The surge of interest in personal financial management services through bank Web sites requires banks to aggregate the disparate account information of their customers – which according to Yodlee, can include up to 25 checking, savings, credit, utility, loan and other accounts.
Yodlee, a key player behind the aggregation technology for clients like Bank of America, announced last week it’s Yodlee Data Engine reached a milestone 11,000 financial services providers through whom it can unify and manage data for directly connecting account info for end-users’ billpay or personal financial management needs.
“As financial services continue to move online and become more distributed, the need to unify and reliably deliver varied account data is essential,” says Peter Hazlehurst, Yodlee’s svp of product development. “What we’ve done is built the equivalent of a utility.”
