Open banking firm MX has announced the availability of a new product and new implementation partners that are said to “bolster” the MX platform. MX has revealed a new mobile banking SDK for companies to build their own mobile banking apps. MX noted that it has also added five new certified MXmobile SDK developer partners. MX also announced new data-driven and budgeting tools to help consumers control spending and to improve their financial health. The new services were revealed during MX’s Money Experience Summit taking place in Utah this week.
MX reported that in the past 12 months it has upgraded its services including:
- Increasing Instant Account Verification (IAV) coverage by more than 300% year over year from 2021 to 2022
- Signing MX’s first data-sharing access agreement in Canada for CIBC’s 11 million clients
- Establishing a data-sharing agreement with Fiserv, becoming the first company to access tokenized consumer data via AllData® Connect from Fiserv
- New Data-Driven Insights and Budgeting Tools
MX’s Mobile Banking Software Development Kit (SDK) is designed to enable developers to implement a full mobile banking app independently, on top of the MX platform API. The 5 new developer partners include: Trabian, DataHouse, Praxent, Tailwind, and 10Pearls.
Brett Allred, Chief Innovation Officer at MX, said that financial data is the lifeblood of a connected economy:
“Our vision is to make data accessible and actionable for all. These new product features and partnerships help build the open finance ecosystem and empower the world to be financially strong.”