Open Banking

Open Banking Central, a platform for Financial Institutions

Envestnet | Yodlee’s Open Banking Central helps Financial Institutions deliver personalized digital experiences to their customers by providing secure access to the most comprehensive and accurate financial data and insights that only our trusted and open ecosystem can provide.

Security. Transparency. Control.

Move Ahead with Open Banking

As open banking gains momentum in the U.S., Envestnet | Yodlee is the partner of choice for building and connecting your consumers to our open banking ecosystem. Through our APIs/ OAuth data delivery technologies, open banking experience, and connections to the FinTech community, you can gain transparency and control of the data in support of your consumers and unlock opportunities to better serve them through secure data sharing. As you prepare for open banking, you can position yourself at the center of the personalized digital financial experience your customers are seeking.

This product is available via
  • APP
  • API

Open Banking for FIs

Key Benefits

Envestnet | Yodlee is a trusted open banking-ready partner for financial institutions, with an innovative banking ready platform, enhanced governance standards, and proven bank-grade security.

Balanced Perspective

As an independent data aggregator, we support Financial Institutions and FinTech customers equally and let you choose how to construct and deliver your open banking APIs and authentication/consent experience

Responsible Data Access

By working closely with data providers and using technologies such as OAuth, we seek to access data with the correct scope, timing, and best quality to support your consumers’ open banking needs

No Cost for Integration

To unlock open banking benefits for FIs, FinTechs, and consumers, we take on the project management costs for rollout across the Envestnet | Yodlee customer base

Seamless Customer Experience

Envestnet | Yodlee solutions and expertise ensure a smooth transition to open banking with a high degree of flexibility

Security & Privacy

We adhere to leading industry practices for data security, regulatory compliance, and privacy, protecting your consumer data within our network infrastructure

Robust Data Platform

We offer market-leading site coverage for account aggregation and verification, engagement analytics and insights, and APIs

Making Data Accessible and Secure

Accelerating Innovation in an Open Banking World

Major financial providers like Citibank, JP Morgan Chase, Charles Schwab, Wells Fargo Bank, and others have recently established bi-lateral data sharing agreements with Envestnet | Yodlee, compelling many other providers to open up conversations about their open banking plans.

These data-sharing agreements are based on principles dedicated to supporting the consumer, ensuring that consumers remain in control of their own financial data, and clarifying the roles and responsibilities of all the parties involved in the financial data ecosystem.

As an independent financial data aggregator, Envestnet | Yodlee offers a variety of tools to support financial institutions on the open banking journey. Our architecture and business practices, open banking-ready platform, engagement analytics and insights, and FinTech expertise and connections enable financial institutions to deliver the digital financial experiences consumers need to achieve their financial wellness goals.

Benefits of working with Envestnet | Yodlee include:

  • Unlike other competitors, we believe that you should have maximum flexibility in deciding how to construct and deliver your APIs, including choosing the format that fits your needs and the authentication/consent experience that your consumers will undergo. As open banking evolves, choosing a partner that can support multiple variations of implementation models that meet your needs is key.
  • While accessing data that your consumers need is critical, it’s also important to only seek data that the consumer has permissioned to release. By working closely with data providers and using technologies such as OAuth, we seek to access data with the correct scope, timing, and quality to support your consumers’ open banking needs.
  • Our fully staffed and dedicated Open Banking Central team is ready to help you with your open banking integration needs, and we take on the project management costs for rollout across the Envestnet | Yodlee customer base.
  • Envestnet | Yodlee solutions and expertise are built to satisfy your security, compliance, and consent requirements and ensure a smooth customer experience during your transition to open banking. This protects your consumers from experiencing unnecessary friction when accessing their account information via our platform.
  • In working with data providers, our flexible process supports multiple API formats, makes it easy to include new data elements, and ensures that APIs that data sites create continue to be owned by the data site.
  • Our single set of Envestnet | Yodlee APIs and built-in data enrichment capabilities make for a better developer experience.
  • Our FastLink app makes it easy for consumers to securely add and refresh their financial accounts from any device. Integration is easy too, with a flexible configuration tool that gives you more control over the end user experience and enables our customers to quickly deliver open banking-ready apps and services that increase consumer engagement.

Whitepaper

Unlocking the Benefits of U.S. Open Banking

The developing open banking ecosystem offers powerful benefits for those who are ready. Find out more about what’s needed to deliver the full benefit of open banking to your customers.

  • Financial Environment
  • U.S. Movement
  • API Technology
  • How to Get Started
Powering Dynamic Innovation for Financial Services
500M+
LINKED ACCOUNTS
30M+
USERS WORLDWIDE
50+
PATENTS

A Founding Member of

Open Banking

Read more about the open banking movement and discover new ways to support your consumers in their journey toward financial wellness.