Ahrvo Labs Leverages MX to Transform Identity Verification and Transaction Risk Management

Ahrvo integrates MX connectivity and data solutions to enable financial institutions and payment providers to drive growth and deliver more seamless money experiences

CASPER, Wyoming – March 6, 2024 – Ahrvo Labs, a leading identity, document, and transaction management system provider, today announced it will integrate with MX Technologies, Inc., to enhance its identity and transaction management systems — and streamline onboarding processes for U.S. clients. 

Financial services and payment providers using Ahrvo for Know Your Customer (KYC) and Know Your Business (KYB) processes can further enhance identity verification and reduce transaction risk using MX’s Instant Account Verification (IAV), Account Owner Identification, Account Aggregation, and Data Enhancement solutions. Both consumers and small businesses can quickly and securely connect and verify their account information — while providing access to their comprehensive transaction history spanning up to 24 months. 

Additionally, financial providers utilizing the Ahrvo Labs Portable Identity Gateway will gain enhanced insights into user risk and account balances with consumer-permissioned data that is aggregated and enhanced by MX. This better informs decision-making processes before initiating fund transfers, including push or pull ACH transactions and other transaction types.

This integration not only simplifies the KYC and KYB processes for financial services providers but also ensures the permissioning of more accurate and reliable information. With the integration of MX, financial providers can tap into the financial data intelligence that helps them enhance security, mitigate risk, and help reduce fraud associated with funding wallets, bank accounts, and other financial services. Providers can also use consumers’ transaction histories to improve and inform comprehensive credit and risk underwriting. 

"We are thrilled to partner with MX to enhance identity verification and transaction risk management for our clients," shared Appo Agbamu, Chief Executive Officer, Ahrvo. "By integrating MX's cutting-edge capabilities into our systems, we are enabling payment and banking providers to make more informed decisions while leveraging Ahrvo Labs 20+ identity, document, and transaction management systems to streamline onboarding and client lifecycle management for individuals and businesses in the United States."

”Ahrvo shares MX’s commitment to innovation and excellence across the financial services industry,” added Raymond den Hond, Chief Commercial Officer, Partners, MX. “This strategic partnership enables financial providers to stay ahead of KYC/B requirements and significantly enhances how organizations manage and mitigate identity and transaction risk.” 

For more information, please visit https://ahrvo.com/open-banking/

About Ahrvo Labs

Ahrvo Labs offers businesses cutting-edge payment and compliance solutions that optimize payment and banking processes and ensure regulatory compliance. Our state-of-the-art payment gateway features a single onboarding process that provides access to over 200 leading financial institutions worldwide. With secure global transactions and a commitment to regulatory compliance, our cutting-edge payment and banking gateway is designed to simplify workflows and streamline operations for businesses.

About MX

MX Technologies, Inc. is a leader in actionable intelligence, enabling financial providers and consumers to do more with financial data. MX provides end-to-end solutions for financial institutions and fintechs to connect to, understand, and act on customers’ financial data. To learn more follow us on X and LinkedIn @MX or visit www.mx.com.