Mobile technology has fueled commerce in a way that was inconceivable ten years ago. Consumers now expect that they will be able to access and transfer their money – anywhere, anytime, on any device.
Envestnet | Yodlee brings global financial data together so you can combine it in powerful ways to deliver personalized and dynamic payment applications that delight consumers. With our API offering access to detailed financial data and insights available from over 15,500 global data sources, you have the perfect foundation for any digital banking or money management system, application, or service.
Build to Disrupt
Enable users to set up payments with just their online banking credentials – instead of requiring them to look up their account and routing numbers – and reduce abandonment in the onboarding process.
Account Verification for Deposits
Quickly confirm end-user account access and account status when depositing to a new account in order to reduce risk and ensure transaction success. For example, allow lending institutions to avoid lengthy procedures by enabling them to instantly verify account ownership and trigger loan disbursements into a borrower's account.
Account Verification for Withdrawals
Verify the current balance of the source account prior to initiating a funds transfer from it in order to avoid delays and potentially costly non-sufficient funds (NSF) charges. Alternatively, use Yodlee account verification to facilitate initial setup of a funding account for a loyalty program that is able to offer lower prices through savings that come from avoiding high transaction cost credit card payments and instead leveraging low cost ACH transfers.
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.
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.
Streamlined Customer Onboarding
The complexity of supporting numerous bank authentication models and getting customers on-boarded easily and quickly can be overwhelming. Envestnet | Yodlee Fastlink provides a simple and effective way to onboard, permission, and authenticate your users and their accounts across thousands of financial institutions, minimize customer abandonment, and maximize market traction. Developers can also customize FastLink for an integrated look and feel.
Innovative and Proven Data Platform
As a pioneer in financial data aggregation, the Envestnet | Yodlee has fueled innovation in online banking and financial data management for over 17 years and built the enterprise grade Financial Data Platform trusted by leading brands. Envestnet | Yodlee provides bank-level security, 79 issued patents, best-in-class data from over 15,500 global data sources, and formal agreements with leading financial institutions for responsible and secure management and exchange of data.