Enable Secure Online Payments
Benefits for Payment Processors
By integrating with Envestnet | Yodlee, payment processors gain access to an extensive, security focused platform for delivering financial wellness solutions to existing customers and grow your business.
Linking Financial Instruments
Envestnet | Yodlee offers a simple, seamless, integrated UX that enable user to authenticate directly to their bank accounts and aggregate all of their bank account information. Linking financial instruments extends across checking, savings, credit, investment, insurance, loans & mortgage, and crypto assets.
Enrichment & Categorization
After linking & aggregating all user’s accounts, Envestnet | Yodlee transaction enrichment feature cleans raw transactions, enriches the transactions for relevancy, identifies merchant information, and organizes them by transaction type categories.
Account Verification from Envestnet | Yodlee provides a depth of information related to bank account data. For example, retrieving the bank routing, account number, account type, ownership information, and latest balances. These attributes serve as valuable tools to help payment processors ascertain the existence, accuracy, and ownership of a bank account before it is used in a payment transaction.
Fraud & Risk Mitigation
All payment transactions require fraud and mitigation checks before and after a payment has been processed. Account verification of the payer and/or payee reduces transactional risk. Account Tokens help keep the bank account information secure while at rest. In addition, Envestnet | Yodlee uses enhanced security checks to confirm user behaviors across multiple devices.
Account Tokens from Envestnet | Yodlee promotes a safe and secure means for customers to validate bank account information without needing to store or transmit it to anyone. Payments processors can look up the validated bank information based on the account token provided by the customers.
Envestnet | Yodlee payment processor partners enable our payment facilitation network across all our customer's processing needs.
How it Works
The Payment Enablement Platform
Envestnet | Yodlee platform offers a full circle of financial services, starting - from initiating and linking a bank account to facilitating a payment transaction.
Envestnet | Yodlee is a Nacha preferred partner for Account Verification & Payments. As a preferred partner, Envestnet | Yodlee joins a select group of innovators contributing to Nacha’s strategic efforts in support of the payments ecosystem by removing friction, increasing ease, improving cash flow accessibility and efficiency, as well as supporting sound risk management and security for ACH payments.