- MX has appointed Jim Magats as CEO, changing Interim CEO Shane Evans.
- Magats involves MX after spending 18 years as a senior govt at PayPal, the place he specialised in open finance.
- Evans will proceed to function a senior advisor.
Open finance fintech MX named Jim Magats CEO this week.
The information comes after firm Founder and former CEO Ryan Caldwell stepped down at the start of the yr, appointing Shane Evans as Interim CEO. After the transition, Caldwell stepped into a brand new position as Govt Chair to spend extra time with household and deal with his daughter’s well being restoration.
“Jim Magats brings a wealth of expertise and data about how you can ship high-impact monetary options and merchandise for customers, retailers, and monetary organizations, together with an unlimited community of companions and prospects on the world’s main monetary establishments and fintechs,” stated Caldwell. “We have now super confidence in Jim’s capability to guide the group by the following part of our progress in establishing our management within the open finance financial system, serving to organizations of all sizes entry and act on monetary knowledge to enhance buyer outcomes and develop their companies.”
Magats involves MX after spending 18 years as a senior govt at PayPal. Most just lately, he served as the corporate’s Senior Vice President for Omni Funds Options the place he was charged with overseeing the corporate’s open banking technique and partnership community of greater than 150 monetary establishments and networks.
The appointment is strategic for MX, which has spent the previous few years positioning itself as a frontrunner within the open finance area, due to Magats’ expertise in open finance. Whereas at PayPal, he labored with regulators in Europe serving to to create PSD2 banking requirements. He additionally frolicked constructing PayPal’s open, safe API capabilities to facilitate digital funds.
“Monetary knowledge is the lifeblood of a linked financial system, and no person helps organizations entry and act on monetary knowledge higher than MX. Our alternative to make monetary knowledge accessible and actionable is world, extends throughout verticals, and has the potential to make a constructive distinction within the lives of billions of individuals,” stated Magats. “After 18 superb years at PayPal, I’m extremely excited to hitch MX, an organization on a mission to construct the open finance financial system and empower the world to be financially sturdy. We’re going to deepen and prolong our partnerships with monetary establishments and fintechs to gasoline the following wave of innovation whereas fostering higher participation within the world financial system by new merchandise, use circumstances, and companies.”
Throughout his seven-month tenure as Interim CEO, Evans noticed the corporate by the tragic passing of firm Cofounder Brandon Dewitt. Evans, who joined MX in 2019 as Chief Income Officer, will proceed to function a senior advisor.
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