The OFX 2.2 update aims to bridge existing infrastructure with changing consumer needs by strengthening security and enabling reliable data exchange. The specification now supports token-based authentication models, which are expected to become the standard in bank authentication. This update is part of a broader effort to modernize the financial system and empower consumers and developers alike. The OFX Consortium, of which Plaid is a member, has taken steps to align this standard with more contemporary authentication mechanisms, building on previous efforts such as Plaid Link and its partnership with Stripe. By working with competing standards, the consortium seeks to ensure that any changes in the financial system prioritize consumer empowerment and innovation.