Open Finance Firm MX Names PayPal Exec Magats as New CEO

The self-described designers of the largest open finance ecosystem in the world, Utah fintech MX has made a mission of increasing the accessibility of financial data for the betterment of investors and consumers everywhere. Amid a period of unprecedented growth and expansion, the company suffered a major blow when its co-founder Brandon Dewitt passed away earlier this year.

Now, even as it mourns the loss of Dewitt, MX is preparing to move its business into the future with its head held high. And with the promotion of longtime PayPal senior executive and three-year MX vet Jim Magats, it’s believed that the company is better positioned than ever to do so.
In the words of company Founder and Executive Chairman of the Board of Directors Ryan Caldwell, “Jim Magats brings a wealth of experience and knowledge about how to deliver high-impact financial solutions and products for consumers, merchants, and financial organizations, along with a vast network of partners and customers at the world's leading financial institutions and fintechs.”

Caldwell’s words are based on Magats’ remarkable track record in the fintech sphere. Over his 18 years with PayPal, Magats oversaw the company’s global expansion and the development and launch of its merchant-facing products and Venmo consumer payment application.