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November 30, 2021 | 0 min read
LEHI, Utah, November 30, 2021 -- Today MX announced it has won the Open Finance Solution of the Future award in the 4th annual FDATA Global Open Finance Awards. MX was chosen out of many nominations from around the world for its secure data sharing with MXaccess.
The Global Open Finance Awards, hosted by the Financial Data and Technology Association (FDATA), recognizes excellence and innovation in Fintech, and the people who make it happen, to drive the delivery and realization of Open Banking and Open Finance to the market.
"We are thrilled to have MXaccess be recognized as the Open Finance Solution of the Future award," said Jane Barratt, Chief Advocacy Officer, MX. "As we look towards the future of Open Banking, MX is continually innovating and providing technology to help financial institutions and fintechs improve the account holder experience. By removing credentials from our industry, we can reduce risk and save costs while improving the overall financial ecosystem to adopt Open Banking best practices to protect consumers’ data."
MXaccess improves the data sharing experience for customers by removing friction and frustration due to broken connections caused by screen scraping. It can be deployed as a self-hosted or MX-hosted platform for organizations that want more control of their open finance strategy.
MXaccess is also being developed into a multi-tenant solution that digital banking providers can offer to their network of institutions. Built on Financial Data Exchange (FDX) standards, the platform improves the data-sharing experience for customers with transparent, credential-free data access, and gives new insights to the financial institution as the sharing source. MXaccess keeps the financial institution at the center of the data-sharing experience by providing a customer consent dashboard that gives users visibility and control over what and where data is shared.
The Global Open Finance Awards were established to recognize those organizations and institutions that are actively establishing policies and delivering innovation that empower customers to leverage their financial data, so they can make better decisions and take fuller control over their financial lives. Awards will be handed to the organizations that can demonstrate that the work they do to deliver open finance to their clients and consumers is being done in the best interest of those that it directly impacts.
For more information visit FDATA Open Finance Awards 2021.
Using emerging technologies, putting in practice innovative ideas, reimagining processes and user journeys – this award is for a product/solution/service that will define the future of banking and finance. It can be applicable to any stage of a financial service process and any business line. This is focused on genuinely innovative, forward-thinking open finance business models.