A

Accessor

An accessor is an object on the MX platform. It represents a partner organization that accesses one or more MX products. Accessors are the highest level in the MX hierarchy. Learn more.

Account

An account is an object on the MX platform that represents individual financial accounts of some kind: a checking account, a mortgage, a retirement account, etc. Each account belongs to just one member. Learn more.

Aggregation

A method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. See Account Aggregation Overview

Aggregator

A company that provides account aggregation services within the industry. Examples include Finicity, Flinks, CashEdge, and Yodlee.

Analytics Suite

An MX product offering a range of dashboards and charts that show customer financial data. Also known as MXanalytics. This product is not currently available.

AOV

Account Owner Verification (AOV), also known as Identity Verification (IDV), verifies the identifying information associated with an end user’s demand deposit account, such as first and last name, street address, phone number, and email address. Account Owner Verification does not move money between accounts but may be used as a verification step before moving money with systems such as the automated clearing house.

B

Batch API

An MX API for sending large volumes of data all at once. 

Business Data Enhancement

An MX product offering transaction data enhancement geared toward businesses with specialized categories, descriptions, and classifications. See also: MXdata.

C

Client

A client is an object on the MX platform that represents an organization contracted with MX to use its services. Clients belong to an accessor object and are the second level in the MX hierarchy. Learn more.

Client Dashboard

The Client Dashboard is your development and management portal to access and control your MX product integration. Use the dashboard to manage your API keys, whitelist your IP addresses, manage employee access, and more. Find the dashboard here. See also the Client Dashboard Overview.

Connect Widget

A ready-made and embeddable application that your users interact with to connect their accounts to the MX platform. Learn more.

D

Data Access

An open finance API platform built on the latest OAuth and Financial Data Exchange (FDX) API standards. It provides tools to manage your API, for consumers to grant, modify, and revoke access to their financial data, and for third-party developers to code up to the API.

Data Enhancement

The cleansing, categorizing, and classifying of raw financial data. See also MXdata, Business Data Enhancement, and Retail Data Enhancement.

F

FDX

Financial Data Exchange. A non-profit industry standards body operating in the US and Canada that is dedicated to unifying the financial services ecosystem around a common, interoperable and royalty-free technical standard for user-permissioned financial data sharing, aptly named the FDX API. Data Access is built to FDX API standards.

Financial Feed

An MX product that shows users financial insights in a social media-like feed. Falls underneath the MXinsights product umbrella. See Financial Feed Overview.

FinStrong

An MX product that offers a financial education and wellness program. Also known as MXwellness. This product is not currently available for purchase. See FinStrong Overview.

Fintech

A portmanteau of finance and technology. Usually refers to innovative companies looking to disrupt traditional financial services.

G

GUID

A Globally Unique Identifier. On the MX platform, GUIDs are defined by MX.

H

Helios

An MX product that offers mobile money management. This product is now known as Mobile Banking.

I

IAV

Instant Account Verification (IAV) verifies an end user’s account and routing number for demand deposit accounts. IAV does not move money between accounts but may be used as a verification step before moving money with systems such as the automated clearing house.

IDV

Identity Verification (IDV), also known as Account Owner Verification (AOV), verifies the identifying information associated with an end user’s demand deposit account, such as first and last name, street address, phone number, and email address. Account Owner Verification does not move money between accounts but may be used as a verification step before moving money with systems such as the automated clearing house.

Institution

An institution is an object on the MX platform that represents a financial institution such as Chase or Wells Fargo. A real-world financial institution may have several different institution objects on the MX platform, for example, when the mortgage division of a bank uses a different system than the everyday banking division. Learn more.

J

Job

The process of executing the requested tasks of any given member. Types of jobs that can be requested include verification, balance, history, identity, statements, and more.

M

Marketing Hub

An MX product used to create targeted marketing campaigns to send to end users. Previously called Target. This product is not currently available.

MDX

MDX (MX Data Exchange) is MX’s proprietary specification for the exchange of data between MX and our partners. There are 2 APIs built around the MDX specification: Real Time and On Demand.

Member

A member is an object on the MX platform that represents a connection between a user and an institution. While not the highest level of the MX Hierarchy, it is perhaps the most important. See What is a Member?

Within the MX platform, a member is not the same as a member of a financial institution. MX uses the terms user or users to refer to a financial institution's “member” or “members.”

Microdeposits

Microdeposits are two small amounts deposited into an account used to verify an end user’s demand deposit account and routing number. After the amounts are deposited, the end user then verifies the exact amounts deposited.

MoneyMap

An MX product offering money management visualizations that can be integrated into clients' online and mobile banking offerings. Examples include spending, budgets, trends, debts, and net worth. Now known as MXpfm, formerly known as Digital Money Management (DMM).

MX

MX is an open finance company that helps organizations securely connect to the financial ecosystem and turn raw, unstructured data into usable insights.

MXanalytics

An MX product offering a range of dashboards and charts that show customer financial data. Formerly known as Analytics Suite. This product is not currently available.

MXapi

MXapi is a grouping of open finance APIs that connect partners to the MX Platform to deliver fast, reliable, and secure connections to enhance, aggregate, and verify financial data. All of MX’s APIs are built around a standard REST architecture. See MXapi Overview.

MXdata

An MX product that offers the cleansing, categorizing, and classifying of raw financial data. Includes Retail and Business Data Enhancement.

MXinsights

MX product platform that includes all of our financial experience products. Products underneath this umbrella include MXpfm, MXmobile, Financial Feed, and MXwellness.

MXpfm

An MX product offering money management visualizations that can be integrated into clients' online and mobile banking offerings. Examples include spending, budgets, trends, debts, and net worth. Formerly known as MoneyMap. Falls underneath the MXinsights product umbrella.

MXwellness

An MX product offering a financial education and wellness program. Also known as FinStrong. This product is not currently available.

N

Nexus API

An MX API that gives partners access to the data and calculations that power MXpfm’s widgets (Transactions, Budgets, Spending, etc.) to create their own UI. Partners can also use data obtained from Nexus for analytics.

O

OAuth

Open Authorization (OAuth) is an open standard for access delegation, commonly used as a way for Internet users to grant websites or applications access to their information on other websites without giving them the passwords.

Open Banking

An industry term that refers to the ability to access and act on banking data easily and securely.

Open Finance

An industry term that refers to the ability to access and act on financial data easily and securely. Open Finance is broader than Open Banking and goes beyond the scope of traditional banking.

P

PFM

PFM stands for Personal Financial Management and refers to the tools people use to manage their finances. See MXpfm.

Platform API

An MX API designed to make aggregating and enhancing financial data easy and reliable. Platform API is designed to make aggregating and enhancing financial data easy and reliable. It can seamlessly connect your app or website to tens of thousands of financial institutions.

Pulse

An MX product that uses AI and machine learning to generate insights into end users' finances. Now known as Financial Feed under the MXinsights product umbrella.

R

Reporting API

An MX API that allows a partner to get a snapshot of what happened yesterday, including users, members, and accounts that were updated, added, or deleted, for all users on their platform.

REST Architecture

Representational State Transfer (REST) architecture is a protocol for developing APIs. All MX APIs use REST architecture.

Retail Data Enhancement

An MX product offering enhancement of end-user transaction data. Data is enhanced by being categorized, given a cleansed, human-readable description, and possibly assigned classifications, merchants, or merchant locations.

S

Sherlock API

An MX API that makes MX’s powerful categorization, cleansing, and classification services available to partners without storing any information.

SSO

Single Sign On

SSO API

An MX API used to authenticate users on the MX platform, obtain a URL to open desktop and mobile widgets, and obtain an API token to open a Nexus API session.

T

Target

A former MX product that helped build targeted marketing campaigns. See MXanalytics.

Transaction

A transaction is an object on the MX platform that represents any instance of money moving in or out of an account. Transactions can be anything from a credit card purchase to a payroll deposit. Each transaction belongs to only one account object. Learn more.

U

User

A user is an object on the MX platform that represents the end-user accessing the platform via your application. Learn more.

User_id

An object on the MX platform that is the unique, partner-defined identifier for the user associated with a particular account.

V

Verification

The process of verifying an end user's information. See also IAV IDV and AOV.

W

Webhooks

An automated message alert sent from MX when a specific event occurs. These are HTTPS POST requests made to a service specified and hosted by the partner. See Creating and Managing Webhooks.

Whitelisting

The process of submitting your IP address to MX so we can ensure API calls are coming from secure approved sources. See Whitelisting IP Addresses.

Widget

A web-based MX app, usually limited to a single function or service and often referred to within MXpfm, MXmobile, and the Connect widget.