Two-Time Top-Tier Winner Array Expands Portfolio by Acquiring Former Platform Companion MoneyKit
In a move to enhance its embedded software platform, Array, a New York-based company, has announced the acquisition of MoneyKit, a data aggregation specialist renowned for its trusted financial connectivity infrastructure. MoneyKit made its debut at our platform in Fall 2024, showcasing the MoneyKit Connect solution.
MoneyKit's expertise in data aggregation and financial connectivity will be integrated into Array's platform, enabling Array's clients—fintechs, financial institutions, and digital brands—to offer more dynamic and personalized financial experiences. These experiences include embedded credit monitoring, streamlined access to financial data, and personalized credit insights, among others.
The MoneyKit Connect connection goes to the best possible underlying aggregator, ensuring deeper, privacy-first, and real-time financial data aggregation. This deeper connectivity will facilitate more dynamic customer experiences, including intelligent subscription management and account-level decisioning.
The merger also unites Array's embeddable financial security features with MoneyKit’s secure financial connectivity, resulting in enhanced privacy and smarter security capabilities. Array's clients will benefit from faster time-to-market and embedded delivery, unlocking new revenue and engagement opportunities.
MoneyKit was launched in 2021 by the serial founders who started both Cash App and Quovo. The acquisition aims to enable Array's customers to benefit from deeper connectivity, improving their fintech offerings significantly.
Array's platform, which offers a variety of private-label fintech solutions, has won our platform's Best of Show award twice. The Subscription Manager, one of Array's tools, can be embedded in a matter of weeks. Array's anti-identity theft solution, HelloPrivacy, and the intelligent Subscription Manager are additional features that will be available to Array's clients post-acquisition.
MoneyKit's CTO, Michael Del Monte, expressed excitement about joining Array, stating that it's an opportunity to scale their mission and bring new capabilities to the ecosystem. This acquisition accelerates innovation in embedded financial security, enabling Array’s customers to offer more intelligent, personalized, secure, and data-rich fintech services than before.
Photo credit for the article: Markus Spiske on Unsplash.
[1] Deep connectivity: [Link to source] [2] Faster time-to-market and embedded delivery: [Link to source] [3] Consumer-first experiences: [Link to source] [4] Improved financial security components: [Link to source] [5] More dynamic and personalized financial experiences: [Link to source]
The acquisition of MoneyKit by Array will integrate MoneyKit's expertise in data aggregation and financial connectivity into Array's platform, enabling businesses and fintechs to provide more dynamic and personalized financial experiences. With MoneyKit's connection to the best possible underlying aggregator for deeper, privacy-first, and real-time financial data aggregation, this merger will also enhance business operations in the technology sector by providing improved financial security components and enabling faster time-to-market and embedded delivery.
