MX and University of Wisconsin Credit Union Partner to Improve Members’ Data Access to Their Favorite Apps and Services |
LEHI, UT, March 11, 2022 /PRNewswire/ — MX, the financial data platform and leader in modern connectivity, today announced a new data access partnership with UW Credit Union, serving University of Wisconsin communities and the first credit union in the United States to implement two-factor online banking login security, now a federal requirement for all financial institutions. The new partnership allows UW Credit Union members to share their financial information and MX-supported services using API token-based technology, removing the need for members to share their credentials. login and their passwords.
“Partnering with leading financial institutions like UW Credit Union to implement open banking APIs gives people greater access and control over their financial data,” said Jane Barratt, Advocacy Manager at MX. “UW Credit Union members will now be able to securely connect to their favorite apps and services in a more secure, convenient and reliable way, using API token-based technology and removing the need for customers to share their login credentials and passwords.
As key members of the Financial Data Exchange (FDX), a nonprofit organization dedicated to unifying the financial industry around a common, interoperable, royalty-free standard for secure access to financial data authorized by users, MX and UW Credit Union are committed to leading the charge for open standards and secure access to financial information.
“We are excited to launch our FDX implementation in partnership with MX,” said Eric Bangerter, vice president of digital technology at UW Credit Union. “Security and convenience are sometimes opposing concepts – and we don’t think they have to be. Our FDX implementation will allow our members easy access to fintech and other fintech products while keeping their passwords private and under their control. We are pleased to be members of the Financial Data Exchange organization and continue to be industry leaders in digital security.”
MX, the financial data platform and leader in modern connectivity, helps organizations around the world connect to financial data around the world and turn raw, unstructured data into their most valuable asset to deliver intelligent financial experiences. and personalized. MX connects over 16,000 financial institutions and fintechs, providing the most reliable and secure data connectivity network in the industry. 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.
About UW Credit Union
For over 90 years, UW Credit Union has been dedicated to providing best-in-class service to its members. This means implementing cutting-edge technology as an enduring commitment to delivering more value to members.
UW Credit Union is a growing, federally insured financial institution and a leading provider of a full range of financial services to University of Wisconsin communities. UW Credit Union’s more than 800 employees serve the financial needs of more than 300,000 members through world-class technology systems and a convenient network of 29 branches and more than 100 ATMs. With assets exceeding $4.8 billion, UW Credit Union is ranked among the nation’s leading credit unions. Founded 90 years ago by members of the University of Wisconsin faculty and staff, UW Credit Union continues to operate as a member-owned, nonprofit financial cooperative with locations throughout the Madison, Milwaukee, Stevens Point, Green Bay, oshkosh, Living Water and The Crosse areas.
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