Deposits.com Selects MX to Advance the Pace of Financial Inclusion in Underserved Communities
Partnership to reshape banking access for customers and underserved communities by providing easier access, insights, and support to reach financial goals.
LEHI, Utah and DALLAS – February 22, 2022 – MX, the financial data platform and leader in modern connectivity, announced today that Deposits.com, a trailblazing financial technology and customer experience platform that “makes money more awesome,” has chosen MX for account linking, personal financial management, insights, and embedded financial wellness products. This partnership will level the playing field for community banks, credit unions, and community developers seeking financial innovation and inclusion.
“Partnering with MX is transformative in advancing our ongoing mission of financial inclusion for the underbanked and underserved,” said Deposits.com CEO, Joseph Akintolayo. “Our goal is to eliminate the barriers to entry for digital banking, deliver exceptional experiences with money, and reshape the banking access narrative for underserved communities. As a Black founder, I celebrate Black History all year with a passion to ignite our financial futures. Our partnership with MX moves this future into the present.”
According to the FDIC’s How America Banks biennial survey, the average percentage of unbanked minority households is significantly higher than non-minority unbanked households — and as high as 13% and 14% in the Latino/Hispanic and Black American communities. Deposits.com, a member of the fintech equality coalition and African American credit union coalition, empowers community banks, credit unions, and community developers access to compete, without compromise, with national brands in the markets they serve.
“By creating a digital banking experience that will provide accurate, personalized financial advice for Black American and Latino communities, we’re furthering the advancement of financial inclusion, a joint mission of MX and Deposits.com,” said Jane Barratt, Chief Advocacy Officer at MX.
MX 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 for their customers. To learn more, visit: https://www.mx.com/financial-wellness/.
MX, the financial data platform and leader in modern connectivity, 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 or visit www.mx.com.
Deposits.com delivers cutting edge technology and unmatched CX to create the most welcoming home for consumer deposits and payments. Our low-code fintech platform seamlessly blends payments, software, and banking to level the playing field for community banks, credit unions, and community developers looking to deliver exceptional financial services to their members. Unlock the speed and scale necessary to compete with national brands and create a competitive advantage in your market with Deposits.com. To learn more, follow us on LinkedIn Deposits.com or visit www.deposits.com.