MX, the leader in modern connectivity and data enhancement for financial institutions, today announced it is partnering with Moov Financial, the developer-first payments platform, to provide instant account verification (IAV) and money movement to fintechs and companies of all sizes.
Moov’s technology allows platforms, marketplaces, and software companies to quickly embed payment functionality into their software to accept, store, and disburse money seamlessly. Moov and MX’s offering includes an attractive pricing model for startup fintechs and SaaS companies looking for a complete turnkey solution.
The combined solution between MX and Moov provides faster, more secure and reliable IAV, resulting in an improved money experience for customers who are adding banking and payment functionality to their solutions, especially those trying to modernize their technology or switch over from legacy products. Moov has quickly grown to address one of the significant remaining hurdles for fintechs and their unique use cases — complete optionality and control over the API without having to worry about security, risk, or compliance.
“Whether you think of yourself as a fintech or not, every modern company is seeking a way to automate its process to accept, store, and disburse money,” said Wade Arnold, CEO of Moov. “Developers want the best user experience possible for their application. MX’s ability to provide fast IAV makes the payment experience swift and more seamless than it would have been without the joint solution.”
“Moov is transforming the way fintechs enable account verification, money movement, and ACH payments through APIs,” said Brandon Dewitt, Cofounder and CTO of MX. “We align with their mission to help fintechs and organizations focus on building amazing new experiences. Fintechs like Moov are a big reason why a massive digital shift is happening across the banking industry."
MX and Moov’s efforts help organizations automate the Money Experience by connecting accounts at nearly any financial institution in the United States for seamless, low-cost, and low-risk money movement.
“MX’s ability to provide real-time balance inquiry throughout its vast network before a transaction drastically decreases the risk of a failed payment,” said Arnold. “With Moov, MX customers can leverage their existing accounts for payments without requiring users to re-authenticate or enroll, making money movement a simple addition to their experience.”