JPMorgan Introduces New Fees for Fintech Middlemen
A look at the new fees JPMorgan is introducing for fintech middlemen like Plaid and MX.
MX Technologies, founded in 2010 and based in Lehi, Utah, is a prominent fintech company specializing in digital transformation solutions for financial institutions such as banks, credit unions, and fintech partners. The company’s core mission is to empower the world to be financially strong by helping organizations harness and make actionable their financial data to improve both business and consumer outcomes[1][2][3]. MX offers a suite of innovative products that leverage artificial intelligence and machine learning to enhance financial data usability. Its flagship offerings include MX Data Access, an interoperable API platform that enables consumers to connect their financial accounts securely and comprehensively across banks, credit unions, payment providers, and fintech apps. MX Customer Analytics transforms enriched transaction data into actionable insights, helping financial institutions increase deposits, optimize marketing ROI, identify cross-sell opportunities, and reduce customer churn. MX Financial Insights delivers personalized, embedded guidance to consumers, such as spend comparisons and savings opportunities, enhancing customer engagement and retention[2]. The company has earned recognition as one of the top financial technology companies in 2023 and 2024, reflecting its leadership and innovation in banking and fintech solutions[2]. MX’s client roster includes notable institutions like Ally, BBVA, and BECU, underscoring its broad acceptance and impact in the financial services sector[1]. MX emphasizes purposeful contribution, aiming to advance humankind through financial empowerment and data-driven solutions. It prioritizes security and compliance in safeguarding sensitive financial data, aligning with its values of accountability and execution[3]. In summary, MX Technologies stands out as a leading digital transformation platform in fintech, distinguished by its comprehensive data connectivity, advanced analytics, and commitment to improving financial health for institutions and consumers alike. Its innovative approach continues to shape the future of digital banking experiences.
A look at the new fees JPMorgan is introducing for fintech middlemen like Plaid and MX.