GLASTONBURY, Conn. – Open Solutions Inc. announced a deal yesterday that will give its credit union clients access to the FinApp system from Yodlee.
The deal will give Open Solutions access to a wider breadth of applications, as well as a personal financial management platform it can offer its small credit union and bank customers. Open Solutions launched its own financial application store in the spring.
The partnership also gives Yodlee access to a large group of smaller financial institutions. Yodlee had previously focused on the largest banks to distribute its products and services.
Most recently, Bank of America Corp. and Citigroup Inc. announced they had used the FinApp platform to develop parts of their online banking services.
Although Yodlee works with other core providers to offer PFM, this is the first core channel partnership it has for its FinApp platform. Credit unions and banks that offer PFM tools, which let consumers set financial goals and chart spending, typically devote large portions of their online banking sites to it. The FinApp system, by contrast, allows banks to add and remove services (such as tax preparation) as needed without disrupting the rest of their websites.
