Yodlee Launches Online Account OpeningFunction

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

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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

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