MX partners with Moov to empower fintechs & organizations to build better experiences

By Pavithra R

MX, a leader in open finance and creator of the Money Experience category, has announced partnering with Moov Financial, a provider of portable, extensible, open-source embedded banking platform, to offer instant account verification (IAV) and money movement to fintechs and companies of all sizes.

Moov’s technology allows platforms, marketplaces, and software companies to embed payment functionality into their software to accept, store, and disburse money seamlessly. Together the companies will offer an attractive pricing model for startup fintechs and SaaS companies looking for a complete turnkey solution.

“Whether you think of yourself as a fintech or not, every modern company is seeking a way to automate its process to accept, store, and disburse money. Developers want the best user experience possible for their application. MX’s ability to provide fast IAV makes the payment experience swift and more seamless than it would have been without the joint solution,” said Wade Arnold, CEO of Moov.

The combined solution will provide faster, secure and reliable IAV, resulting in improved money experience for customers who are adding banking and payment functionality to their solutions, especially to those trying to modernize their technology or switch over from legacy systems. The alliance will help organizations automate the Money Experience by connecting accounts at nearly any financial institution in the U.S. for seamless, low-cost, and low-risk money movement.

“Moov is transforming the way fintechs enable account verification, money movement, and ACH payments through APIs. We align with their mission to help fintechs and organizations focus on building amazing new experiences. FinTechs like Moov are a big reason why a massive digital shift is happening across the banking industry,” said Brandon Dewitt, Cofounder and CTO of MX.

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.