The Atlanta online brokerage Scottrade Inc. announced that it is using software from Yodlee Inc. to offer account-to-account transfer capabilities.
Scottrade said last week that its Money Direct service lets customers initiate transfers to and from their various accounts at other financial companies through the automated clearing house network.
People with individual and joint accounts can use Money Direct to set up one-time or recurring transfers, Scottrade said.
Rodger Riney, Scottrade's president and chief executive, said in a press release that the service "will give our customers the ability to fund their accounts automatically, making it easier for them to make trading decisions when the market moves."
Yodlee is known for its aggregation technology. When it introduced its account-transfer product last year, the Redwood City, Calif., vendor said that knowing details about a customer's accounts, including balances, account numbers, and online banking passwords, made it easy to expand into transfers.
