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Rize and MX Partner to Provide Fintechs and Neobanks with Embedded Finance for Better Data Insights and Banking Capabilities

MX, the financial data platform and leader in modern connectivity, announced a partnership with Rize, an embedded banking platform, to empower financial technology developers and non-financial companies to efficiently build, launch, and scale new financial products and services via a single API. Rize and MX expect the partnership will help customers significantly reduce development time and costs.

The referral-based partnership gives existing and potential clients access to Rize’s banking infrastructure and best-in-class compliance program, as well as the ability to securely link bank accounts from over 16,000 financial institutions and fintechs through MX’s secure data connectivity network. Beyond connectivity, MX uses industry-leading machine learning to clean and enrich transaction data.

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“As we tackle the enormous goal of rebuilding the financial infrastructure, our vision of making a company’s task of integration as simple as possible has aligned perfectly with that of MX,” said Justin Howell, Founder and CEO of Rize. “Now developers and data providers can spend less time developing and more time focusing on their customers.”

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Together, MX and Rize will be able to better serve growing organizations and provide them with the banking and data tools to reach scale and product parity with competitors.

“Our partnership with Rize is all about developing new financial products and services through one API,” said Don Parker, EVP Partnerships, MX. “By cutting the associated time and costs of development, we’ll open up MX functionality to a wider range of fintech companies and organizations already working to improve financial strength and access to quality financial tools.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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