Security. Transparency. Control.
Move Ahead with Open Banking
As open banking gains momentum in the U.S., Envestnet | Yodlee is the partner of choice for building and connecting your consumers to our open banking ecosystem. Through our APIs/ OAuth data delivery technologies, open banking experience, and connections to the FinTech community, you can gain transparency and control of the data in support of your consumers and unlock opportunities to better serve them through secure data sharing. As you prepare for open banking, you can position yourself at the center of the personalized digital financial experience your customers are seeking.
Open Banking for FIs
Key Benefits
Envestnet | Yodlee is a trusted open banking-ready partner for financial institutions, with an innovative banking ready platform, enhanced governance standards, and proven bank-grade security.
Balanced Perspective
As an independent data aggregator, we support Financial Institutions and FinTech customers equally and let you choose how to construct and deliver your open banking APIs and authentication/consent experience
Responsible Data Access
By working closely with data providers and using technologies such as OAuth, we seek to access data with the correct scope, timing, and best quality to support your consumers’ open banking needs
No Cost for Integration
To unlock open banking benefits for FIs, FinTechs, and consumers, we take on the project management costs for rollout across the Envestnet | Yodlee customer base
Seamless Customer Experience
Envestnet | Yodlee solutions and expertise ensure a smooth transition to open banking with a high degree of flexibility
Security & Privacy
We adhere to leading industry practices for data security, regulatory compliance, and privacy, protecting your consumer data within our network infrastructure
Robust Data Platform
We offer market-leading site coverage for account aggregation and verification, engagement analytics and insights, and APIs
Making Data Accessible and Secure
Accelerating Innovation in an Open Banking World
Major financial providers like Citibank, JP Morgan Chase, Charles Schwab, Wells Fargo Bank, and others have recently established bi-lateral data sharing agreements with Envestnet | Yodlee, compelling many other providers to open up conversations about their open banking plans.
These data-sharing agreements are based on principles dedicated to supporting the consumer, ensuring that consumers remain in control of their own financial data, and clarifying the roles and responsibilities of all the parties involved in the financial data ecosystem.
As an independent financial data aggregator, Envestnet | Yodlee offers a variety of tools to support financial institutions on the open banking journey. Our architecture and business practices, open banking-ready platform, engagement analytics and insights, and FinTech expertise and connections enable financial institutions to deliver the digital financial experiences consumers need to achieve their financial wellness goals.
Benefits of working with Envestnet | Yodlee include:
- Unlike other competitors, we believe that you should have maximum flexibility in deciding how to construct and deliver your APIs, including choosing the format that fits your needs and the authentication/consent experience that your consumers will undergo. As open banking evolves, choosing a partner that can support multiple variations of implementation models that meet your needs is key.
- While accessing data that your consumers need is critical, it’s also important to only seek data that the consumer has permissioned to release. By working closely with data providers and using technologies such as OAuth, we seek to access data with the correct scope, timing, and quality to support your consumers’ open banking needs.
- Our fully staffed and dedicated Open Banking Central team is ready to help you with your open banking integration needs, and we take on the project management costs for rollout across the Envestnet | Yodlee customer base.
- Envestnet | Yodlee solutions and expertise are built to satisfy your security, compliance, and consent requirements and ensure a smooth customer experience during your transition to open banking. This protects your consumers from experiencing unnecessary friction when accessing their account information via our platform.
- In working with data providers, our flexible process supports multiple API formats, makes it easy to include new data elements, and ensures that APIs that data sites create continue to be owned by the data site.
- Our single set of Envestnet | Yodlee APIs and built-in data enrichment capabilities make for a better developer experience.
- Our FastLink app makes it easy for consumers to securely add and refresh their financial accounts from any device. Integration is easy too, with a flexible configuration tool that gives you more control over the end user experience and enables our customers to quickly deliver open banking-ready apps and services that increase consumer engagement.
Define Your Strategy
Open Banking Tools
Whitepaper
Unlocking the Benefits of U.S. Open Banking
The developing open banking ecosystem offers powerful benefits for those who are ready. Find out more about what’s needed to deliver the full benefit of open banking to your customers.
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