Aggregation Challenge

MX has been aggregating financial data for 7 years, and we’ve learned from experience how hard it is. On a given day, connections might be down at the aggregator or at the financial institution. In addition, the data might not be complete, or it might not be cleansed properly.

At MX, we are proud of the fact that we manage over 48,000 connections, with multiple connections to each financial institution. This redundancy enables us to select from a variety of routes to give your users the best connectivity possible. We also cleanse the data so it’s useable and accurate (i.e., we don’t label huge volumes of transactions with “miscellaneous”), and we deliver that clean useable data very quickly. In short, we know how important financial aggregation is, and we aim to do it better than anyone else.

But how do you measure aggregation performance?

Because we like a challenge, we stepped up and provided the industry’s first empirical measure of aggregation quality and speed. We aggregated 27 of the most voluminous financial accounts in North America several days a week between January and October of this year and asked two simple questions: “Did it work?” and “How fast did it work?”

A 100% aggregation success rate on each day we tested is represented by a green square, an aggregation rate between 80 and 99% in yellow, and less than 80% in red. In total, we ran the same challenge with MX and several other aggregation providers.

Here’s what we found. We think you will see the difference, and we’re committed to rapidly iterating on these benchmarks so they continue to reflect the real-life situations that financial institutions and leading developers face.

View Results
Learn More about aggregation

Institutions Tested

( * In the list of top 20 insitutions in the US by assets under management)

  • American Express
  • ATB
  • Bank of America *
  • Bank of the West
  • BECU
  • Betterment
  • BNC
  • Capital One
  • Chase *
  • Citi *
  • Discover *
  • Fidelity
  • Fedloan Servicing
  • Granite FCU
  • Mountain America CU
  • Navient
  • Navy Federal CU
  • PayPal
  • PNC
  • Suntrust *
  • TD *
  • UCCU
  • UFCU
  • USAA
  • US Bank *
  • Vanguard
  • Wealthfront

Aggregation success rate

100%

90-99%

80-89%

<80%

MX

Aggregator A

Aggregator B

Aggregator C

Aggregator D

Aggregation Speed in Seconds (Lower is better)

Aggregation Speed in Seconds, Linear Trends - (January to October)