The new APIs will make creating hyper-personalized financial wellness tools much easier At Envestnet | Yodlee we’ve spent the last 20 years making it possible for financial service providers and fintechs to make comprehensive and helpful tools for personal finance and wealth management. We wrote a few weeks back about an increased focus on individualized insights and recommendations in the consumer space. The demand for those same types of insights has shown itself to be the same in financial decision making Last week, at Money 20/20 in Las Vegas, we introduced our new intelligent APIs and enhanced developer experience. The goal with these upgraded tools is to take the complexity out of delivering personalized, actionable digital experiences and apps. You can read more about what’s new here. Why is hyper-personalization important and how is it possible? As more Millennials and Generation Z-ers are handling their own personal finances and banking, they're not satisfied with the generic one-size-fits-all approach that banks had 20 and 30 years ago. Consumers now expect financial institutions and fintech providers to harness hyper-personalization capabilities that give individualized recommendations and experiences based specifically on their own spending and saving habits. Hyper-personalization efforts rely on real-time data analysis, comparing consumers’ spending and saving habits to others in similar financial situations. The possibilities exist for consumers to receive different products and solutions to meet the individual customer's needs, all based on the data analysis. Where do Envestnet | Yodlee’s intelligent APIs come into play? Our intelligent APIs are fueled by our financial data, the most comprehensive and accurate in the market. These APIs create all sorts of possibilities for consumers based on tools delivered to them by developers Consumers have the potential to look into unique insights based on their circumstances, organizing spending, earning and saving by incredibly specific categories. A rideshare driver needing to weigh fares versus related expenses or a mother monitoring a child’s spending on video games – all tailored possibilities through our intelligent APIs and enhanced developer experience. Digital experiences can share personalized recommendations based solely on an individual’s data, circumstances, and financial situation, delivering the hyper-personalized advice that could normally only come from a finance or bank professional. With our new intelligent APIs, developers can combine the world's most comprehensive and accurate financial data with our machine learning insights to easily create personalized experiences at a level unseen in the industry to date. To learn more about using our new intelligent APIs in your own financial institution, fintech app, or web portal, please visit the Yodlee developer site or contact us with any questions.
