Posts Tagged ‘Yodlee’

Yodlee and Money Dashboard reveal UK consumers’ spending excesses

Tuesday, March 1st, 2011

Yodlee, Inc., the leading provider of online personal financial management (PFM) and revenue-generating payments solutions, and Money Dashboard, the UK’s simple online solution for consumers who struggle to keep track of spending and income, today announced the results of an independent analysis of spending habits of thousands of consumers over the last quarter of 2010.

As the price of fuel continues to skyrocket worldwide and grocery prices creep ever upwards, Yodlee and Money Dashboard found that consumers are spending an average of 40% more on fuel and 9% more on groceries each month than their budget allocation in these categories.

Money Dashboard Founder and CEO Gavin Littlejohn explained, “Unfortunately the trend of day-to-day essentials increasing in price is set to stay for the foreseeable future, and so consumers need to take this into account when planning their monthly budget. Fortunately we can now provide a secure and hassle free way to help consumers to budget and staying in control more easily.”

As people continue to struggle through difficult economic times, more people are clamouring for easy-to-use online personal financial management tools to help them plan and manage expenditures.

“Yodlee has seen a significant increase in demand for comprehensive PFM services, as is evidenced by Money Dashboard’s rapid adoption,” said Jason O’Shaughnessy, Yodlee’s Managing Director, EMEA. “When people are dealing with increased costs for life necessities like food and energy, the need for accurate budgeting becomes even more pronounced, and we’re pleased to provide robust services that have a marked impact on the day-to-day lives of thousands of people. Yodlee is committed to helping our partners to develop the European market place for PFM.”

Powering (PFM) for more than 27 million individuals across the globe, Yodlee combines traditional PFM and payments with the new Yodlee FinApp Center — a financial services application marketplace—to create a personalized and actionable online and mobile money management experience.

With Yodlee 10 and the Yodlee FinApp Center, European banks and financial services providers have the freedom to innovate and deploy solutions quickly so they can engage customers who might otherwise be overwhelmed by the complexity of monitoring and managing accounts for checking, savings, credit, debit, personal loans, and rewards programs. Yodlee 10 also empowers a personalized online and mobile experience, since nothing is more personal, or individual, than a person’s finances.

For more information, visit www.yodlee.com and www.moneydashboard.com or email Lucy Smith.

miiCard announces strategic relationship with Yodlee to deliver digital passports

Thursday, October 28th, 2010

Banking innovation and the fight against Internet fraud moves forward today with digital identity company miiCard’s announcement of a strategic development and distribution relationship with Yodlee, Inc., the leading provider of online and mobile personal finance management (PFM) solutions.

miiCard, a patent pending, global, digital identity solution, is soft launching to the financial services industry in Amsterdam, at Sibos, October 28th. miiCard’s aim is to eradicate the final barrier to global trade in financial service products – the often cumbersome and always time consuming need for offline proof of identity before a financial product can be purchased.

Powered by Yodlee, the miiCard Digital Passport enables consumers to prove “they are who they say they are” online, in real-time; enabling them to buy financial products completely online for the first time, in a fashion that meets Anti-Money Laundering laws, Know Your Customer regulations and the Proceeds of Crime Act standards.

Making the announcement at Sibos where miiCard was invited by SWIFT to present at the Innotribe Challenge, James Varga, miiCard’s Founder explains: “Online authentication has become the holy grail for all financial institutions. Proving online identity is the final barrier to global trade in financial services products; and while consumers fall victim to fraud every day, it is critical that we as an industry address the issue and offer a solution fast, and that’s what miiCard, working with Yodlee, intends to do.”

Every day between 70% and 90% of online financial transactions are abandoned when the customer is asked to complete the transaction offline by taking their driving licence, passport or utility bill into their local bank branch to prove identity.

Varga adds: “The Internet world facilitates anonymity, not trust. Our challenge today when conducting business, fighting fraud and protecting the customer, is to create trust between business and consumer without resorting to physical offline identity validation”.

miiCard will be built on the Yodlee 10™ personal finance platform, the first patented, customizable, web platform for financial services. Yodlee is the leading provider of secure, personalized online and mobile PFM services, powering more than 85% of online PFM users at leading bank and portal sites worldwide.

Joseph Polverari, Chief Marketing and Strategy Officer, Yodlee states: “Safer, more efficient online transactions are in ever increasing demand by financial institutions and consumers alike, presenting a significant opportunity. The miiCard Digital Passport is another terrific example of an innovation on the Yodlee 10 platform that we believe will help bring consumers and financial services providers closer together, in a way that is beneficial to both.”

Owned and managed by the individual, miiCard allows the consumer to track, monitor and so take control of their online identity for the first time. miiCard is free to the consumer and charged to the vendor on a transactional basis.

miiCard introduces the concept of online trust, enabling customers to buy financial products completely online, in a single session, for the very first time. Participating financial services providers can expect improved customer conversion rates, reduced abandonment, lower operational costs and fewer incidents of fraud.

www.miicard.com


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