Yodlee Introduces Financial Data Converter for Users of Microsoft Money

Finovate -- Yodlee, Inc., the leading provider of online and mobile personal financial management (PFM) and payments solutions, today announced a partnership with Ultrasoft Digital Media to enable Microsoft® Money(TM) users to automatically transfer all current and historical financial data directly into Yodlee-powered online PFM services.

In June, Microsoft announced plans to discontinue its Microsoft Money desktop PFM software as of January 31, 2011, leaving millions of users without a good alternative. The new converter application, developed by Ultrasoft using the Yodlee 10 Software Development Kit (SDK), will safely pull consumer financial data from desktop versions of Microsoft Money and seamlessly integrate that data into Yodlee powered online PFM applications at leading banks and portals. Yodlee powers PFM applications and services for over 22 million consumers at over 100 leading financial institutions and portals worldwide. Millions of Microsoft Money users will now have an option to preserve and upload their important financial information to a trusted online personal finance solution powered by Yodlee at the major financial institutions in the USA.

"Desktop PFM is going away for good," said Yodlee SVP of Products, Peter Hazlehurst. "At the same time, online PFM is experiencing exponential growth, due to the speed, convenience and automation it provides. We're partnering with Ultrasoft to give Money users the best alternative to preserve and leverage the rich history of their financial information, maintain continuity in their financial management activities and ultimately help make those activities easier in the future."

"We've been in the business of helping consumers use their Microsoft Money data on mobile devices for over 10 years," explained David Kendall, President of Ultrasoft Digital Media. "We're excited to be able to offer a lifeline to people that want to move their Microsoft Money data to a better online experience by partnering with Yodlee and enabling Yodlee PersonalFinance to import Microsoft Money data."

The Microsoft Money PFM data converter will be available in early Q1/2010 from Ultrasoft and through the new Yodlee 10 financial applications center.

  For more information about Yodlee PFM solutions, log on to yodlee.com.

  About Yodlee

Leading financial institutions and portals trust Yodlee to power critical online finance applications that increase profitability and drive more value from the online channel. Yodlee's proven personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere, forever. Yodlee makes financial institutions' websites essential to their customers and helps them generate new revenue. Yodlee's patented data, payments and risk management utility supports more than 11,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, log on to yodlee.com.

About Ultrasoft Digital Media

For over ten years, consumers have trusted Ultrasoft with their Microsoft® Money data. Ultrasoft offers a suite of Palm OS® and Windows Mobile® money management tools that allow users to manage their financial data remotely. Only Ultrasoft® products are recommended by Microsoft for exporting Microsoft Money data. Ultrasoft is based in Toronto, Canada, and provides solutions for consumers worldwide. For more information, visit www.ultrasoft.com.

Yodlee is a registered trademark of Yodlee, Inc. Yodlee PersonalFinance is a trademark of Yodlee, Inc. Ultrasoft is a registered trademark of Ultrasoft Digital Media. All other products and services mentioned are the property of their respective owners

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SOURCE: Yodlee, Inc.