SILICON SLOPES, Utah –MX, a fintech that makes it possible for banks and credit unions to win their competitor's most profitable account holders, announced that Pete Kight, founder and sole CEO of the electronic bill pay pioneer CheckFree, has joined the MX team as a close advisor to MX's founder and CEO, Ryan Caldwell. As a further indication of his commitment to MX and its mission, Kight also joins the board of directors and has made a significant personal investment in the business, according to the company.
Kight brings 34 years of record-breaking industry experience to the MX team. Kight developed CheckFree's industry-shaping electronic financial management tools for business and personal use, acquiring more than 100 patents for innovations in fintech. As a result, Kight catapulted CheckFree to $1 billion in annual revenue and 4,700 associates in nine countries before selling the company to Fiserv in 2007 for $4.5 billion dollars, one of the highest value transactions in fintech history. Kight is using his vast industry experience to amplify the MX trajectory.
"MX picks up where CheckFree left off, driving innovation forward for financial institutions with revolutionary digital solutions," said Kight. "They're moving the industry, and they clearly are the technological leader in the current competitive landscape. Based on the technology in place, and what is currently under development, MX has the potential to be the signal firm that moves the financial services industry fully into the digital age."
At its core, MX is driven to quickly move consumers into understanding and control of their banking lives,” the company said. “This vision is realized by working with digital, online and mobile banking partners and financial institutions using technology that aids in attracting, capturing and advocating for individuals, businesses and investors. The result promotes financial intelligence while driving critical additional revenue for financial institutions.”