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Wednesday, May 22, 2024

MX and Jack Henry Enhance Data Sharing Security

MX’s collaboration with Jack Henry reflects a commitment to creating a smoother, safer experience for consumers at more than 800 financial institutions. By utilizing a platform that promotes interoperability and directly connects with Jack Henry’s secure API, clients can benefit from enhanced data sharing capabilities. This transition is part of Jack Henry’s initiative to replace inbound screen scraping on its Banno Digital Banking Platform, further demonstrating the company’s dedicated effort toward providing a secure and seamless user experience.

Making the shift to direct API connections allows financial institutions to offer enhanced security features that eliminate the need for sharing usernames and passwords. With the additional layer of security, data sharing becomes more manageable, thus reducing the risk for both organizations and consumers while simultaneously safeguarding consumer data. Ben Metz, Chief Digital and Technology Officer at Jack Henry, emphasized the industry’s need to elevate money experiences, highlighting the significance of moving to API connections. Jack Henry’s efforts contribute to the collective goal of improving consumer safety and streamlining their digital interactions.

To ensure an optimal experience for consumers, API connections are strategically designed to enable better privacy, transparency, and streamline the process of connecting financial accounts on the Banno Digital Platform. Furthermore, MX’s API connection provides the opportunity for consumers to securely connect and manage their financial data. When consumers have power over permissioned data sharing, it enables a comprehensive view of their finances, empowering them to make well-informed decisions.

Driven by the goal of enhancing customers’ financial experiences, MX’s Chief Commercial Officer, Partners, Raymond den Hond, expressed excitement in partnering with Jack Henry to promote API connections. This collaboration aims to provide consumers complete control over their financial data, while fostering the adoption of Open Finance in the industry.

Jack Henry is a financial technology company with a focus on creating strong connections between financial institutions and the people and businesses they serve. Committed to collaboration and customer-centricity, Jack Henry seeks to offer clients modern capabilities and seamless integration with leading fintechs. Taking a people-inspired approach to innovation, Jack Henry has supported clients for over 47 years, delivering insight-driven solutions that help create a financial health ecosystem bridging traditional and novel wealth management. For more information on Jack Henry, visit their official website.

MX Technologies, Inc. specializes in facilitating a more profound understanding of financial data for consumers, financial institutions, and fintech companies alike. Its platform grants organizations insight into and verification of account and transaction data, providing valuable information that enables the uncovering of revenue opportunities and improves customer engagement and outcomes. Follow MX on Twitter and LinkedIn or visit their official website for additional information.

For further inquiries, please feel free to reach out to Tom Cook for additional details.

In conclusion, MX and Jack Henry’s collaboration marks an important milestone in improving the financial sector’s data-sharing capabilities. By embracing direct API connections, they contribute to the industry’s ongoing shift towards Open Finance, playing a pivotal role in revolutionizing the future of financial services for consumers everywhere.

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