LOS ANGELES City National Bank announced Monday that it is offering free account aggregation services to its personal banking clients.
The MyAccounts service consolidates online account information from financial and other organizations through a single City National Internet site. It lets customers view transactions and account balances for online banking and brokerage accounts, calculate assets and liabilities, consolidate e-mail, and track frequent flier miles through one secure password.
Yodlee Inc., the leading provider of account aggregation, is driving the service.
According to City National Bank, surveys show that a majority of consumers interested in aggregation prefer to have it provided by banks, which can offer personal investment advice and enhanced security to protect confidential financial information.