This is a guest post authored by “Tex” Pomeroy. He is a Tokyo-based writer specializing in ICT and high technology.
On Friday, Tokyo-based Digital Garage invested in MX Technologies (MX), a provider of Digital Money Management and omnichannel banking solutions for their online banking, mobile banking and financial institution partners. The investment was completed through the Japanese firm’s investment/incubation subsidiary DG Incubation (DGI). MX is a five-time winner of the Best of Show award at Finovate, one of the largest U.S. conferences for financial technology (FinTech) startups. Since June of 2010, MX has grown to become a major entity in the U.S. recently, with over 500 financial institution clients now.
MX offers a host of omnichannel banking solutions for banks and other financial institutions, giving its partners the power to provide their account holders with a software that works across virtually any device or OS including smartphones, tablets and desktops. These tools can be configured in virtually any way to match each bank’s unique offerings, achieving an intuitive user interface for account holders. MX’s solution set also provides banks with powerful analytics tools, allowing them to view and manage their data like never before. Banks can use it to target appropriate offers and ads to users through the MX-powered interface.
DGI has seen value-added services that MX provides to its customers, and expects the company to continue growing in the U.S. FinTech market. Additionally, DGI believes that the Japan market is ripe for bank-facing B2B and omnichannel banking solutions, leading to the investment in MX. The Digital Garage group is currently working with MX to map out ways to help the company grow in the Japan market, including working with domestic financial institutions, while supporting other expansion activities.
Through this investment and collaborative partnership, MX and DGI aim to expand the company’s services, to provide end users with powerful tools.
MX was established in March, 2010 and is headquartered in Utah. It helps financial institutions provide their account holders with cross-platform, versatile Digital Money Management and omnichannel banking tools.
The MX platform comprises the following 5 technologies: Helios, WideNet, Nexus, Insight and Target:
- Helios, WideNet, Nexus: Core Services
These three key technologies power the tool at the core of the MX experience. These products enable their partners to offer an immersive DMM experience across virtually all devices and operating systems, enabling handling of transaction information from virtually every source. For end users, these tools provide unparalleled functionality and allow for all account information to be viewed as well as manipulated across all devices.
- Insight, Target: Data Analysis and Advertising Solutions
These services make it possible for banks to quickly and easily understand everything about their clients, to provide appropriate solutions faster and more comprehensively. Additionally, this enhanced level of insight allows banks to target only the most appropriate customers with the right advertisements in addition to offering them over various channels, including the core MX interface.