How to Securely Connect Your Banks, Sync Devices and Control Spending
Are you looking to save more money and take control of your finances? One of the most helpful ways to effectively manage money is to securely connect your banks by aggregating financial data from multiple accounts and see a holistic view of your financial situation.
IGG Software is able to offer that feature through our iBank app by using the Envestnet | Yodlee Aggregation API. It gives our users a snapshot of their finances after they connect our app to their various financial institutions. They can pull in bank account and investment transactions whenever our app is launched.
Our goal is to help customers control their spending, build their personal savings, and plan for their financial future. We’ve helped hundreds of thousands of people get their finances under control by enabling them to see all of their finances in real-time.
That’s because Envestnet | Yodlee API enables us to take it one step beyond many other financial apps: users are able to interact with their financial institutions, so they can see their cost basis for every interaction or transaction they’ve made. With iBank, we provide insight into a user’s financial history including transaction details.
This has been a significant improvement from the beginning when we had to ask customers to log into their bank website, download a file, and then import that into iBank. Not an elegant solution when customers have a number of accounts.
Our goal is to have iBank work seamlessly across different Apple devices. We first started with a Mac product in 2003, but have subsequently released iPhone, iPad and now an Apple Watch app in April 2015.
iBank is not a cloud-based solution. In fact, that was a conscious decision on our part. Your data is kept on your devices.
However, we also understand that customers want to see all of their data on every device, so we do offer a free cloud sync service. This also exemplifies our commitment to customer privacy because we fully encrypt all data before it leaves any device. The beauty of our cloud sync model is that it not only is safe and secure, but also allows you to work offline.
Now that Envestnet | Yodlee is powering our backend, customers’ account data is updated as soon as they launch the app. That means every investment, credit card, or checking account transaction appears. Account balances and investment performance are updated to reflect the most recent financial activity.
The shear number of banks supported and the breadth of data that Envestnet | Yodlee API provides have enabled our customers to quickly and easily see their entire financial picture and take control of their money. Users can automatically connect to 10,000+ banks, schedule and pay bills, and sync across all devices – securely and privately.
We have some other great features that we’d like to deliver in the future that will also harness the power of Envestnet | Yodlee. To test drive iBank, download the 100% free trial.