I must admit that the first time I had ever heard of Yodlee, aka “the Account Aggregation company”, was on Jim’s NetBanker. Mainly because they haven’t been targeting Europe so far. They are making good progress internationally though, in countries like India.
As far as I am concerned, Yodlee’s presentation given by Peter HazleHurst, SVP Product Management, was one of the best ones at Finovate. Peter is a very good speaker: he knows the industry extremely well, and he has a good sense of humour.
Yodlee was known as the account aggregation company. But Peter and his colleagues have worked hard to change that perception of the company. Yodlee is a full-service financial tools provider.
Their clients are large US banks and credit unions, but they plan to target the small financial institutions soon with future large distribution deals.
The US is their core market, but they are focusing more and more on their international growth and the interface is now available in English, French, Spanish and Chinese. Peter just come back from a trip to France…
Their flagship product, the award winning MoneyCenter used by banks such as BoA, offer account opening, bill payment, funds transfer, personal finance management and long-term archives.
They leverage the web 2.0 “technologies” like AJAX to make people’s lives easier and provide an intuitive interface. Their transaction journal and their financial calendar are two excellent examples of good usage of web 2.0.
Currenty, the registration rate for their personal finance management tool is one new user every 2 seconds; they currently have over 3 million users (October 2007).