MX delivers a better, smarter and more secure data sharing experience with MXaccess

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“MXaccess opened up a whole new world to us. After making several updates to our digital online experience for members, Maps Credit Union started receiving calls from frustrated customers who couldn’t understand why their apps like Venmo, Robinhood and Acorns couldn’t access their accounts, ” said Chris Gilles, Experience Manager, Maps Credit Union. “Customers were blaming us when the fault was really on the data aggregator which relied on screen scraping, looking for data in places where it didn’t exist, causing dropped connections. With MXaccess, we were able to improve the customer experience and significantly reduce the number of dropped connections. “

MXaccess can be deployed as an on-premises or self-hosted platform for organizations that want more control over their open funding strategy and as a multi-tenant solution that digital banking providers can offer to their network. intuitions. Built on Financial Data Interchange (FDX) standards, the platform improves data sharing experiences for customers, eliminating the need for screen scraping and providing data access without a token identifier. By streamlining the onboarding process for data recipients (typically aggregators, fintechs, and other financial institutions), data providers can view, approve, and even monitor connection requests to reduce risk, reduce costs, and manage loads on internal systems.

MX has collaborated across the industry to accelerate the end of credential-based data sharing while pushing for a more secure token-based approach that gives consumers more control over the data they share and how ”, said Jane barratt, Head of Advocacy, MX. “With MXaccess, financial institutions and fintechs can discover new sources of revenue and start benefiting from bilateral API-based models. “

With MXaccess, organizations can benefit from tokenized, secure, and reliable connections when performing updates designed to improve the experience. The platform keeps the financial institution at the center of the data sharing experience for its clients, by providing a client consent dashboard that gives users visibility and control over where they have shared their data. data and the ability to revoke access at any time.

For more information visit: https://www.mx.com/products/mxaccess/

About MX
MX, the financial data platform and leader in modern connectivity, helps organizations around the world connect to the world’s financial data and turn raw, unstructured data into their most valuable asset to deliver business experiences. smart and personalized money. MX connects more than 16,000 financial and fintech institutions, providing the industry’s most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers. To find out more, follow us on Twitter @MX or visit www.mx.com.

Contact:
Tom cook
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SOURCE MX

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