Originally published by Finextra
The new offering builds off Envestnet | Yodlee’s popular platform to advance the embedded finance ecosystem by accelerating the ability for developers to create hyper-personalized and actionable financial wellness experiences.
The new Developer Portal comes on the heels of 1500% growth over the last 12 months in developer participation on Envestnet | Yodlee’s platform from FinTechs and other financial service providers. This growth has resulted in hundreds of thousands of total activities on the platform and billions of API calls.
The updated experience provides easier customer onboarding, enhanced navigation, and a streamlined approach to access financial data and API implementations for developers, speeding up the go-to-market timeline. The portal is powered by Envestnet | Yodlee’s industry-leading financial data coverage and quality, which powers billions of API calls and is enabled by more than 17,000 global sources and over 500 million linked accounts. Easy-to-use tools, like an always growing library of samples, codes and apps, allow developers to rapidly test, integrate, and get to market quickly while following proper data security and protocols. Through Envestnet | Yodlee’s Quick Start offering, users of the Developer Portal can get up and running in less than 24 hours.
The Developer Portal experience also builds in access to Investment Data Enrichment, providing all users of the portal, no matter their size, the ability to create premium wealth experiences. This type of enriched investment data enables smaller FinTech companies to leverage technology used at a broader scale by large investment firms. These features are key for Envestnet | Yodlee’s goal of giving Developer Portal users tools to succeed as they grow and scale.
“The pandemic accelerated the pace of digital transformation for the financial services industry,” said Brandon Rembe, Chief Product Officer of Envestnet. “The new Envestnet | Yodlee Developer Portal enables financial service providers and FinTech innovators to simplify the process of launching products on even shorter timelines to keep up with consumer expectations for actionable financial wellness products.
“We didn’t do this alone. This refresh was made possible by our deep and collaborative relationships and partnerships throughout all aspects of the FinTech ecosystem, from small FinTechs to large corporate developers. I think that’s why we’re experiencing such a large growth in enrollment - we view ourselves as a long-term partner based on what we know developers want to get out of our portal and APIs, while supporting ever-evolving use cases.”
“We know through our work with financial service providers, small and large, that getting a product out quickly to keep up with market trends and innovation is often the top priority for developer teams. It’s no surprise that Envestnet | Yodlee’s Developer Portal has experienced such sizable growth among FinTechs and other financial service providers. Fast onboarding and a solution-focused approach let innovators focus on what they do best.” said Duy Vo, Founder of Productfy, a developer-focused banking-as-a-service provider.