Open Finance API provides access to more than 1,000 data sources in accounting, commerce, and payroll, such as QuickBooks, Xero, Shopify, Stripe, and Amazon
LEHI, Utah and TORONTO, April 14, 2022 /PRNewswire/ — MX, the leader in Open Finance, and Boss Insights, a leader in business data aggregation, are partnering to provide small-to-medium-sized businesses (SMB) access to real-time financial business data. This access bridges the data gap between SMBs and their banks — accelerating the speed and accuracy of SMB lending, funding, and payments services so they can spend less time collecting data and more time delighting their customers.
This will help fintechs, private lenders and FIs make faster, more accurate lending, funding and payment decisions.
Fintechs, private lenders, and financial institutions often struggle with reliable and efficient access to data in a world where speed is paramount. Boss Insights provides technology that lets service providers increase the speed to decision, speed to monitor, and the cost savings of financial services for SMBs and commercial businesses.
“Boss Insights shares MX’s view that finances should be simple, useful, and intuitive,” said Keren Moynihan, Chief Executive Officer of Boss Insights. “Together, MX and Boss will empower fintechs, private lenders, and financial institutions with a platform to originate, decide, and monitor the business requests of their SMB and commercial business customers. This will help them make faster, more accurate lending, funding, and payment decisions.”
The partnership between MX and Boss Insights gives SMB owners a 360-degree view of their business customers’ financial health through a single application programming interface (API). The API provides real-time access and integration with accounting, banking, and commerce data from more than 1,000 data sources — such as QuickBooks, Xero, Shopify, Stripe, and Amazon.
“At the 2021 Money Experience Summit, MX announced an expansion of our data offerings to provide solutions for those looking to delight SMBs,” said Don Parker, Executive Vice President of Partnerships, MX. “Today’s partnership with Boss Insights is an important part of that expansion and our ongoing commitment to help small and mid-size businesses achieve better success.”
Through this partnership, Boss Insights can securely and reliably access financial accounts on the MX financial data platform while MX clients gain better, more in-depth financial insights to manage their finances.
MX, the 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 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 and LinkedIn @MX or visit www.mx.com.
About Boss Insights
Boss Insights is an award-winning global leader in open banking, linking fintechs and financial institutions to their SMB clients’ financial accounting, commerce, payroll and tax applications to access real-time data (e.g. QuickBooks, Xero, Stripe, Square, Shopify, Amazon, etc.). Boss Insights provides portals to originate, decision and service fintechs and financial institutions. In an industry that needs speed and access to real-time data, Boss Insights empowers fintechs, private lenders and financial institutions to serve their business customers. For more information, visit www.bossinsights.com.
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