Rize and MX Partner to Provide Embedded Finance APIs for Fintechs

On February 25, 2022, Rize and MX announced a partnership combining their respective platforms to serve fintechs and neobanks building embedded financial products. Rize contributes its embedded banking infrastructure, which provides BaaS APIs for account opening, compliance, and banking operations through its sponsor bank relationships. MX brings its financial data connectivity platform, offering enriched transaction data, account aggregation, and analytics capabilities.

Together, the integrated solution allows fintech developers to access banking services and data insights through a more unified API layer, reducing the need to stitch together multiple vendors. The partnership is aimed at accelerating time-to-market for neobanks and fintech startups that need both core banking functionality and robust data capabilities. Financial terms of the partnership were not disclosed.

The collaboration reflects a broader industry trend of BaaS providers forming alliances with data platforms to offer more comprehensive embedded finance toolkits.