OurBanc Goes Live with MX for Mobile Banking and Actionable Financial Health Insights

Online and mobile banking app comes with personalized financial alerts that visualize and surface insights in an engaging, feed-style view to drive engagement

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Jul 01, 2021, 09:03 ET

LEHI, Utah and BOSTON, July 1, 2021 /PRNewswire/ -- MX, the leader in modern connectivity and data enhancement, today announced that OurBanc, a fintech on a mission to dismantle the systemic barriers that America's financial system has traditionally embraced with banking, has gone live on the MX platform for mobile banking. With MX, OurBanc is enhancing its users' ability to view, manage, move and grow their money to improve their financial health—and end the perpetual deterioration of wealth in historically disenfranchised communities.

"We told MX we know banking and finance, but we've never built a fintech platform before and we needed their guidance," said David Dwumah, CEO and Co-founder of OurBanc. "In under two months, with the help of MX, we've been able to go from initial discussions to our app going live with the industry's best digital money management tools."

With MX's industry-leading digital money management—including its data aggregation and data enhancement engine—leading fintechs such as OurBanc can have cleansed, categorized, and augmented financial data for their customers and be equipped with the tools they need to better manage their money.

"One of the major factors that attracts fintechs to MX is our ability to work closely as a partner to get a solution up and running faster than anyone else in the market," said Nate Gardner, Chief Customer Officer, MX. "OurBanc is an example of this kind of partnership—where our shared missions and the core functionality of MX's solutions had OurBanc live with their beta product in a matter of months."

OurBanc is built with the fundamental purpose of creating a fair and equitable relationship between individuals and financial services that enables everyone to thrive financially. Not content to be a 'Black-only' or 'Latinx-only' bank, OurBanc recognizes that America's financial system, with high default rates on student loans and employment discrimination, among other factors, has resulted in a wide racial wealth gap.

Over the coming months, in partnership with MX, OurBanc will continue to expand its offering with exciting new features.

About MX

MX, the leader in modern connectivity and data enhancement, 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 @MX and LinkedIn or visit www.mx.com.

About OurBanc

OurBanc is a financial technology company built with today's economy and our dynamic society in mind. OurBanc recognizes that many Americans are financially unhealthy, with the highest concentration being African Americans, Hispanics, and members of Indigenous communities. The mission of OurBanc is to enhance users' ability to view, manage, move, and grow their money to improve their financial health and end the perpetual deterioration of wealth in the African American, Hispanic, and Indigenous communities. To learn more or join the waitlist visit www.WhyOurBanc.com or follow us on Twitter @WhyOurBanc.

SOURCE MX