Money is one of the biggest sources of stress, especially for hardworking families. Yet many people keep forging ahead without an understanding of how to improve their financial health, especially the role debt plays.
Envestnet® | Yodlee® and BrightUp have joined forces to give people the actionable guidance they need to better manage their finances and plan their future. A digital financial wellness company, BrightUp is using Envestnet | Yodlee’s data and analytics solutions to deliver hyper-personalized digital experiences and unique financial insights. This kind of hyper-personalization isn’t possible without access to consumer transactional patterns and trends, and as an industry leader in data aggregation and analytics, Envestnet | Yodlee is uniquely positioned to deliver these experiences.
Working Together to Deliver Digital Experiences that Matter
Research shows nearly 80% of Americans live paycheck to check, while 40% say they need to use credit to cover a $400 expense.1,2 Little wonder that almost three-quarters of Americans rank their finances as their #1 stress in life.3
That’s where the Envestnet | Yodlee + BrightUp partnership is powerful, and potentially life changing. By providing smart, dynamic, insight-driven tools and resources that meet people where they are, it mixes money with mindset to help people build the financial life they deserve.
“Data connectivity forms the underpinning of our partnership with BrightUp and the foundation by which we can facilitate faster and more reliable consumer access to financial data” said Farouk Ferchichi, Group President, Envestnet Data & Analytics. “Through our ecosystem of solutions – powered by data and intelligence – we are able to help as many clients and customers as possible achieve an Intelligent Financial Life™.”
Empowering Consumers with Data + Intelligence
Envestnet | Yodlee’s FastLink 4 provides BrightUp users with a better account linking experience, while deep integration with Envestnet | Yodlee Insights Solutions enables these users to access real-time recommendations that combine actionable consumer insights, aggregated data, and personalized views.
Built on industry-leading, high-quality, cleaned and enriched data, Insights Solutions enables users to uncover financial details around their spending, savings, budgeting, income, subscriptions, bills, and more, with an ever-expanding library of financial insights. With personalized views, users can create personalized insights around areas that matter the most – like saving for college or retirement, budgeting for emergency savings, home maintenance, and more – and configure how and when these insights are generated to ensure these financial snapshots reveal the right data at the right time.
Together, these solutions help BrightUp users make better financial decisions so they can reduce their debt, and build wealth and self-worth for themselves and future generations.
“Data has the power to harmonize and connect all the parts of a person’s financial life so that their daily monetary decisions support their long-term goals,” added Ferchichi. “That’s why we’re excited to be working with BrightUp in their mission to democratize wealth-building and well-being by making it easier for people from every background to manage their finances and plan their future.”
For more information about this Envestnet | Yodlee + Bright Up partnership, please contact our team.
Footnotes
1 Martin, Emmie. ‘’78% of US Workers Live Paycheck to Paycheck.” CSNBC.com January 9, 2019.
2 “ Report on the Economic Well-Being of U.S. Households in 2019 - May 2020.” Federal Reserve. https://www.federalreserve.gov/publications/2020-economic-well-being-of-us-households-in-2019-dealing-with-unexpected-expenses.htm
3 White, Alexandria. “73% of Americans Rank Their Finances as the No. 1 Stress in Life.” CNBC.com. July 8, 2020. https://www.cnbc.com/select/73-percent-of-americans-rank-finances-as-the-number-one-stress-in-life/
