Envestnet | Yodlee Enables Financial Service Providers to Offer Secure Same-Day Payments through Instant Account Verification
Envestnet | Yodlee's fully RESTful Instant Account Verification API provides seamless connections to bank accounts for financial service providers offering same-day ACH payments
LAS VEGAS, Oct. 25, 2016 /PRNewswire/ -- MONEY 20/20: Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced updates to the Envestnet | Yodlee Instant Account Verification (IAV) solution, including a more intuitive RESTful API infrastructure. These updates make it easier for financial service providers to help protect against fraud, operational and settlement risk – while enabling quicker, same-day Automated Clearing House (ACH) transactions for consumers.
Envestnet | Yodlee's Instant Account Verification provides seamless connections to bank accounts and reduces abandonment rates during the settlement time, including the requirement of micro-deposits to verify the authenticity of the account provided. Envestnet | Yodlee IAV speeds up this process by authenticating the bank account in seconds with minimal customer input, using the industry's most stringent security protocols.
For developers, the new Envestnet | Yodlee IAV offers an intuitive RESTful API that makes it easy to quickly integrate the solution into any payment system or financial application. With a simplified data model, clear documentation and reduced code requirements, the Envestnet | Yodlee RESTful API architecture allows for quick integration and secure access to more than 15,500 data sources, making it easier for developers to provide applications that help consumers make better financial decisions.
"Increasingly, consumers want digital access to their money anytime, anywhere and across multiple devices," said Lori Martel, vice president, platform product management at Envestnet | Yodlee. The new Envestnet | Yodlee IAV solution in conjunction with updates enacted by NACHA – The Electronic Payments Association allowing for same-day payments and settlements for financial service providers, is great news for consumers and the wider industry. "With the latest updates to Envestnet | Yodlee IAV, financial service providers can simply develop and deploy solutions which protect against risks while enhancing the consumer experience for same-day ACH transactions."
The updates to Envestnet | Yodlee IAV solution compliment the world-class security and sophisticated infrastructure of the Envestnet | Yodlee Financial Data Platform, and builds on the experience gained from working with the world's largest financial institutions to support consumers' financial needs.
For more information about Envestnet | Yodlee, please visit www.yodlee.com.
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to financial enterprises and advisors. Our solutions unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet enables the transformation of wealth management into a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet's Advisor Suite enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, personalized financial apps and services for millions of consumers. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors.
More than 2,000 companies, including 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.
SOURCE Envestnet | Yodlee