What is Yodlee Used For?

As a global leader in financial data aggregation and open finance, Yodlee powers the banking, wealth management, and payment tools that help consumers live better financial lives. Leveraging data from over 19,000 data sources, Yodlee enables banks, lenders, and financial technology companies to create personalized digital experiences, release innovative solutions, and make strategic business decisions faster.

Yodlee’s platform supports financial institutions and consumers in numerous ways, including:

Viewing bank, credit card, and investment accounts in one place
Monitoring savings, spending, and debt
Receiving on demand account alerts
Analyzing cash flow and net worth
Improving personal financial management
Enabling secure account verification
Using alternative credit data for lending decisions

Learn more about our commitment to empowering both our clients and their customers.

Yodlee Capabilities

Yodlee offers financial institutions comprehensive data-driven solutions, including data aggregation, account verification, on demand insights on cash flow, personal financial management (PFM) tools, payment enablement, and alternative credit data services.

Open Finance Connectivity

Yodlee serves as an open finance provider, utilizing consumer-permissioned data to power meaningful and secure financial experiences. Our Open Finance connections provide financial institutions with the tools to build trust while simultaneously driving innovation.

Data Aggregation

With financial data aggregation, Yodlee consolidates information from multiple accounts, creating a unified financial picture for customers. From enabling holistic views of consumer finances to generating insights on spending behaviors, our aggregation solutions power banking, wealth management, and analytics use cases. By delivering high-quality, on demand data, Yodlee equips institutions to provide tailored advice and next-best actions.

Account Verification

In a world of digital finances, securely verifying accounts, ownership, and funds is critical. Yodlee’s Account Verification solution reduces fraud by validating information in real time without requiring micro-deposits. Our technology complies with NACHA rules for secure online payments, helping institutions avoid NSF fees and overdraft risks.

Alternative Credit Data

Yodlee’s cash flow underwriting and alternative credit scoring solutions allow institutions to offer credit products to underbanked consumers. Using cash flow and transaction data, Yodlee provides a comprehensive view of consumer financial behavior, helping lenders make more accurate assessments.

Payment Enablement

Yodlee equips financial institutions with powerful payment enablement tools, offering functionalities like secure account verification, instant payment authorization, and fraud prevention. These capabilities validate seamless, secure transactions for consumers and businesses.

Transaction Data Enrichment

Yodlee’s Transaction Data Enrichment turns raw transaction data into clear, actionable insights. By categorizing and contextualizing ambiguous transactions, financial institutions can better understand customer behavior, while consumers gain clarity around their spending patterns.

Personal Financial Management

Helping consumers achieve financial wellness remains a critical goal for Yodlee. Our PFM solutions analyze broad datasets to deliver personalized financial insights, actionable recommendations, and tools that empower customers to improve their overall financial health.

Wealth Management Solutions

Yodlee supports wealth management services with solutions like asset transfer verification and wealth aggregation. These tools enable firms to deliver optimal experiences for high-value clients, aligning with their strategic goals while ensuring seamless operations.

Who Uses Yodlee?

Yodlee provides comprehensive data solutions across multiple industries, including retail banking, merchants and payment providers, wealth management firms, technology companies, and lenders. More than 1,500 financial institutions and technology companies, including 14 of the top 20 U.S. banks, trust Yodlee to power their financial applications. Major companies leveraging

Yodlee’s data aggregation and financial solutions include:

American Express – Leading global payments network
Chase – One of the largest national banks
PayPal – Global digital payments platform
Empower: Digital wealth management and retirement provider
Yahoo Finance’s My Money – Leading online financial news and tools provider

For over 25 years, Yodlee has empowered institutions to offer transformative services, helping them grow their business and improve financial wellness for customers.

Is Yodlee Safe?

Yes, Yodlee is safe. As a trusted partner in the financial sector, Yodlee takes data protection seriously, employing advanced security protocols to validate consumer information remains secure.

Security Features and Measures:

Strong Security Measures: Yodlee follows a Defense-in-Depth philosophy, applying multiple layers of security across every aspect of data protection. This multilayered approach ensures that even if one safeguard is bypassed, additional defenses are in place to keep data secure.
24/7 Monitoring: Our Security Operations Center continuously monitors data systems to detect and respond to threats in real time.
Regular Independent Audits: Yodlee is frequently reviewed by independent auditors and has undergone numerous comprehensive audits over the past several years.
Industry Guidelines and Regulatory Compliance: Our comprehensive, 3 layers of defense program ensures oversight, supervision, transparency and continuous monitoring to ensure compliance and operational efficiency.
Consumer Identity Protection: Sensitive information is safeguarded against unauthorized access or misuse.
Transparent Data Practices: We focus on responsible data handling that prioritizes our clients' needs.
Incident Response Preparedness: Our rapid response teams address potential security breaches effectively and provide timely notifications when necessary.