Finastra partners with MX – a leader in open finance – to deliver personalized financial management tools and insights for consumers

Finastra’s Fusion Digital Banking solution integrates with MX PFM, Insights, and Account Aggregation solutions to enable financial institutions to better guide consumers toward financial wellness

Finastra, a global provider of financial software applications and marketplaces is partnering with MX Technologies, Inc., an industry leader in Open Finance, „to provide more seamless, personalized money experiences by integrating MX’s Personal Financial Management (PFM), Insights, and Account Aggregation solutions with Finastra’s Fusion Digital Banking solution” according to the press release.

“Consumers are looking to their financial providers to help them better manage their money and guide them toward financial health. By partnering with Finastra, we’re enabling more than 150 financial institutions using the Fusion Digital Banking solution to improve the money experience and meet consumer needs with personalized recommendations, services, and tools,” said Raymond den Hond – Chief Commercial Officer, Partners, at MX.

With the integration of MX and Fusion Digital Banking, financial institutions can provide consumers with a robust set of PFM and financial wellness tools, including budgeting and debt management, personalized, proactive insights based on their spending and saving behaviors, and the ability to create a consolidated view of their finances by connecting all of their financial accounts.

„In addition, financial institutions can better identify when, where, and how consumers are engaging with their finances with enhanced data and customer analytics. This enables financial institutions to increase member engagement and retention, drive financial wellness, and uncover new business growth opportunities.” the company explains.

Peter Longo – Vice President, Product Management at Finastra: “As the industry continues to embrace Open Finance and account holders look for more holistic solutions to manage their finances, it is critical that we bring in the right partners to help provide what today’s banking customers have come to expect. We look forward to working with MX to bring the benefits of Open Finance to more banks across the United States.”

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Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world’s top 50 banks.

MX Technologies, Inc., a leader in Open Finance, helps organizations everywhere connect to the world’s financial data and turn raw, unstructured data into their most valuable asset to deliver intelligent and personalized money experiences. MX connects more than 13,000 financial institutions and fintechs providing the industry’s most reliable and secure data connectivity network. Additionally, MX powers 85% of digital banking providers, as well as thousands of banks, credit unions, and fintechs, with a combined reach of over 200 million consumers.