Plaid, along with a coalition of financial technology and security compliance companies, has launched the Open Finance Data Security Standard (OFDSS), a proposed framework that addresses common data security risks in the fintech industry. The standard is designed to help emerging digital finance companies protect consumer information and instill confidence in the fintech ecosystem about robust data security protections. OFDSS is a response to the need for more tailored data security guidelines, as existing standards were not designed for cloud-native delivery models or early-stage companies. The standard establishes 63 individual security requirements across 12 control domains, contextualized with implementation guides and high-level audit steps, and is intended to be a living document that will evolve over time. Founding supporters include Plaid, Flinks, MX, Truework, Drata, Laika, Secureframe, and Vanta, which aim to raise the bar for data security in the fintech ecosystem while enabling innovation and protecting consumers.