We are delighted to announce our recent partnership with MX Technologies Inc., a leader in Open Finance, whose API's will enable financial institutions to tailor their digital banking solutions to the unique needs of SMB's.
What does our partnership mean?
Our partnership with MX enables SMB users to securely connect their bank accounts within our Open Cash Management platform for a more complete picture of their financial data. Coupled with our secure connectivity to leading accounting platforms, this partnership gives SMBs a holistic view of accounts receivable and payment activity, as well as a centralized platform to view operating accounts.
This offering enables banks to provide more efficient SMB services; as well as build stronger relationships, identify lending opportunities, and provide a valuable suite of financial workflows. This collaboration with MX also provides us with the opportunity to leverage MX’s Instant Account and ID Verifications for various use cases within our Open Cash Management platform.
Our platform and MX Technologies Inc.
Our industry leading Open Cash Management platform has been built to quickly and easily enable a suite of financial workflows to manage invoice issuance and payment collection, matching and reconciliation of invoice data and payments, supplier payments, and cash flow forecasting. Our platform also manages API connectivity with major accounting packages like QuickBooks and XERO to become the SMB’s consolidated platform for financial management functions.
Through our collaboration with MX Technologies to enable secure data sharing and account connectivity for businesses using BankiFi's platform, financial institutions can leverage MX's APIs to bring account connectivity and data access to a robust suite of digital banking solutions, tailored to the unique needs to the small to medium-sized business owner.
“Our integration with BankiFi enables financial institutions to bring the power of open finance and data-driven insights to the SMB market. Together, BankiFi and MX help eliminate the barriers between banking, accounting and accounts payable/receivable platforms to make it easier for businesses to manage their cash.”
- Brett Allred, Chief Innovation Officer, MX.
Download our latest whitepaper
We recently released our latest whitepaper, entitled, 'Embedded banking but not as you know it.'
Our whitepaper explores how banks must alter their ways of thinking, from purely transactional, to holistic in order to remain the 'front door' or the 'go-to' financial services provider to their SMB customer. Plus, how can this be achieved through the provision of embedded banking solutions - powered by our and MX's technology - that gives SMB's a holistic overview of their financial position and the ability to run their business, all from one place.
Elle Rushby is the Marketing Executive for banking and technology company, BankiFi. With a passion for content creation, copywriting and carving marketing strategies (to name but a few), she is very much enjoying implementing her creativity into the world of BankiFi.