Redwood Shores, CA - June 22, 2010 - Yodlee, Inc., the leading provider of personal financial management (PFM) and integrated payments solutions, today announced the appointment of Jim Frankola as Chief Financial Officer.
"With many of the world's leading financial institutions and portals as customers, and a profitable, high growth business model, Yodlee is at an exciting stage in its market leadership," said Anil Arora, Chief Executive Officer of Yodlee. "Jim has tremendous expertise helping innovative SaaS companies like ours manage rapid economic growth and refine the financial and operational models necessary to build large, sustainable businesses. We are thrilled to add Jim's leadership, insight, and enthusiasm to our executive team."
Mr. Frankola joins Yodlee from Ariba, Inc., a leading provider of Spend Management solutions, where he was Executive Vice President and held the role of Chief Financial Officer from 2001 through 2008. He led Ariba through several transformations, establishing the company as a leader in Spend Management solutions and transitioning Ariba from a traditional enterprise application vendor to a top-performing Software as a Service company. Jim also helped define the strategy that has positioned Ariba as the global leader of cloud-based collaborative commerce solutions. As a measure of this success, Ariba built one of the leading on-demand businesses with $152M in 2009 SAAS revenues, while improving its overall non-GAAP net income margins from breakeven in 2002 to 18% in 2009. Prior to Ariba, Frankola held various financial and executive positions at Avery Dennison Corporation and IBM.
"Yodlee has a powerful, compelling vision for personal finance that I believe will fundamentally re-shape the way people manage their finances," noted Jim Frankola. "I am personally very excited to be part of the team, the technology and the business that will bring this vision to life for millions of people around the world."
Founded in 1999, Yodlee powers innovative online and mobile financial solutions used by more than 25 Million consumers through more than 150 leading financial institutions and portals worldwide. This summer, Yodlee will extend its leadership in online finance when it launches Yodlee 10™, the first consumer-driven marketplace for personalized financial applications.
Leading financial institutions trust Yodlee to power critical online financial applications. Yodlee's personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure source for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new revenue opportunities. 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 today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
Melanie Flanigan, Yodlee at (650) 980-3707, or email to mflanigan@yodlee.com
Yodlee is a registered trademark of Yodlee, Inc. All other products and services mentioned are the property of their respective companies.
