FinnovateSpring 2016

Envestnet Demos Advisor Now at FinovateSpring 2016

Our team recently had the chance to demo at FinovateSpring 2016, the renown conference that showcases cutting-edge banking and financial technology in a unique demo-only format. FinovateSpring 2016 was held on May 10 and 11 at the City National Civic in San Jose, California. We were especially excited about the opportunity to present the integration of Envestnet’s digital advice portal Advisor Now™ and Envestnet | Yodlee data aggregation and Personal Financial Management tools/FinApps. Presenters included Molly Pandya, Senior Vice President, Product Management at Envestnet; Blake Wood, Senior Vice President, Product Management at Envestnet; and Christina Eaves, VP Digital Advice Strategies at Envestnet.

Thirty-two companies were competing for six awards, and we were the very first presenters on May 11, starting at 8:45am. Blake started out with introductions to our team and explained how the Advisor Now tool powered by Envestnet | Yodlee Data Aggregation and FinApps “enables bank and wealth firms with the ability to offer their customers, be they millennials or retirees, the ability holistically manage their finances, with goal-based planning which ultimately leads to higher financial wellness.”

Next, Molly shared information about the app focusing on The Plan Tracker. “We believe this app is a great, scalable way for banks or wealth firms to engage with new prospects and existing clients by giving them access to their aggregated financial information and as a prospecting tool for them to prompt the consumer to engage in creating a long-term financial plan.” The Plan Tracker shows “how the consumer’s financial plan is performing and its projected value at retirement.” And then Christina presented details of an actual financial plan onboarding process, “The app allows for three different types of financial planning modules: the first is financial planning in which the consumer can create a profile, establish their investment goals and see whether they are on track for meeting those goals.

The second is a financial checkup, which allows the consumer to use Envestnet | Yodlee tools to aggregate all of their assets and see an analysis of their current holdings. And third, for the consumer who is just looking to invest in an appropriate investment portfolio, there is the just Invest option.” Lastly, Blake concluded with some final remarks, “Only Envestnet Advisor Now powered by Envestnet | Yodlee data aggregation and Apps provides the tools that banks and wealth firms need to deliver complete wellness and personalized goal-based investment services –however and whenever consumers want them.” We received lots of interest in Advisor Now and Envestnet | Yodlee Data Aggregation and FinApps from visitors to our booth at FinovateSpring 2016. Visual elements and video are becoming important to financial application users. It's not just enough to look at plain statements filled with numbers and text – many users, especially mobile users, want engaging and colorful dashboards and reports to help make sense of their financial data.

So it's no surprise that SaleMove, Silver6, and Quid won three of the Best of Show awards, as they're helping to drive video and visual technology inside fintech. SaleMove has created an engagement platform that uses video, voice, and chat for its customer interactions; Silver6 enables businesses to use video personalization to communicate with customers; and Quid uses interactive maps and visual explorations based on big data analytics, natural language processing, and network science. Solutions for the underbanked and financially vulnerable also resonated with participants, as BanQu and PayActiv took two more of the Best of Show awards. BanQu helps refugees and the underbanked join the global economy, thanks to its blockchain-based identity platform, while PayActiv is a real-world alternative to payday loans that gives workers access to yet-unpaid wages. Lastly, LendingRobot took the final Best of Show award with its investment-tracking dashboard that helps middle-class investors monitor their finances across peer lending platforms like Lending Club and Prosper.

For more information about Envestnet Advisor Now, a turnkey and fully brandable digital advice offering that automates the process of goal planning, portfolio selection, account opening, fund transfers, and client communications, watch the video at: To learn more about the recent Envestnet announcement, “Investor Suite Integration with Yodlee Data Aggregation and Personal Financial Management FinApps”, please visit: