October 5, 2011
Yodlee, Inc . enhanced its Personalized Finance Platform and demonstrated its new FinApps application market at last month’s FinovateFall conference. The combination will enable financial institutions to provide customers with a cross-channel money management experience, personalized for each individual, the company said.
“Outside of financial services, the internet has always been about personalization and convenience; the ability to search, shop, and communicate anywhere, anytime, on demand. Financial services have historically been different, but they shouldn't be,” says Peter Hazlehurst, chief product officer at Yodlee. “The Yodlee Personalized Finance Platform and FinApp marketplace mainstreams the delivery of financial services, bringing them up to speed with the rest of the digital world. How does that appear? Differently for everyone—that is, highly customized, highly dynamic, and able to grow and change over time for every user.”
Yodlee FinApps sit on the Yodlee Platform, used to power online banking services, and offer value-added tools for consumers, including specialized money management, tax preparation, debt analysis, goal planning, ID protection, credit monitoring, and more. These FinApps help financial institutions deliver a more dynamic and personalized online financial management experience without having to reinvent the technology infrastructure or integrate with hundreds of different services, the company said.
For consumers, it gives them the kind of personalized, real-time, needs-based experience they have to expect from other internet experiences, like shopping and communicating.