MX Announces New Product Innovation at Snowbird Summit

Mark Tullis

Sep 20, 2022 - 2 min read

Today at the third annual Money Experience Summit at Snowbird MX announced record-setting gains in financial data connectivity and the availability of new product innovation and new implementation partners that bolster the MX platform – including a new Mobile Banking Software Development Kit (SDK) and five new certified developer partners.

MX, based in Lehi, Utah, helps the world’s top financial institutions and fintechs access and act on financial data to build personalized money experiences for their users, increase the pace of innovation, and drive industry collaboration.

In the past 12 months, MX has made significant upgrades to its already industry-leading infrastructure for financial account linking with:

Increasing Instant Account Verification (IAV) coverage 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

MX introduced a new Spending Plan budgeting tool that helps consumers spend less than they earn, align spending to their financial goals, and plan for significant life changes. The Spending Plan budgeting tool is part of MXinsights, which is built to enable financial services companies to help their users make better financial decisions and improve their financial health. The company also launched new insights that protect users against unexpected expenses, help them control spending, and save money.

As part of a developer-first approach, MX has introduced a new Mobile Banking Software Development Kit (SDK) that takes the company’s 5-star MXmobile app functionality and allows developers to implement a full mobile banking app independently, on top of the MX platform API. In addition, MX announced five new developer partners: Trabian, DataHouse, Praxent, Tailwind, and 10Pearls.

“Financial data is the lifeblood of a connected economy. Our vision is to make data accessible and actionable for all,” said Brett Allred, Chief Innovation Officer at MX. “These new product features and partnerships help build the open finance ecosystem and empower the world to be financially strong.”