SILICON SLOPES, Utah and TORONTO, Oct. 22, 2020 /PRNewswire/ -- 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."
MX, the leader in money experience, is built on the belief that financial data should be accessible and actionable for all. MX gives your customers a seamless way to move, view, and interact with their money. We call this the Money Experience. Founded in 2010, MX is one of the fastest growing fintech innovators, powering more than 2,000 financial institutions and 43 of the top 50 digital banking providers to improve the financial lives of tens of millions of people worldwide. For more information please visit: www.mx.com.
Borrowell is dedicated to making financial stability possible for everyone. The company offers free credit scores, education, and weekly credit monitoring, as well as innovative digital tools like AI-powered credit coaching and personalized financial product recommendations.
With over one million members, Borrowell is one of largest fintech companies in Canada. Borrowell has won numerous awards, including being named one of the top 100 fintech companies in the world by KPMG, ranking 4th on the Deloitte Technology Fast 50™ list of fastest growing companies in Canada, and making App Annie's list of Breakout Finance Apps for 2019. For more information please visit www.borrowell.com. You can also download the Borrowell mobile app on Android and iOS today.
CONTACT: Tom Cook, [email protected]