OFX

OFX, or Open Financial Exchange, is a standard digital format used by financial institutions and personal finance software to securely share financial data. It allows you to electronically transfer information such as bank statements, transactions, and account details between different systems, making financial management more efficient. Think of it as a common language that different financial tools understand, enabling seamless communication without manual data entry. This standard improves accuracy, reduces errors, and simplifies tasks like balancing accounts or tracking spending across multiple financial platforms.