SILICON SLOPES, Utah, Sept. 12, 2016 /PRNewswire/ -- MX became the first six-time Best of Show winner at Finovate, a demo-based conference aimed at helping financial services brands identify the most innovative financial technology companies. Finovate held its 10th anniversary show Sept 8-9 in New York City, drawing over 1600 attendees. On the basis of demo quality and the potential impact of its innovation, audience members selected MX as one of six winners, joining AutoGravity, Backbase, Clinc, Swych and Trusona.
At Finovate MX demoed its superior transaction cleansing, categorization and classification capabilities, cash flow — a first of its kind visualization allowing users to project their cash availability based on MX's intelligent recurring transaction identification system — and PowerSwitch. PowerSwitch is a transformational offering enabling financial institutions to switch recurring payments — e.g. Amazon, Netflix — from a competitor's credit card to their own, increasing share of wallet. This allows users to earn rewards points while drastically improving the FI's ability to capture interchange revenue.
"This changes everything when it comes to the merchant card on file and the default payment for millions and millions of users," said MX Founder & CEO Ryan Caldwell. "MX is there to make sure you're on the right side of that wave."
During 2016 MX achieved several additional milestones. On September 7 the company announced that it had partnered with NCR Corporation, bringing 471 new financial institutions and 3.5 million more users to its platform. MX now works with over 1,000 financial institutions and has grown its user base fivefold in the last year.
"Finovate has been a wonderful springboard for MX, allowing us to highlight groundbreaking technologies and ultimately partner with leading financial services companies," said Caldwell. "To better serve end users everywhere, MX will increasingly empower financial institutions and the fintech world to be able to easily collect, refine, present and act on financial data."
MX is the world leader in unified financial data, enabling financial institutions and fintech providers to collect, refine, and present actionable data that empowers the world to become financially strong.
Founded in 2010, MX is the fastest growing fintech provider, partnering with more than 1,000 financial institutions and 35 digital banking providers.
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MX Public Relations
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