AUSTIN, Texas, June 12, 2017 /PRNewswire/
-- Envestnet | Yodlee (NYSE: ENV), a leading data
aggregation and data analytics platform powering dynamic,
cloud-based innovation for digital financial services, today
announced the launch of its Personal Financial Wellness Solution at
the Digital Banking Summit. The Envestnet | Yodlee Personal
Financial Wellness Solution is a suite of applications and APIs
that leverages enriched data and artificial intelligence to move
beyond organizing historical financial data, helping financial
institutions and fintech developers provide actionable, financial
guidance to their customers across a spectrum of devices, user
interfaces and platforms.
The Envestnet | Yodlee Personal Financial Wellness Solution
enables financial institutions and fintech developers to provide
actionable tools to help consumers identify their projected OK to
Spend balance and easily Save for a Goal. By applying Envestnet |
Yodlee's advanced data intelligence to its enriched transaction
data of over 15,000 data sources, financial service providers can
derive actionable information from consumers' financial data in
order to measure, guide and improve consumers' financial
health.
OK to Spend
Core to the Personal Financial Wellness Solution is OK to Spend,
which synergizes predictive analytics and user feedback to deliver
smart financial forecasting. OK to Spend can be consumed as a
financial application or a fully RESTful API framework that enables
financial service providers to create forward-looking forecasts
that organize and predict recurring income and financial
obligations along with personalized notifications for financial
events and projected balances. OK to Spend analytics is run across
the consumers' primary spending accounts (cash and credit card)
regardless of which financial institution they primarily bank with,
in order to provide a holistic view of their finances.
Patent-protected machine learning and data analytics enable the
OK to Spend algorithms to identify sources of recurring income and
accurately predicts future income, accounting for anomalies.
Similarly, OK to Spend identifies recurring and forecasted
financial obligations, while accounting for fluctuations determined
from historic data.
Save for a Goal
The Save for a Goal application allows consumers to easily set
and track savings goals. The application facilitates money movement
across different accounts at a specific time frequency and allows
customers to better track their goals by allowing consumers to
allocate multiple goals to a single account, or spread a single
goal across multiple cash and investment accounts. Save for a Goal
provides visual data and notifications such as progress bars,
charts, graphs and alerts, engaging customers with the option to
flex and prioritize between goals.
"Relationship-based banking has been the key to success and
customer loyalty for financial institutions for years. As more
consumers continue to use digital channels, they're expecting banks
to offer personalized user experiences that helps them reach their
financial goals," said Katy Gibson,
Vice President of Product Applications at Envestnet | Yodlee. "By
using the Envestnet | Yodlee Data Intelligence Platform, our goal
is to empower financial service providers to create personalized
and actionable insights and recommendations for consumers. Helping
consumers meet their financial goals is the best way to build
lasting customer relationships."
For more information on the Envestnet | Yodlee Personal
Financial Wellness Solution, please visit www.yodlee.com to learn
more about the company's data intelligence platform for financial
wellness.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is the leading provider of
intelligent systems for wealth management and financial wellness.
Envestnet's unified technology enhances advisor productivity and
strengthens the wealth management process. Envestnet empowers
enterprises and advisors to more fully understand their clients and
deliver better outcomes.
Envestnet enables financial advisors to better manage client
outcomes and strengthen their practices. Institutional-quality
research and advanced portfolio solutions are provided through
Envestnet | PMC, our Portfolio Management Consultants group.
Envestnet | Yodlee is a leading data aggregation and data analytics
platform powering dynamic, cloud-based innovation for digital
financial services. Envestnet | Tamarac provides leading
rebalancing, reporting, and practice management software for
advisors. Envestnet | Retirement Solutions provides an integrated
platform that combines leading practice management technology,
research, data aggregation, and fiduciary managed account
solutions.
More than 55,000 advisors and 2,500 companies including: 16 of
the 20 largest U.S. banks, 38 of the 50 largest wealth management
and brokerage firms, over 500 of the largest Registered Investment
Advisers, and hundreds of Internet services companies, leverage
Envestnet technology and services. Envestnet solutions enhance
knowledge of the client, accelerate client on-boarding, improve
client digital experiences, and help drive better outcomes for
enterprises, advisors, and their clients.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel.
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SOURCE Envestnet | Yodlee