Yodlee offers data aggregation and analytics services to financial institutions and fintech companies, helping them collect and organize financial data from various sources. This data is used to provide insights for wealth management and personalized financial advice. Yodlee operates on a subscription model, charging clients for access to its platforms and specialized products like transaction data enrichment. The company's goal is to empower its clients to enhance their services and make informed financial decisions.

Warburg Pincus

Accel

Bank of America

BofA Securities

Envestnet

Sequoia

Data & Analytics

Fintech

Financial Services

Yodlee

Anur joins from Yodlee, the data aggregation and analytics subsidiary of Envestnet, where he served as COO for over five years.

US wealthtech Orion names former Oracle VP Arun Anur as new COO

In November this year, open banking, data aggregation and analytics platform Yodlee, will turn sixteen in Australia. Yodlee launched on Aussie soil in November 2008, initially providing the white label Personal Financial Management application behind ANZ’s budgeting, financial management and investment planning tool – MoneyManager, and the landscape and Yodlee’s impact on Australia’s finance sector has evolved immeasurably ever since.From an industry perspective, Australia’s fintech sector has grown to a sizeable $45 billion; 2017 saw the launch of the Royal Commission into the banking, superannuation and financial services industries – which sparked an overhaul of the finance sector, putting integrity and customer centricity at the heart of everything it did; and in July 2020, the Consumer Data Right (CDR), otherwise known as open banking, launched in Australia. The period has also witnessed the advent of disruptive financial technologies like personal financial management platforms (PFMs), cryptocurrencies, BNPL, alternative lenders and many more.Yodlee’s own local footprint has evolved considerably. After launching as part of ANZ’s Money Manager, Yodlee has supported many key local industry players to develop new innovative tools that help Aussies better understand their finances. Its local product suite has grown to include flagship tools like Credit Accelerator, which leverages alternative lending data to create competitive offers, minimise risk, streamline the loan application process, and increase loan completion; as well as its fully accredited open banking User Interface solution FastLink 4, and Instant Account Verification which verifies financial accounts instantly.Furthermore, Yodlee’s Machine Learning-powered Transactional Data Enrichment (TDE) product means consumers can receive a greater level of clarity into their financial transactions. TDE augments and refines financial transaction data by adding a simple description, merchant name, category, and geolocation in a contextualised manner based on learnings from millions of transactions.In 2021, Yodlee perhaps achieved its most significant local milestone: becoming an Accredited Data Recipient and Intermediary under Australia’s Consumer Data Right (CDR).From screen scraping to open bankingPart of Australia’s move towards an open banking landscape has meant shifting from more traditional, manual screen scraping practices to digitised, API-driven ones

Open Banking, Data Aggregation And Analytics Platform Yodlee Celebrates 16Th Birthday On Australian Soil

The finalists for Australia’s 2024 Finnies fintech business awards have been announced.The Finnies celebrates achievements across the various components of the fintech industry and among the services that support them.This year’s awards drew over 322 entries across 19 categories, creating a shortlist of 154 finalists.The Finnies is judged over two intense rounds involving over 70 experts from across the fintech ecosystem.For the first round, over 30 judges from across the fintech industry scrutinise all entries to create this year’s pool of finalists for each category.From here, a second round of judging will commence and another 40 new judges will pour through the finalists entries to pick one winner for each category.The winners will be announced at Doltone House in Jones Wharf on 6 June 2024.THE FINALISTS:1. BEST WORKPLACE DIVERSITYAssuranceLabBizcapEML PaymentsMYOBNovattiPokitPalTRAction2. EXCELLENCE IN ESTABLISHING GLOBAL MARKET PRESENCEAssuranceLabCake EquityData ZooEzyRemit WorldwideEmployment HeroFinmoLakeba GroupStables3. EXCELLENCE IN INDUSTRY COLLABORATIONS & PARTNERSHIPSAdatree, MogoPlus & Central Murray Credit Union – read herePaydock & Commonwealth Bank – read hereConnectID, Commonwealth Bank, NAB, Westpac & ANZDownsizer and Deposit Power – read hereElemnta and Colonial First State (CFS) – read hereHutly and Real Estate Institute of Victoria (REIV) – read hereHOPE Housing Fund Management and Police BankZepto and OZEDI – read here4. EXCELLENCE IN BUSINESS LENDINGBanjo LoansBizcapKashcadeLeaselabLumi FinanceProspaTYRO PaymentsValiant Finance5. EXCELLENCE IN CONSUMER LENDINGBeforepayBlock EarnerCarClarityDrivaMONEYMENimo IndustriesOwnHomePennant TechnologiesWisr6

The Finalists Of The 2024 Finnies Awards Have Been Announced

HeirWealth, a Sydney-based wealthtech that is on a mission to help high net worth families have better intergenerational conversations about money, has turned on open data technology powered by global financial aggregator Envestnet | Yodlee.The HeirWealth platform provides family investors and their professional advisers with a view of assets and liabilities across 40 different classes, including traditional investments such as shares and property, and non-traditional assets such as collectibles.Including the Envestnet | Yodlee integration, the HeirWealth app has connectivity to 20,000 financial institutions globally, which can automatically aggregate into the wealth registry platform.“This integration allows continuous daily asset valuations for banking and investment products which, when fused with our market data feeds, provides our customers with richer platform experiences,” said Ray Tubman (pictured left), Founder & CEO of HeirWealth.“The HeirWealth platform provides simple yet powerful wealth tracking that allows individuals, families and professional advisers to organise everything together in one place,” continued Tubman.“That includes traditional investments like term deposits, shares and property, as well as alternative investments like private equity, and ‘assets of passion’ like fine wine, antiques and collectibles. You can even upload photos from your phone and leave annotations to capture your family’s story and legacy, so everything is recorded in one central vault, and it’s preserved for future generations,” added Tubman.The HeirWealth app is available directly to individual families and family offices in Australia and the UK. Per HeirWealth, it can also be white-labelled by financial advisers, wealth managers, accountants, lawyers, and other professionals and can add value as a client engagement and retention tool.As a client of global financial aggregator Envestnet | Yodlee, HeirWealth can access open banking data under Australia’s Consumer Data Right (CDR).“I’m excited to see open banking and data aggregation make wealth management easier for Australian families both now and in the future,” said Taner Uzelakcil (pictured right), Director – Enterprise Business Development A/NZ at Envestnet | Yodlee.According to HeirWealth, beyond simplifying wealth tracking in a central hub, the app supports deeper personal relationships, fostering opportunities for meaningful engagement with the next generation.“When my father passed, we had to rely on scraps of paper to discover that he had shares and different bank accounts,” said Tubman.“The forthcoming intergenerational wealth transfer is going to present a lot more challenges. Whether you want to start having those conversations now, or wait till later, centralising information in one secure location like HeirWealth is a great idea,” he added

Heirwealth Turns On Open Banking Technology From Envestnet | Yodlee To Help High Net Worth Families Smooth The Intergenerational Wealth Transfer

Document automation platform Ocrolus announced it has teamed up with financial data aggregation and account verification expert Envestnet | Yodlee this week.

Envestnet | Yodlee Taps Ocrolus for Financial Document Automation

Startupbootcamp Australia (SBC Australia), one of the world’s largest industry-focused accelerators, has appointed Tim Poskitt as its new Managing Director for Fintech in the APAC region.This strategic appointment bolsters SBC Australia’s commitment to nurturing the next generation of digital talent in finance, with a particular focus on sustainability and technological innovation.Poskitt has over 20 years of global experience in financial services, including a decade in fintech inside the APAC region. He will run SBC Australia’s Sustainable Fintech Accelerator Program, which supports an annual cohort of 10 early-stage fintech founders to achieve rapid scale, while also being aligned to one or more of the UN’s Sustainable Development Goals.Trevor Townsend, CEO of Startupbootcamp Australia, welcomed Tim Poskitt to the team, saying, “Tim has extensive experience and wide connections in the financial services industry and is ideally placed to accelerate the growth of the fintech startups in our program. He has a passion to help founders succeed and is dedicated to Startupbootcamp Australia’s mission to empower impactful innovation globally that contributes to Net Zero by 2030.”Poskitt will also work closely with SBC Australia’s investment team to meet the financial objectives of the A$5,000,000 Sustainable Fintech Fund, which supports the program. Over a three-year period, the fund aims to invest in 30 global fintech startups that are dedicated to addressing one of the most pressing issues of our time: driving sustainability through finance.Tim Poskitt shared his enthusiasm for the new role, saying, “I’m extremely excited to be joining the SBC Australia team to spearhead the APAC fintech program and catalyse change for a more sustainable future. I’m loving working with the current cohort and looking forward to receiving expressions of interest for our next round.”The specific investment themes of interest are: Generative AI, Fraud Prevention, Embedded Finance, DeFi & Blockchain, Sustainable Finance, and Financial Services in the MetaVerse.Poskitt was previously the regional head of Envestnet | Yodlee’s operations in APAC and has also held senior roles at illion

Startupbootcamp Expands Fintech Focus In Apac With Tim Poskitt As New Program Managing Director

FIS has debuted a platform that lets its clients’ customers share banking data.The Florida-based global FinTech has signed agreements with data networks Akoya, Envestnet, Yodlee, MX and Plaid to integrate into the FIS Open Access platform, the company said in a Thursday (Feb. 8) news release.This open banking platform, the release said, lets consumers share their financial information with a larger number of third-party financial apps and services.“The shift to Open Banking is accelerating, and last year the Consumer Financial Protection Bureau (CFPB) proposed a Personal Financial Data Rights rule establishing consistent industry standards for consumer data access and protection,” the release said.According to FIS, the platform lets consumers access and share their financial data in “a secure, stream-lined and controlled manner,” letting them work with third-party financial services app providers and control what information is shared and with whom.The platform also gives banks visibility and reporting on where their customers are sharing financial data, which FinTechs they are connecting with and how frequently.“Consumers of all ages are increasingly using third-party apps to manage their finances when they want, and creating a seamless experience for them to do this is crucial for traditional banks and credit unions as they look to retain and grow their customer base,” said Hashim Toussaint, general manager for digital solutions at FIS.“Enabling the world’s adoption of open banking is foundational to our mission to advance how the world pays, banks and invests.”Touissant’s comments on open banking are reflected in recent research by PYMNTS Intelligence that shows growing consumer interest in the concept.“By enabling the sharing of customer financial data between banks and third-party service providers through application programming interfaces (APIs), open banking is reshaping the traditional banking system,” PYMNTS wrote late last year.Open banking boosts consumer payouts in particular, with the research showing that 42% of consumers primarily receive payouts directly to their bank accounts, whether from merchants, service providers or government agencies.“Open banking enables these customers to link their bank accounts directly using their existing logins and receive funds immediately,” PYMNTS wrote. “However, close to half of consumers still receive payouts without a connectivity tool.”

Fis Debuts Interoperable Platform For Sharing Bank Data

In November 2015, Envestnet acquired Yodlee, a provider of data aggregation.

Is Envestnet Inc (ENV) Stock About to Get Hot Tuesday?

Sydney-based Effi, the technology innovator for mortgage brokers, is working with global financial data aggregator Envestnet® | Yodlee ® to deliver open banking apps that make home buying more accessible for Australians.Effi’s new white-label financial tracker tools are purpose-built personal financial management (PFM) apps powered by open banking.The Savings Tracker enables mortgage brokers to understand a borrower’s income and spending habits in real time. Together with the broker, the borrower can establish a deposit savings goal and receive support to achieve it.The Loan Tracker tool goes beyond income and expenditure tracking to allow mortgage brokers to see the current loan balance and predict how future interest rate changes might impact affordability. Brokers get instant alerts on crucial changes, prompting them to reach out to borrowers with timely advice and options. This eliminates the delay and hassle of borrowers emailing bank statements prior to an annual review.As a technology innovator in the mortgage industry, the Effi platform has been purpose-built to leverage fintech solutions that drive efficiency for mortgage brokers in delivering a modern, value-added service.“In the current environment, with rising living costs and interest rates, mortgage brokers play a vital role assisting borrowers to navigate big decisions,” said Mandeep Sodhi, Founder & CEO at Effi. “Loan Tracker helps brokers to support borrowers to take the right steps at the right time, preventing costly mistakes and mortgage stress,” he said.Effi’s Savings Tracker and Loan Tracker tools are enabled by Envestnet® | Yodlee ®, an Accredited Data Recipient authorised by the Australian Competition and Consumer Commission for open banking under the Consumer Data Right (CDR), a national regime that gives consumers the right to request electronic sharing of their bank data with an approved third party to support choice, confidence and convenience.“Increasingly, mortgage brokers are stepping into the role of trusted advisors rather than transaction agents and fintech apps powered by open banking technology are the perfect way to deliver that service at scale,” said Taner Uzelakcil, Director of Business Development A/NZ at Envestnet | Yodlee

Effi Teams Up With Envestnet | Yodlee To Deliver Open Banking Apps That Make Home Ownership Easier

In a win for New Zealand borrowers and lenders, Centrix will be switching on live bank data feeds, powered by global data aggregator Envestnet®| Yodlee®.Centrix is New Zealand’s leading credit bureau, with account payment data and credit information that covers 95% of New Zealanders as well as most credit-active companies.Envestnet | Yodlee is a leading global data aggregation and analytics platform for digital financial services. It is playing a key role in New Zealand’s emerging open banking regime and in Australia it is an active and accredited Consumer Data Right participant.With the help of Envestnet | Yodlee, and the permission of the borrower, Centrix can now access transaction data directly from the borrower’s bank account to support up-to-date debt servicing and affordability checks based on actual income and expenditure, rather than self-reported estimates or proxies.This proactive move by Centrix delivers several benefits to both borrowers and lenders and is an important step in ensuring Centrix remains at the cutting edge of credit reporting and decisioning tools for lenders, brokers and landlords in the New Zealand market.By permitting direct access to bank data, borrowers can save time and hassle when completing loan applications, and lenders can remain compliant with the enhanced consumer protections legislated by the Credit Contracts and Consumer Finance Act, which requires lenders to determine the affordability and suitability of a loan.Monika Lacey, Chief Operating Officer at Centrix, said, “Our clients will start to see some specific benefits coming through such as a broad range of income and verification solutions, data and analytics to support new customer segments, and future-proofed lending that will harness open banking in New Zealand when that goes live.”Taner Uzelakcil, Director of Business Development A/NZ at Envestnet | Yodlee, added, “We’re looking forward to working with Centrix to go deep with data and deliver global open banking trends and insights as well as world-class products and services designed especially for the New Zealand market.”The importance of this move by Centrix is underscored by the current financial climate in New Zealand, as many Kiwi households are adjusting to the economic downturn, cost of living pressures, and higher interest rates. There is a strong mutual need for lenders and borrowers to protect themselves from bad debt.“Our core mission is to help credit providers to monitor their risk and protect their cash flows,” said Ms Lacey.“With the help of Envestnet | Yodlee giving us access to thought leadership and global experience, as well as direct access to bank transactions, Centrix can improve its credit scoring to help lenders better understand their risk and manage their cash flows. We’ll also be able to improve our fraud and transaction monitoring tools for additional compliance benefits,” she said

Centrix Delivers Financial Data Win For New Zealand Borrowers And Lenders, Powered By Envestnet® | Yodlee®

Data aggregation and analytics for finance

Yodlee

Data aggregation and analytics for finance

Yodlee

Data aggregation and analytics for finance

About

Simplify's Take

What believers are saying

What critics are saying

What makes Yodlee unique

Benefits

Recently Posted Jobs

Yodlee is Hiring for 0 Jobs on Simplify!