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MX Technologies snag $100 million to grow financial data business

Original Content Publication Date: 06/25/2019

Summary

Financial data tech company, MX Technology launched in 2010, is often referred to as the brains behind digital banking and financial services. MX Tech recently acquired $100 million in funding that will allow them to build its customer base, expand its market and innovate new products. Currently, the majority of MX's customers are banks and financial service businesses, but with the new funding the company is hoping that its products can develop to make financial management as easy as possible for individual users.

Key Points

  • MX apps allows clients capabilities such as money management, tracking and budgeting capabilities
  • The driving force behind MX's innovations is easing the wear and tear of financial management on individuals and families
  • One of the objectives of the company with the new funding is to combine all of the company functions into one user-friendly app. 

Discussion Questions

  1. How can this funding be used to carry out plans in outreach, expansion and innovation?
  2. What potential innovations can be made to ensure functionality for individual users?
  3. How is digital banking changing the way we think about money management? 

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