MX and Viva First partner to build financial wellness within the Latino community

By Pavithra R

MX, a leader in open finance and creator of the Money Experience category, has announced partnering with Viva First, a Texas-based digital bank startup, to improve the financial well-being of the Latino community, all 52 mn in the United States through a Spanish-first approach and technology platform catered to Latino preferences.

Under the partnership, Viva First will leverage MX’s digital solution, MoneyMap with Pulse, to provide customers with digital money management tools personalized to their spending and saving habits. MoneyMap with Pulse, powered by MX’s data enhancement uses machine learning to provide Viva First’s customers with self-guided, personalized financial insights on their smartphones to build financial wellness and independence.

“Our number one goal is to build financial wellness within the Latino community; we needed a partner who could help us build a powerful, customized mobile experience — taking our users from having few tools to having an entire tool kit at their disposal. We saw from early on that our vision and goals best aligned with those of MX,” said Jim Simpson, Co-Founder of Viva First.

Underlying MoneyMap with Pulse is MX’s digital money management including its data aggregation and data enhancement engine to help various financial institutions, fintechs and organizations clean, categorize, and augment financial data so customers can have the tools they need to better manage their money.

“We’re thrilled to be working with Viva First on a digital banking experience that will include delivering accurate, personalized financial advice for the Latino community. Partnering together, we’ll strengthen Viva First’s engagement with their customers as they advocate for their financial success in the short and long-term,” said Nate Gardner, Chief Customer Officer at MX.

Viva First is currently in its alpha phase of testing and is scheduled to launch its mobile app in Texas in 2021.

Founded in 2010, MX is a growing FinTech innovator, powering more than 2,000 financial institutions and 43 of the top 50 digital banking providers to improve the financial lives of more than 30 million people. The firm leads the industry through its secure, reliable and direct API connections to top financial institutions and most advanced enhancement engine, using AI and ML to categorize transaction data with 98% coverage.