31st January, 2017
Strands announces partnership with Envestnet | Yodlee, bringing together the two companies’ market-leading solutions: Personal Finance Management (PFM) and financial account aggregation, respectively. This enables financial institutions to differentiate themselves and implement next-generation PFM that boasts a powerful account aggregation functionality.
Strands has been at the forefront of PFM since 2008. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. The strategic partnership between Envestnet | Yodlee and Strands will further enhance Strands suite of digital banking solutions by providing expanded coverage across more than 15,500 data sources worldwide.
“Propelling the next generation of data-driven financial solutions is core to our mission, and we’re thrilled that Strands has chosen the Envestnet | Yodlee Aggregation API to bring new, digital experiences to its many financial customers across Europe and Australia,” said Jason O’Shaughnessy, Senior Vice President, EMEA and Australia at Envestnet | Yodlee. “By powering Strands personal financial management solution, we’re helping Strands provide a truly seamless and automated experience to their users.”
This alliance between Strands and Envestnet | Yodlee is designed to offer banks a direct path to digital banking transformation. Tailored to end user preferences and behavior, it aims to guide better financial decisions and improved financial wellness. Customers can view and manage accounts held with different banks from one single source, manage expenses, save for personal goals, view investments and more. For financial institutions, it is an opportunity to integrate customer-empowering financial products. Banks need to provide their customers with more reasons to visit their site and they turn to engaging financial tools and aggregation in order to do so. By using valuable insights about consumer financial behavior, retail banks can reliably assess their offers and create a data-driven approach to building better services for their customers.
“We're honored to partner with Envestnet | Yodlee, an organisation that offers leading aggregation services,” says Strands General Manager Pau Velando. “Our goals of supporting global financial innovation are aligned and we are proud to boost financial technology potential together as well as the future of digital banking transformation”.
Strands is the FinTech partner for banks. With the mission of delivering best-in-class digital money management software (PFM & BFM), Strands leverages more than 10 years of expertise in Big Data and machine learning. Today Strands powers FinTech innovation in over 450 banks and serves more than 100 million banking customers worldwide.
About Envestnet | Yodlee
Envestnet, Inc. (NYSE: ENV) is the leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet enables a transparent, independent, objective, and fiduciary standard of care, and empowers enterprises and advisors to more fully understand their clients and deliver better outcomes.
Envestnet’s Advisor Suite enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, personalized financial apps and services for millions of consumers. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.
More than 52,000 advisors and 2,500 companies including: 16 of the 20 largest U.S. banks, 38 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.