MX Technologies announced today that it signed a multi-year deal to provide data aggregation capabilities to USAA, allowing the financial services company to offer additional money management services to its members in the U.S. military community.
USAA will use MX's suite of products to provide its 11.4 million members with improved insight into their personal financial health, empowering them to make better decisions about spending, saving and investing. In addition, the advanced analytics capability built into the MX platform will enhance USAA's ability to proactively identify and offer personalized advice and products based on each member's unique needs and life stage.
Exact terms of the deal were not disclosed. It follows a May 2015 investment by USAA that made USAA one of MX's early investors. Since then, USAA has been working with MX on data testing and innovation planning, culminating in the deal announced today.
"USAA is widely recognized as one of the most innovative banks in the world and we are honored to have them recognize and select us," said Ryan Caldwell, Founder and CEO of MX. "Both teams are on a mission to promote and provide individuals with critical digital offerings necessary for financial education and well-being. We're thrilled to bring our platform to millions of individuals and families through USAA."