Yodlee vs MX Competitor Comparison
Envestnet | Yodlee and MX are both financial data aggregation providers that allow financial institutions and FinTechs to simplify the connection process with financially-based apps and websites. Both companies provide integrations, deployment, and support to their customers but, for the reasons discussed below, Yodlee’s offerings stand above the competition, going the extra mile with industry-leading security practices, stable access to data, and scalability that is unmatched.
Drawing from 17,000 global data sources, Envestnet | Yodlee has helped power innovative approaches for FinTech, banking, wealth management, credit and lending, and other financial services with our complete clarity. From industry-leading core aggregation and verification solutions to conversational AI, developer tools, insights and peer benchmarking to rigorous data enrichment, Yodlee is the clear choice for thorough and insightful data services.
See how Yodlee’s services compare with MX’s:
|Envestnet | Yodlee||MX|
|Pricing||Multiple tiers from free to Enterprise level||Based on number of users|
|Training & Documentation||Developer portal, documentation and webinars||Documentation only|
|Audience||FinTechs and financial institutions with a global presence||Credit unions + small to mid-sized banks|
|Platforms Supported||1 (SaaS)||1|
See how Yodlee stacks up against other data aggregators:
Why Yodlee is the Clear Choice Versus MX
Although Envestnet | Yodlee is largely known as a data aggregator, we offer advanced tools to help FinTechs scale and Financial Institutions spur growth and competition over time. With strong support, API documentation, micro-savings tools, and conversational interfaces, connecting with your customers has never been easier.
Here’s a closer look at Envestnet | Yodlee’s strengths vs. MX.
Enriched Data Never Looked So Good
Envestnet | Yodlee delivers more ways to enhance your digital offerings, your client experience and your embedded finance strategy with our Transaction Data Enrichment (TDE) tool. Address data gaps, reduce fraud, and cut down on support calls with our rigorous data enrichment. Investments in data science have allowed us to take incomplete data and transform it into accurate, meaningful data for both retail and wealth management applications.
Coverage That Spans the Globe
While others such as MX only provide coverage in select countries, Envestnet | Yodlee’s coverage is truly global, offering collaborative 24/7 customer support and proactive monitoring. With experts positioned across the globe, Envestnet | Yodlee offers technical account managers and a dedicated engineering team tasked with keeping an eye on your data access point and optimizing connections.
Create Your Own Experience
While MX largely sells apps to small banks, Yodlee’s robust client list means we’ve created customizable experiences tailored to your organization’s needs. We give you the pieces to build your own experience so you can differentiate yourself from the competition. Our flexible and scalable APIs are easy to implement across onboarding, payments, insights, and wellness.
Market-Best Data Services for Wealth Management
Envestnet | Yodlee offers market-best data services for wealth management, where MX does not offer this service in the wealth management/financial planning market. We offer analytics to help grow your business across both wealth and banking, delivering actionable insights derived from highly-enriched data for retail and wealth. We help put these insights to work for you and your consumers.
Developer Tools You’ll Want to Use
Unlike MX, Envestnet | Yodlee provides a robust developer portal. Whether you’re a corporate developer at an innovation lab or work for a financial institution, our developer-friendly tools allow you to create a free account, play around in the sandbox, and get integrated in roughly one hour. With Envestnet | Yodlee, you’ll be able to leverage consumer financial data on the industry-leading platform that draws from more than 17,000 data sources and 500 million linked accounts.
Envestnet | Yodlee’s micro-savings tool can be used to open and fund savings accounts while helping to deliver on embedded finance strategies. With this tool in place, you’ll be able to retain consumers and deposits with embedded micro-savings.
AI With a Personality
Simplify your service and guide digital transactions with our multi-channel conversational AI interface. This tool helps guide account opening, increase digital banking, and decrease support costs while meeting customers where they are — on their mobile devices. Envestnet | Yodlee is the only aggregation provider on the market offering advanced micro-savings and conversational AI tools.
Envestnet | Yodlee is the Clear Choice
With competitors such as MX focusing their efforts on credit unions and mid-sized banks, Yodlee works with institutions of all sizes. We follow the global banking pathway in Europe, New Zealand, Australia, Africa, and other countries, meaning you’re ready to get started in no time. By choosing Yodlee as your provider, you’re setting yourself up for long-term success with the flexibility to scale at any point in the future. Reach out to us to get started. CTA: Learn More