Kinly, a neobank built to meet the financial services needs of black Americans, used open finance fintech MX for its financial data aggregation and enhancement solutions.
Neobank says it will leverage clean data and personalized financial alerts from MX to help black communities in America close the wealth gap and build prosperity.
Kinly focuses on improving financial outcomes through financial education, savings and wealth building, early access to paychecks, overdraft protection up to $100 and providing cash rewards for purchases from black-owned businesses.
Kinly CEO and founder Donald Hawkins says both firms share a passion for diversity. “MX’s open finance APIs will help fuel our mission to serve and improve the financial livelihoods of our broad community,” says Hawkins.
MX combines open financial APIs with enhanced financial data to verify account opening, money flow, download and other use cases.
“Working closely with Kinly to help improve data and personalized financial advice for the black community aligns perfectly with our mission to empower the world to be financially strong,” said Brett Allred, Chief Product Officer at MX.