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1033feature

Get ready for CFPB's Section 1033

Raidiam Connect is the world’s only out-of-the-box solution combining a participant / data consumer registration flow with application creation, credential generation, resource management and ecosystem discovery.

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  • thredd
  • Open Banking UK
  • Commonwealth Bank
  • Foreign & Commonwealth Office
  • Lloyds Banking Group
  • Open Insurance Brasil
  • thredd
  • Westpac
  • UAE-central-bank
  • central bank of brasil
  • ConnectID
  • Open finance brasil

Is your organization ready for Section 1033?

Section 1033, part of the Dodd-Frank Act, is designed to regulate open banking in the United States, enabling consumers to access and share their financial data with third parties. 

To comply with Section 1033, banks and financial institutions will need to change how they handle customer data. 

Problem

Organizations must offer secure, standardized APIs for authorized third parties, manage access efficiently, and implement strong data protection measures - all while ensuring compliance with evolving regulations.

Impact

Publicly accessible APIs expand the attack surface, increasing cybersecurity risks. Onboarding and maintaining third-party access add operational costs, and integrating new systems requires significant effort and expertise.

Raidiam Connect is the world’s only

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out-of-the-box solution for API consumer onboarding with application registration

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, credential generation

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and resource management

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.

The Solution

Raidiam Connect enables: 

  • Self-serve entity onboarding, certificate management, credential creation and cycling​ 
  • Replace traditional keys and secrets with asymmetric cryptography​ 
  • Control access for technical and non-technical users via a single pane of glass for access and credential management​ 
  • Grant and verify permission changes, including one-click access revocation​ 
  • Issue transport and encryption certificates, for authentication, non-repudiation and data security​ 
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Take back control of API access for 1033 compliance

Unrivalled security with intuitive self service. Use Raidiam to take control.

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Upgrade to 1033 compliant API management with minimal investment

Register APIs and authorization servers, and synchronize the registered client applications. Assign authorization and scope-based attributes to the credentials of client applications. Enable programmatic discovery of all available resources.

Deliver frictionless, compliant data recipient onboarding and accelerate time-to-value

You can customize your technical onboarding flow for partners and customers and Hand off to Know Your Business (KYB) providers.

Enhance your security posture with standards and integrations built in

Meet global security standards for financial APIs, including FAPI parts 1 and 2, while seamlessly integrating with Raidiam’s roster of major Identity Access Management (IAM) vendors.

Why Raidiam?

  • Pioneers in data-sharing
    With deep expertise in trust frameworks and secure infrastructure, we enable your success
  • Financial-grade security
    Technology built to the highest standards, including FAPI and ISO 27001, ensuring secure API protection
  • Proven track record
    Trusted by banks, regulators and enterprises worldwide to power secure ecosystems
  • 24/7 global support
    Always-on assistance to keep your ecosystem running smoothly, minimising downtime and risk

FAQs

Need to know more speak to our consultant.
What is Section 1033 of the Dodd-Frank Act, and why is it important for my organization?

Section 1033 is a key part of the Dodd-Frank Act that aims to give consumers more control over their financial data. It mandates that financial institutions provide consumers with access to their financial data in a usable format, enabling them to share this data with authorized third parties. Compliance is crucial as it avoids potential penalties, enhances customer trust, and positions your organization as a leader in open finance.

How does Raidiam Connect help my organization comply with Section 1033?

Raidiam Connect provides an out-of-the-box solution that streamlines technical onboarding for 1033 compliance. It combines participant registration, application creation, credential generation, resource management, and ecosystem discovery into a single platform. This enables you to register APIs, synchronize client applications, attach authorization attributes, and implement programmatic resource discovery, all while adhering to industry standards like FAPI.

What are the key security challenges in complying with Section 1033, and how does Raidiam Connect address them?

Publicly accessible APIs, as mandated by 1033, increase your attack surface and expose you to cybersecurity risks. Raidiam Connect mitigates these risks with financial-grade API security, including certificate-based access, strong authentication, and centralized access controls. It replaces traditional API keys with asymmetric authentication, closing cybersecurity gaps and ensuring only authorized entities can access sensitive data.

How does Raidiam Connect simplify the onboarding of third-party data recipients for 1033 compliance?

Raidiam Connect delivers a frictionless, compliant data recipient onboarding process with self-service tools and automated credential management. It allows you to customize your technical onboarding flow, integrate with Know Your Business (KYB) services, and incorporate document signing capabilities. This reduces engineering dependency, accelerates time-to-value, and enhances the overall developer experience.

Can Raidiam Connect integrate with my existing systems, and how does it help minimize technical effort?

Yes, Raidiam Connect is designed to integrate seamlessly with your existing Identity Access Management (IAM) vendors and infrastructure. This minimizes technical effort and ensures compatibility with your current architecture. Raidiam Connect also supports global security standards for financial APIs (FAPI parts 1 and 2), further enhancing your security posture with built-in standards and integrations.

Schedule a demo

Schedule a demo to discover how Raidiam Connect can help you become 1033 compliant with minimal investment.

Schedule a demo