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Intro to MX Architecture

Our platform is made up of many of distributed services which contribute to our solution to the problem of aggregating, enhancing, and delivering financial data to both end users and your organization.

The platform includes many tools, services, and products made for you such as RESTful web APIs, embeddable browser-based digital money management tools, powerful customer analytics and marketing software, and much more.

How Do We Aggregate Financial Data?​

  • We get account and transaction data from thousands of financial institutions, both large and small. To do that, end users provide their online login credentials for a given financial account such as bank accounts, retirement accounts, and more.
  • We use multiple methods to bring data from those accounts into our system; sometimes we have direct data-sharing connections, sometimes we use third-party data providers with similar capabilities.
  • You can also send your own customers' data to MX using one or more of our APIs, such as MDX Real Time, MDX On Demand, and Batch API.

How Do We Enhance Financial Data?​

  • We analyze every piece of data
  • We assign account types and subtypes like PLAN_401_K, CHECKING, or SAVINGS
  • We put every transaction into one of more than 100 default categories
  • When possible, we assign additional classifiers like is_bill_pay or is_direct_deposit
  • We clean up transaction descriptions so humans can read them; something like DBT CRD 1357 07/22/19 XXXX1357 JCWS RESTAU LEHI UT C#5144 becomes simply JCW's Burgers
  • We add dates, locations, and even provide merchant logos wherever possible
  • If we have enough data (a couple months' worth of transactions), we'll automatically calculate budgets for your end users
  • We can predict future spending based on past data
  • We can even tell you know when end users have financial accounts with competitors and give extensive analytics on how end users use their money, interact with products, or behave financially

We then deliver this enhanced financial data to you and your end users through our API, web interfaces, or even daily change files, depending on the specific needs of the partner. We have a solution for the needs of virtually any partner.

What's AllData Connect?​

AllData Connect is a data source protocol that has the following benefits:

  • Enables access to financial institutions that host their data through Fiserv, enhancing stability and speed.
  • Provides secure, token-based connections that don't require credentials.

It mimics OAuth by navigating users to Fiserv’s connect experience in a new tab.

How's this different than OAuth?

OAuth is always API-based and navigates users to the institution's website.

AllData Connect isn't always API-based, navigates users to Fiserv's connect experience, and sends us a token after authentication.

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Not every AllData Connect connection is API-based. For financial institutions that don't have an API, Fiserv will need to work with them to build one.

For API-only integrations, these connections follow the same flow and process as our OAuth connections.

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