MX leverages open finance direct API
connections on Jack Henry's digital banking platform across more
than 800 financial institutions
LEHI,
Utah, Feb. 1, 2024 /PRNewswire/ -- MX
Technologies, Inc. announced today that MX and Jack Henry (NASDAQ:
JKHY) have agreed to work together to deliver a more seamless and
secure data sharing experience for consumers across more than 800
financial institutions. MX's interoperable API platform will now
directly connect through Jack Henry's secure API connections to
expand Jack Henry's efforts to replace inbound screen scraping on
its Banno Digital Banking Platform.
By creating direct API connections with clients, Jack Henry is
making it easier for consumers to connect financial accounts
securely and reliably without the need to share usernames and
passwords. API connections allow financial institutions to better
analyze, manage, and maintain data sharing connections while
reducing risk and keeping consumer data safe.
"As an industry, we need to raise the bar on delivering money
experiences that keep consumer data safe. By moving to API
connections, financial institutions can better detect and mitigate
fraud while delivering a more
seamless experience to consumers," explained Ben Metz, Chief Digital and Technology Officer
at Jack Henry.
API connections are not only more secure but also enable better
privacy and transparency for the nearly 10 million registered users
on the Banno Digital Platform. With MX's API connection, consumers
can connect to and share their financial data on their terms with
permissioned data sharing.
"Consumers have an average of five to seven relationships with
various financial providers, and without a clear and comprehensive
picture of their finances, they're left making decisions based on
pieced-together information. We can do better," said Raymond den
Hond, Chief Commercial Officer, Partners, at MX. "Consumers should
be able to quickly and easily connect their accounts for a complete
view of their financial life. MX is excited to partner with Jack
Henry to drive direct API connections and help ensure consumers
have full control of their financial data and drive industry
adoption of Open Finance forward."
About Jack Henry & Associates, Inc.®
Jack Henry™
(Nasdaq: JKHY) is a well-rounded financial technology company that
strengthens connections between financial institutions and the
people and businesses they serve. We are an S&P 500 company
that prioritizes openness, collaboration, and user centricity –
offering banks and credit unions a vibrant ecosystem of internally
developed modern capabilities as well as the ability to integrate
with leading fintechs. For more than 47 years, Jack Henry has
provided technology solutions to enable clients to innovate faster,
strategically differentiate, and successfully compete while serving
the evolving needs of their accountholders. We empower
approximately 7,500 clients with people-inspired innovation,
personal service, and insight-driven solutions that help reduce the
barriers to financial health. Additional information is available
at http://www.jackhenry.com.
About MX
MX Technologies, Inc. helps financial
institutions, fintechs, and their consumers understand and do more
with financial data. With MX, organizations can reliably connect
and verify account and transaction data and surface insights to
uncover revenue opportunities, better serve consumers, and grow
their business. MX helps deliver personalized money experiences
that improve consumer engagement and outcomes. To learn more follow
us on Twitter and LinkedIn @MX or visit www.mx.com.
Contact:
Tom Cook
tom.cook@mx.com
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SOURCE MX