With more than 30 million users worldwide and 50 patents to its credit, it’s easy to see why Envestnet® | Yodlee® is the choice for more than 1,700 Financial Institutions and FinTechs across the world — including those in the United Kingdom — looking for innovative Open Banking solutions, top-notch security, ease of use and local support combined with industry leading data aggregation tools.
Here’s a closer look at each of these features.
Yodlee Open Banking vs. U.K. Competitors
U.K. Open Banking regulations let customers share banking information with AISP-licensed (Account Information Service Provider) third parties. The regulations are designed to put consumers in the driver’s seat as to which third parties have access to their data and how it can be used.
Envestnet | Yodlee’s Open Banking solutions offer long-term viability with trusted and secure access to comprehensive and accurate financial account data so our customers can develop actionable insights and provide proactive financial guidance and personalized experiences.
Yodlee’s solutions are trusted by so many for the following reasons:
- Choice: Yodlee users can search among more than 100 U.K.-based payment account providers.
- Transparency: When a user starts an application, they can provide (or decline) consent to use of their data.
- Control: Users can manage accounts and data they’ve provided consent for.
In short, Yodlee’s FastLink 4.0 application controls every aspect of Open Banking connections. It is one of the fastest, most powerful and robust account linking tools on the market. Learn more here.
Yodlee Support and Security
As a global company, Envestnet | Yodlee’s support and service are available on a local level in each country we serve.
Yodlee offers 24/7 support and proactive monitoring thanks to our technical experts who are positioned across the globe to help you both onshore and offshore, regardless of location or time zone. We feature a specialized engineering data team to help optimize connections as well as a team of dedicated Technical Account Managers who can act as a single point of contact for all technical issues. Our team goes beyond mere support by tracking metrics and KPIs, enhancing areas of service delivery improvement and recommending changes to operating procedures.
Ease of Use
The hallmarks of Yodlee’s solutions are flexible configuration and easy implementation. Our tools allow you to link accounts simply, securely and quickly by enabling customers to securely connect their financial accounts and rapidly onboard to your solution.
FastLink 4.0 offers control over branding and the end user experience while increasing consumer confidence in money movement and transparent linking, verifying and refreshing connections to accounts. By providing accurate financial data and insights from a variety of sources, our personalized digital experiences drive engagement and are ready you for open banking in a secure, transparent environment. H2:
While competitors like Tink, Plaid and others no longer offering screen scraping services in the United Kingdom, Yodlee continues to deliver this form of data aggregation, including for accounts that are not supported by Open Banking. Other FinTechs may offer an Open Banking API, but Yodlee’s products deliver quality, extended data coverage and intelligent insights to keep pace with the ever-growing demands of digital banking from a single platform and provider.
Our apps, data and APIs lead the industry in supporting organizations1 from small startups to FinTechs and Financial Institutions.
Other Yodlee Differentiators
It’s not just data aggregation, ease of use, security and support that sets Yodlee apart from other U.K. competitors. We also offer:
- Unrivaled financial data coverage,
- Highly accurate, enriched data for financial wellness solutions
- Pension and investment data to seize open finance opportunities with pension and investment data
- More than 20 years of experience in data aggregation including rolling out U.K. and U.S. open banking
Yodlee knows the people, the policies and the technology that advanced the open banking system. The stability of a longstanding partner with robust infrastructure will provide peace of mind as your organization scales up.
|Plaid||Tink||TrueLayer||Yapily||SaltEdge||Envestnet | Yodlee|
|Screen Scraping (other accounts – investments. Pensions etc)||Yes||Yes|