H&R Block Partners with MX on Spruce(SM) Giving Consumers Transparency About Their Spending
Spruce helps deliver financial inclusion for millions of Americans by providing customers with greater transparency, access, and support to reach their financial goals
MX, the financial data platform and leader in modern connectivity, and H&R Block (NYSE: HRB) promote greater financial inclusion with the launch of the Spruce mobile banking platform. With data enhancement from MX, Spruce empowers consumers with greater transparency into how they spend, save, and manage their money, and support to reach their financial goals. Spruce is issued by MetaBank, N.A.
Financial uncertainty is one of the biggest sources of stress for American families. More than 30% of Americans would struggle to come up with $400 for an unexpected expense, according to a recent Federal Reserve survey. The Spruce mobile banking app is designed to help people who want to be good with money.
“MX’s data will enhance the customer experience of our Spruce mobile banking platform and provide the visibility and insights customers need into their finances,” said Les Whiting, Chief Financial Services Officer, H&R Block. “MX’s data enhancement capabilities are an important feature of the Spruce mobile banking platform. Helping customers see where they are spending their money is one positive step in helping them be better with their money management.”
Spruce combines the best features of leading neobanks and H&R Block’s trusted expertise with MX’s industry-leading data enhancement tools. Powered by MX’s data enhancement, Spruce customers will have a detailed view of their spending history with merchant names and locations so they can immediately see what they purchased, when, and from where.
“H&R Block helps millions of Americans every year with their tax returns. This is the next step and we’re excited to partner with them for the launch of Spruce,” said Nate Gardner, Chief Customer Officer, MX. “MX and H&R Block share a vision of helping customers improve their financial well-being through better tools and greater access to financial data. Spruce brings that vision closer to reality.”
