Qolo partners with MX to help FinTechs and Neobanks scale faster

By Edlyn Cardoza

Qolo, the omnichannel payments platform for FinTech, recently announced a strategic partnership agreement with MX, a leader in open finance. Qolo and MX provide fast-track solutions to help businesses, particularly neobanks and FinTechs, stand up a core mobile banking experience. This allows them to get to market quickly while also future-proofing their growth.

Combining the aggregation services and first-class user experience offered through the MX platform, Qolo will serve as the payment processor providing the necessary APIs to allow users to open and view accounts, make deposits, move their money, and more. The strategic partnership has already yielded more than 30 joint opportunities.

“Fintechs and neobanks are growing rapidly and they are hungry for the functionality and sophistication that our combined teams can offer,” said Patricia Montesi, Qolo CEO. “By pairing Qolo’s single API payment ecosystem together with MX’s core mobile banking functionality and unmatched user experience, we’re demanding more for the next generation of disruptors.”

“We believe MX’s commitment to partnering with best-in-class organizations that complement our offerings is key to sustained company growth,” said Don Parker, executive vice president of partnerships, MX. “Cost efficiency, scalability, trustworthiness — those are the key drivers of innovation that will transform the next iteration of the global financial ecosystem as we lead this revolution with respected partners like Qolo.”

Founded in 2018, Qolo has a mission to help businesses navigate today’s complex payments and financial transactions landscape. Qolo empowers businesses to manage payments efficiently with an eye toward growth and reduced expense. Qolo supports companies wherever speed, security and cost of payments are essential, including gig worker payouts, distribution payments, multi-currency and cross-border businesses and modern fintech firms. Composed of experts and entrepreneurs in payments, Qolo’s founding team has more than a century of combined industry experience.