Speed Verification. Reduce Risk.
With more consumers using online banking services, accessing their money in digital ways, and transferring funds than ever before, the ability to manage account authentication and manage risk in real time is critical. The single unified Envestnet® | Yodlee® Platform API offers a safe, secure, and quick way to connect accounts and balances, provide low cost funding options, while reducing risk.
Provide a seamless digital experience to immediately connect and access accounts
Unlike most account verification processes that take days and require consumers to verify micro-deposits to their bank accounts to validate accounts, account verification from Envestnet | Yodlee happens in real-time. Onboarding and transferring of funds is simple, with consumers only needing to enter their online banking credentials instead of bank account and routing numbers. Instant access to financial data confirms the existence of an account and verifies the account balance in seconds. As a result, opening new accounts, transferring funds, and making online purchases are not only faster and more intuitive for consumers, they’re also less risky.
Single unified API does it all
The unified Envestnet | Yodlee Platform API handles account verification plus other use cases to simplify code, reduce integration costs, and speed your solutions to market. Gain simple, flexible access to the Envestnet | Yodlee Financial Data Platform to meet your verification needs now – and add or expand use cases as your business needs evolve.
Kabbage Case Study
- Fast, efficient, secure online account verification
- Activate users now – not later
- Confirms available funds in accounts in real time before funds transfer
- Mitigates fraud and operational risk in the online account opening process
- Easy and secure process with FastLink to connect accounts
- Enables same day ACH for expedited payments while reducing risk
- Supports PSD2 regulations and Open Banking mandates
- Securely verifies accounts in seconds vs. days
- Reduces abandonment during consumer onboarding for funding events
- Unified API handles other workflows such as aggregation and more
- Deep data and enrichment powers wider, more complex use cases