Rize and MX Partner to Provide Fintechs and Neobanks with Embedded Finance for Better Data Insights and Banking Capabilities
Rize’s API and banking-as-a-service platform to help joint customers cut development time and costs
LEHI, UT and ARLINGTON, VA – February 25, 2022 – MX, the financial data platform and leader in modern connectivity, today 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.
“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.”
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.”
MX, the financial data platform and leader in modern connectivity, 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 16,000 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. To learn more, follow us on Twitter @MX or visit www.mx.com.
Rize is a fintech infrastructure platform that provides fintechs and non-financial companies access to all of the tools they need to efficiently build, launch, and scale new financial products and services via one API. Open DDA accounts via our sponsor bank and get access to transaction processing, card issuance, payment rails and compliance tools all in one seamlessly integrated platform. To learn more, visit RizeFS.com.