-response system of communication, OFX allows a client to connect directly to a financial institution's server. An OFX application sends a request to another OFX application, which then sends a response.

Historical perspective: OFX was created by CheckFree, Intuit, and Microsoft in 1997.

See also : e-wallet  
NetLingo Classification: Net Technology