Moneyhub, the award-winning data and payments platform built on the principles of Open Banking and Open Finance, has announced a strategic partnership with MX Technologies, Inc., a leader in Open Finance in North America. This partnership enables Moneyhub and MX to leverage each company’s capabilities and networks to help drive positive outcomes for organizations and consumers in both Europe and North America.
Both organizations are driven by their missions to enhance the lifetime financial wellness of people and empower the world to be financially strong. Moneyhub and MX enable access to real-time data and insights that help consumers optimize their savings and investments, track their spending, reduce expenses, and pay down debt. Through this partnership, Moneyhub will be able to refer clients to MX for support in North America, while MX can in turn refer clients to Moneyhub who have a need for open finance solutions in European markets.
Moneyhub enables European consumers to share data on their terms, improve their financial health through automated money management, and gain access to more suitable products. At the same time, Moneyhub helps businesses better understand their customers to offer them more appropriate, relevant, and personalized products.
Through Moneyhub’s award-winning Personal Finance Management platform and Open Banking APIs, Moneyhub gives consumers and businesses, with the consent of the customer, a holistic view of the consumer’s financial situation. Businesses using Moneyhub’s white-label products, APIs, or widgets in return, are able to utilize the insights gained from their customer’s data to create more personalized products and communications that better suit their customers, and subsequently improve financial wellness and drive brand loyalty.
In addition, Moneyhub Decisioning tools help firms better assess applicants to ensure better financial well-being. Unlike traditional credit scoring, data-powered affordability checks can provide a real-time view of an applicant’s financial information.
MX helps financial institutions, fintechs, businesses, and their consumers in the U.S. and Canada to understand and do more with financial data. MX improves business and consumer outcomes by helping to reliably connect and verify data with its industry-leading connectivity solutions and open finance APIs, surface data insights, and deliver personalized money experiences. MX enables trusted access to financial data and makes it actionable for financial institutions and fintechs to make intelligent business decisions and deliver superior money experiences that drive growth.
SOURCE: PRNewswire