As credit card fraud, product scams, and identity theft continue to grow exponentially, consumers are increasingly concerned about protecting their money and their identities from fraud and misuse.

Leveraging user permissioned Envestnet | Yodlee transaction data, developers can help consumers safeguard their credit, their savings, and everything they’ve worked so hard to attain. From apps that alert consumers of possible scams and fraudulent charges, to solutions that notify users of billing errors and hidden fees, the opportunity to innovate in this space is limitless.

Build to Disrupt

Identity Theft Protection

Leverage consumer permissioned transactional data to determine if an account has been compromised and protect your users from identify theft.

Account Monitoring and Alerting

Continuously monitor credit card and debit card transactions for anomalies in transactional patterns to detect and immediately notify your users of fraudulent transactions.

Billing Error Identification

Flag merchants on your users’ credit card and debit card transactions that charge consumers on a recurring basis for products or services they've either forgotten about or they didn't know they were requesting.

When Wealthsimple needed a way to improve our onboarding process for new clients, we turned to the fully RESTful Envestnet® | Yodlee® Aggregation API. This product integration helps to streamline the account opening process by securely verifying accounts in seconds, reducing fraud, risk and abandonment, and enabling clients to add accounts quickly with Envestnet | Yodlee FastLink.

Karney Li,
VP of Engineering, Wealthsimple

Why Envestnet | Yodlee

Industry Leading Depth and Breadth of Data

Envestnet | Yodlee provides comprehensive financial data across retail banking, credit, and wealth management, made possible through the massive scale of our data acquisition platform and extensive expertise in data cleansing and enrichment. With over 15,500 global data sources, hundreds of account types (including 401k holdings and investment options), and incredible richness of data, we help you build a holistic financial picture of your users and maximize the scope and number of clients that you can serve.

Transactional Data Enrichment

Envestnet | Yodlee Transaction Data Enrichment translates raw transaction data into clear, easy-to-read information. Consumers not only see a clear merchant name, date, and amount, they also get additional context—including a simple description of the transaction, transaction category, and geo-location. The clarified data can be used to understand a customer’s spending and saving habits, payment preferences, share of wallet spending, and even what financial services are best suited for that specific customer.

User Permissioned Data for Reduced Risk

Consumer consent is the overarching enabler of any permissioned data system.Financial data acquired through user permission directly from the data source’s consumer-facing services is the best mechanism to ensure the authenticity and accuracy of the financial information today. Envestnet | Yodlee Financial Data Platform securely gathers such data globally, at scale, using credentials as well as emerging standards for consumer-authorized permission delegation.

Speed and Simplicity

Envestnet | Yodlee’s ongoing platform investment hides the cost and complexity of daily data aggregation to provide a unified view into heterogeneous bank data so you can get to market quickly and easily. Daily data updates and 24x7 operational monitoring give you peace of mind so you can focus on building innovative apps.