Developer Portal Undergoing Big Growth

2000% Increase and Counting: Developer Portal Undergoing Big Growth

No doubt Envestnet | Yodlee is a market-leading financial data aggregator – and we’re good at that. As one of the leading data and analytics companies in the world, we’re always evolving so we can help developers and FinTechs alike go beyond their core data aggregation and verification needs to scale, spur growth and compete over time.

Up-Leveled Developer Portal Drawing Crowds

Case in point: our enhanced developer portal. Launched in June 2021, our goal was to provide developers with easier onboarding, enhanced navigation, and a streamlined approach to accessing financial data and API implementation to speed up their go-to-market timelines.

By everything we’re seeing, developers like what they’re finding at too. We’ve added thousands of new developers in the last six months. Combine this with a 1500%+ increase in usage in the past 12 months and it’s safe to say Envestnet | Yodlee is supporting hundreds of thousands of platform activities and billions of API calls.

Growth From Beyond (the FinTech Community)

Equally exciting is where this growth is coming from because it’s not the usual FinTech suspects. The growth areas we’re witnessing include:

  • Recently regulated industries that deal with high-risk payments. “Know Your Customer” (KYC) rules and fiduciary duties require these industries to verify their customers have the money to do what they want. These requirements, coupled with the velocity of verification, are challenging, especially since many are new to the market. Our 20+ years in the market offers the maturity they’re looking for to build their experiences on.
  • FinTechs, developers and other innovators are building API platforms. Customers are no longer content to build just a single app. They’re aggregating APIs to create more holistic platforms that other people can then use to create a solution that runs on top of that. This kind of “beyond banking” verification and integration is complex to build. Our leadership in consumer-permissioned account verification is proving to be a valuable element as a core element of their customers journey.

New & Upgraded Features Also Helping Build Momentum

Developers are finding enhanced features, functionality and pricing that makes it easy to get started, then build for next stage, including:

  • Premier FinTech APIs
    All our APIs are on the dev portal, organized by function – Core (Account Aggregation & Account Verification), Solutions (like Open Banking) and Tasks (such as Predicted Cash Flow APIs).
  • Easy-to-use tools
    There’s a full range of tools to help developers quickly bring their ideas to life, including FastLink (our account onboarding tool), new configuration tools for customizing their work setting, Postman, code samples and more.
  • Open Banking-ready platform
    Our platform supports Open Banking in Australia, the United Kingdom and the United States, enabling the latest, compliant standards for privacy and security.
  • Straightforward, consistent pricing
    Our flexible, consumption-based billing model enables developers to track and pay only for what they use so they can keep expenses in line with growth. No bait and switch tactics, pricing is transparent and free to start.

Case Study: Partnering with Ultra-Modern Net Worth Tracker Kubera

FinTech startup Kubera wanted to create the most comprehensive portfolio tracker on the market today – one that would make it easy for consumers to track multi-currency bank and brokerage accounts via account aggregation. But Kubera found keeping up with a multitude of institutions and their API changes was a daunting task for a startup. They sought to partner with a high-quality financial data aggregator instead, and found Envestnet | Yodlee’s startup friendly pricing and extensive financial institution coverage very compelling.

The rest is history. Kubera quickly built Envestnet | Yodlee’s Account Aggregation API into their portfolio tracker, and went from zero to tracking over $6 billion in assets for thousands of subscribers within a year of launch. “In traditional FinTech, success like this used to take several years to accomplish but our team’s strong consumer and enterprise software DNA along with core partners like Envestnet | Yodlee has made this possible in a short span of time,” said Kubera’s founder and CEO Rohit Nadhani.

For more details on how Envestnet | Yodlee partnered with Kubera, download the case study. Make sure to visit our updated Developer Portal.