LedgerSync uses a hybrid approach to bank statement aggregation, drawing from two industry-leading data providers — Mastercard and MX — to maximize bank coverage for your clients. Because no single provider supports every financial institution in the US, using both ensures the broadest possible access to bank statements.
Mastercard has the largest bank statement coverage in the US market, supporting approximately 4,000 financial institutions for statement aggregation (SA). This is LedgerSync's primary data source for fetching bank statements.
MX is the only other company in the US that fetches bank statements, covering approximately 1,100 financial institutions. While there is some overlap with Mastercard, MX supports a number of banks that Mastercard does not — making it a valuable complement.
LedgerSync's proprietary connections are primarily focused on check and deposit image fetching, with some additional bank statement coverage. This is accessed through Premium Bank Connections in the app.
Not every bank in the US is supported by Mastercard or MX for statement fetching. By using both providers together, LedgerSync is able to cover a wider range of financial institutions than either provider alone. There will be some overlap — certain banks are supported by both — but the combined coverage ensures that fewer clients fall through the gaps.
MX does not have a public-facing directory. Instead, LedgerSync provides a downloadable Excel file containing the full list of MX-supported institutions.
Contact us at support@ledgersync.com or visit our help center for additional resources.