MX – Building the largest open finance ecosystem to help drive innovation and improve business experiences

MX makes data accessible and actionable for everyone. MX combines trusted open finance APIs with enhanced financial data to quickly and securely connect to and verify data for hundreds of use cases including account opening, money movement, and underwriting. Founded in 2010, MX Technologies, Inc. is one of the fastest-growing fintech innovators. Ryan Caldwell and Brandon Dewitt started the company in Utah, where headquarters remains, but as they have grown is a remote-first workplace with employees across America. Through Direct API and OAuth connections with the latest security standards enable organizations to verify and let consumers connect accounts in seconds MX increases accounts aggregated per consumer with connections that last for years, not months. Multiple solutions ensure access no matter where consumers host their financial information. Secure tokens eliminate risk of sharing login credentials. Real-time data helps verify consumers against historical data and detect abnormalities quickly and easily. Instant Account Verifications eliminate need for microdeposits to verify accounts. Organizations can instantly check balances before payments process.

Leveraging Robust Finance API Products for Top Financial Institutions

Account Aggregation: In fact, 72% of consumers would likely seek out a different bank or credit union if their current provider couldn’t connect their financial accounts to financial apps or other online accounts. MX connectivity solutions enable fast, secure, and reliable ways for consumers to connect to their financial accounts and access their financial data. API data requests can power Account Owner Identity (IDV), statements, transaction history, account aggregation, balance checks, and account verifications (IAV). Businesses can also leverage multiple connectivity solutions to ensure access no matter what. Transactions labeled with an unclear string of characters drive false alarms for fraud, customer frustration, and an influx of calls to the call center. MX translates indecipherable financial data into actionable, clear transaction information and insights.

MXaccess: It is an open finance API platform that improves the data sharing experience for financial institutions, fintechs, and other third parties, on behalf of the consumer. People increasingly want to share their financial data with fintech apps for services like budgeting, payments, tax planning, and investment management. However, the majority of financial data sharing is done through less secure methods that require consumers to give their usernames and passwords to a third party. MXaccess makes it easier than ever to deliver a safe, secure, and reliable connectivity experience. With tokenized API connections, consumers can share their data without sharing their login credentials with third parties. Oauth connections minimize risk and costs of screen scraping. Businesses can better monitor and manage where consumers share data, including what data is leaving the platform and where it's going. Financial Institutions can finally see where customers are choosing to share their data and can manage access limits.

MXapi: It delivers reliable access and connections to enhanced, verified financial data through a complete suite of connectivity and verification API solutions. Consumers expect instant results and frictionless experiences. And, organizations need a better way to manage fraud and risk, protect against cyber-attacks, maintain regulatory compliance, and improve trust with their consumers. MXapi cuts down on customer frustration, risks, and time for organizations with seamless connectivity and instant account verifications. Direct API and OAuth connections with the latest security standards enable organizations to verify and let consumers connect accounts in seconds. MX increases accounts aggregated per consumer with connections that last for years, not months. Multiple solutions ensure access no matter where consumers host their financial information. Secure tokens eliminate risk of sharing login credentials. Real-time data helps verify consumers against historical data and detect abnormalities quickly and easily. Instant Account Verifications eliminate need for microdeposits to verify accounts. Organizations can instantly check balances before payments process.

MXdata: Businesses need actionable data to drive better experiences and new innovations. Consumers need clear insights to make better financial decisions. But, unrefined transactional data is confusing and doesn’t give the context businesses and consumers need. MXdata makes financial data actionable with a comprehensive suite of data enhancement APIs for cleansing, classification, categorization, and additional metadata. With MXdata, organizations can deliver enhanced, verified financial data to enhance consumer experiences, drive new growth opportunities, improve decision making, and make better use of time and resources. Cleansed data enables unique and personalized experiences based on consumer spending, saving, and borrowing with cleansed and categorized transaction data. Categorized data enables organizations to uncover new revenue streams, improve operational efficiency, and gain insight into potential partnership opportunities. With enhanced data that goes beyond traditional credit scores, organizations can better understand a consumer’s complete financial picture, which reduces lending risks. With automated cleansing and categorization, businesses can reduce the time and resources needed to organize, review, and standardize financial data.

The Leader Upfront

Jim Magats is Chief Executive Officer of MX. Jim joined MX following 18 years as a senior executive at PayPal Inc., where he helped spearhead the organization’s transformation into one of the most valuable and innovative fintech companies in the world. Most recently, Magats served as PayPal’s Senior Vice President for Omni Payments Solutions, which included overseeing the company’s open banking strategy and solutions, as well as a partnership network of more than 150 financial institutions and networks. Jim first joined PayPal in 2004 and was instrumental in PayPal’s successful global expansion.

"We always carry a deep sense of drive and passion with us. If you thrive in a challenging work environment, surrounded by incredible team members who will help you grow, MX is the right place for you."