LibOFX is the open source generic library written in C and C++ to provide the financial software to support the Open Financial eXchange specification. The software is released under the GNU General Public License. All the Linux, BSD and Unix like operating systems support LibOFX. The intended audiences of LibOFX are developers, end users, and financial and insurance industry.

The term OFX stands for Open Financial exchange. OFX is the specification for the financial institutions for electronic exchange of financial data. It covers wide array of financial activities like banking, bill payment, bill presentment, investment tracking with stocks, bonds and mutual funds, for consumer and small business.

LibOFX acts as a parser and an API is designed to allow applications to support OFX command responses. New DirectConnect API is there in the LibOFX 0.8.0 to provide statement downloads. The previous version of LibOFX can distinguish between OFX and OFC files through auto detection architecture.

ofxdump and ofxtoqif are the two utilities which are included in the version 0.8.0 of LibOFX. Between the two utilities of LibOFX, ofxdump writes to stdout header class everything the library understands about a specific OFX response file, in human readable form. ofxtoqif is the OFX response to the Quicken Interchange File format. Since the QIF file format is primitive, the utility ofxtoqif supports the importation of bank statement in any QIF supporting software.