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This glossary describes key MX concepts, terminology, and products.


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.
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. 
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.
Account Owner Identification (AOI) 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 Identification 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.


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.


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


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.
Data Enhancement Off Platform
Formerly known as Sherlock API. An MX API that makes MX’s powerful categorization, cleansing, and classification services available to partners without storing any information.


Financial Data Exchange. A non-profit industry standards body operating in the US and Canada that's 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 Insights
An MX product that provides the user insights on their finances based on the their cleansed transaction data.
A portmanteau of finance and technology.


A globally unique identifier. On the MX platform, GUIDs are defined by MX.


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


Marketing Hub
An MX product used to create targeted marketing campaigns to send to end users. Previously called Target. This product isn't available.
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.
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's perhaps the most important. Within the MX platform, a member isn't 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 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.
Mobile Banking
An MX product that offers mobile money management.
MX is an open finance company that helps organizations securely connect to the financial ecosystem and turn raw, unstructured data into usable insights.


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. This API isn't available for new integrations. 


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.


Personal Finance Management (PFM)
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.
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.


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.


Single Sign On.
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. This API isn't available for new integrations.


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.


A user is an object on the MX platform that represents the end-user accessing the platform via your application.
An object on the MX platform that's the unique, partner-defined identifier for the user associated with a particular account.


The process of verifying an end user's information.


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.
The process of submitting your IP address to MX so we can ensure API calls are coming from secure approved sources.
A web-based MX app, usually limited to a single function or service and often referred to within Personal Finance Management, Mobile Banking, and the Connect widget.
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