MX names new CTO from PayPal

US-based Open Finance fintech MX Technologies has appointed former PayPal executive Wes Hummel as its new chief technology officer, following the hire of Jim Magats as CEO from PayPal last month.

Hummel spent more than 14 years at PayPal, most recently as vice president, site reliability and cloud engineering, with responsibility for creating the company’s infrastructure and operations vision and strategic direction.

In his new role at MX, Hummel will oversee the engineering and information security teams, reporting to CEO Magats, whose role took effect on 17 August.

Wes Hummel, chief technology officer, MX

“Wes Hummel brings a tremendous amount of experience building and leading high-impact engineering teams at the world’s leading technology and fintech companies,” said Magats.

“I’ve worked alongside Wes for more than a decade developing financial products that deliver better outcomes for businesses and consumers. He is a proven technology leader with a passion for people development and fostering strong cultures that execute at the highest level.”

Prior to joining PayPal, Hummel worked for eight years as a software engineer at Clarity Communications Systems and spent five years at Motorola, where he was focused on creating internal tools to increase software reliability and availability.

Hummel added: “I am thrilled to be joining Jim and the entire MX team in building the infrastructure to power the Open Finance economy and bringing together financial institutions and fintechs to drive better customer outcomes and experiences.”

MX, which is based in Utah, is building an Open Finance ecosystem, combining trusted Open Finance APIs with financial data to securely connect to and verify data for hundreds of use cases, including account opening, money movement, and underwriting.