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Borrowell boosts financial data analysis with MX

Source: MX

MX, the leader in money experience, today announced that Borrowell, Canada’s leading credit education company, has selected MX as part of its effort to bring financial stability to Borrowell’s one million plus users.

A proudly Canadian company with a single goal in mind – to help make financial stability possible for everyone – Borrowell was the first in Canada to offer free credit scores and reports from its partner, Equifax, Canada’s largest credit bureau.

With that goal of great credit in mind, and with 63 percent of Canadians feeling stressed about paying bills due to COVID-19, Borrowell launched a new bill tracking tool called Boost that’s exclusive to the Borrowell app. As a first tool of its kind in Canada to predict upcoming bills, send low balance alerts, and provide cash advances on demand, Boost helps Canadians stay on top of their finances. Borrowell will now use MX’s award-winning data cleansing platform to enhance its analysis of users’ past expenses in order to help them track and manage their financial behavior moving forward.

“By choosing MX, we’re choosing data-driven innovation to help more Canadians pay their bills on time, which in turn will help them build good credit and strengthen their financial health,” said Andrew Graham, Cofounder and CEO of Borrowell. “We share that common vision of financial strength with MX, and through this partnership we are excited to use MX’s platform of clean and enhanced data to help our members stay on top of their finances – needed now more than ever during the current pandemic.”

“Increasing clarity and transparency has been at the core of Borrowell’s philosophy while they pursue their mission to help people make great decisions about credit,” said Nate Gardner, Chief Customer Officer, MX. “With MX, Borrowell is giving its customers greater clarity into how they can become more financially strong as a means to increasing credit strength. It is exactly this kind of innovation, partnership and money experience that MX loves to enable through our powerful data platform.” 

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