Moneyhub and MX in strategic alliance to enhance global Open Finance adoption

Moneyhub and MX in strategic alliance to enhance global Open Finance adoption

Moneyhub, the highly regarded data and payments platform pioneering Open Banking and Open Finance, has unveiled a strategic alliance with North America’s Open Finance heavyweight, MX Technologies, Inc.

This partnership signifies a milestone for both entities, empowering them to maximise their respective capabilities and networks to stimulate positive results for organisations and consumers in Europe and North America.

The collaboration stems from a shared commitment to improve the lifetime financial health of individuals and foster financial resilience worldwide. By harnessing real-time data and insights, Moneyhub and MX aid consumers in optimising their savings and investments, monitoring their spending, minimising expenses, and effectively managing their debt. This symbiotic partnership allows Moneyhub to direct clients needing support in North America to MX, while MX can refer its clients to Moneyhub for Open Finance solutions in Europe.

Acting as a conduit for European consumers to share data on their own terms, Moneyhub strives to improve financial health through automated money management, offering access to more apt products. Simultaneously, Moneyhub equips businesses with a more profound understanding of their customers, enabling them to provide more suitable, relevant, and personalised products.

Moneyhub’s award-winning Personal Finance Management platform and Open Banking APIs offer a comprehensive view of consumers’ financial circumstances, with their consent. Businesses utilising Moneyhub’s white-label products, APIs, or widgets can leverage these insights to tailor more personalised products and communications. This not only enhances financial wellness but also promotes brand loyalty.

MX, on the other hand, helps financial institutions, fintechs, businesses, and their consumers in the U.S. and Canada to understand and manage financial data more effectively. MX improves business and consumer outcomes by reliably connecting and verifying data with its industry-leading connectivity solutions and Open Finance APIs, revealing data insights, and delivering personalised money experiences.

The partnership is anticipated to fuel the adoption of Open Finance across North America and Europe, instigating a global industry shift. Businesses utilising these products can unlock the power of Open Finance, and more importantly, harness the potential of Open Data to drive their customer-centric initiatives.

Moneyhub CEO Samantha Seaton said, “Forming a strategic partnership with MX is an exciting development for Moneyhub. It will allow our clients to use consent-driven data to improve their customers’ financial lives, on a global scale. We’re thrilled that we can, via this partnership, offer our current and future clients even greater opportunity, and are excited to work alongside MX to create better outcomes for consumers.”

Raymond den Hond, Chief Commercial Officer, Partners at MX said, “MX and Moneyhub share the belief that consumer-permissioned data sharing is critical to the future of our industry. Through this partnership, we’re excited to tap into Moneyhub as an option to meet the needs of our clients who also operate in Europe, enabling them to deliver data-driven, personalised experiences and automated insights to consumers in both regions.”

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