Built on open standards, MX Open helps financial institutions and fintechs accelerate their open finance strategy and give customers greater access and control over their financial data
MX, the leader in money experience, announced the launch of MX Open, an open finance platform built to help financial institutions and fintechs create more personalized digital experiences that give their customers greater access and control over their financial data. Built on the industry’s most robust and capable connectivity network, MX Open gives financial institutions and fintechs the freedom and flexibility to reduce costly and burdensome vendor lock-in while securely connecting to more than 50,000 connections.
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“MX Open was built with the belief that secure, reliable connectivity should be open to everyone — every bank, every credit union, every organization,” said Brett Allred, Chief Product Officer, MX. “MX Open gives organizations the tools they need to define and launch their open finance strategy and innovate faster with the vendors and technology providers that will serve their customers best.”
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Open-source software solutions give financial institutions increased control over their digital roadmap to innovate faster and deliver the right products to the right customers in the moment that matters most. In June, MX launched the Easy SBA Portal to help financial institutions streamline the PPP loan application process, granting banks and credit unions an open-source, royalty-free license. In a few short weeks, the open-source solution serviced over $5 billion in PPP funds, representing tens of thousands of jobs saved and critical financial support for small businesses.
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