MX is a financial data platform. It gathers account and transaction data from thousands of institutions, enriches it by cleaning merchant names and categorizing spending, and delivers it to banks, credit unions, and fintech apps that want to offer money management features.
Its products include account aggregation, a digital banking experience that institutions can embed, insights and budgeting tools, and data for lending decisions. AI improves categorization and personalization, and connections increasingly use direct bank APIs instead of screen scraping.
MX sells to financial institutions and fintech companies on custom contracts. Consumers meet it through their bank’s app. Competitors include Plaid, Yodlee, Finicity from Mastercard, and Akoya. MX suits institutions that want to offer data-driven money tools.