Yodlee Launches Online Account OpeningFunction

Published April 13, 2006, 1:00 a.m. EDT

|

Updated August 27, 2020, 2:14 a.m. EDT

1 Min Read

REDWOOD CITY, Calif. - (04/13/06) -- Yodlee, known for its customerrelationship management systems, said this week it has introduced anew solution designed to help financial institutions streamline andexpedite the process of opening new bank and brokerage accountsonline. Yodlee's AccountOpening allows credit unions and banks touse their website, self-service branch kiosk and other channels toopen new accounts and fund them immediately through an automatedprocess that links credit databases, normalizes data and creates adashboard in real-time so institutions can immediately assess riskfor any consumer opening an account. AccountOpening enablesfinancial institutions to seamlessly gather all required data fromnew customers and complete their initial deposit or productpurchase transaction all in the same session, decreasingabandonment and increasing transactional revenues

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Regional banks

Another out-of-state bank unveils its Florida strategy

WesBanco in Wheeling, West Virginia, has hired a team of lenders in South Florida. It plans eventually to open branches in a bid to grab a share of the region's expanding deposit market.

By John Reosti
Reporter

March 16
Technology

7 Forbes 30 Under 30 fintech founders who landed in court

The criminal cases against these former 30 Under 30 honorees highlight the dangers of prioritizing hypergrowth narratives over proper due diligence.

By Carter Pape
Technology Reporter

March 16
Regions Bank

Regions rehires Jay Darnell for commercial cards and fintech

Darnell returns to Regions, after fintech-focused stints at Visa and a community bank acquired by Huntington, as the bank accelerates its branch opening plans.

By Melinda Huspen
Tech Reporter

March 16
Regulation and compliance

13 states sue OneMain for alleged consumer violations

New York Attorney General Letitia James and 12 of her peers alleged Monday that the personal installment lender surreptitiously adds costs for unwanted products. OneMain denied the claims.

By Catherine Leffert
Reporter

March 16
Machine learning

Why OpenAI's checkout 'pivot' isn't a retreat from AI payments

While it's moving away from embedding transactions in ChatGPT to funneling purchases through third parties, analysts say the artificial intelligence lab's shift doesn't dilute the threat large language models pose to traditional card issuers.

By John Adams
Executive Editor, Payments

March 16
Commercial banking

Regions accelerates plan to refresh its branch network

The Alabama-based regional bank plans to open 135 to 150 branches over the next five years, while closing the same number. Regions' decision to accelerate its timeline by two years comes as large and regional banks try to capture more market share in the Southeast.

By Allissa Kline
Staff Writer

March 16