Yodlee FinApp Store(TM) Open for Developers

REDWOOD CITY, Calif., Feb. 23 /PRNewswire/ -- Yodlee, Inc., the leading provider of personal financial management (PFM) and payments solutions today announced the availability of its latest innovation, the Yodlee FinApp Store. The FinApp Store is an ecosystem where certified developers can create the next generation of financial management applications and distribute them to millions of Yodlee powered PFM users at leading banks and portals worldwide.

"We understand that no two consumers' needs are the same when it comes to money management," stated Peter Hazlehurst, SVP of Products at Yodlee. "Yodlee has spent the last 10 years building a secure, scalable data infrastructure that safely brings together disparate, personal financial information from all over the Web. With the FinApp Store, Yodlee is opening up its proprietary platform capabilities to qualified developers, enabling the creation of the next generation of online finance applications for the benefit of the growing millions of Yodlee PFM users."

Yodlee powers comprehensive money management and transactional services for more than 24 million consumers through more than 100 leading financial institutions and portals worldwide. Available to the development community now for the first time, the Yodlee Software Development Kit (SDK) enables certified FinApp Store developers to quickly and easily leverage the rich, unique data infrastructure that only Yodlee can provide to build powerful new PFM applications. FinApp Store developers can then distribute their applications into the fast growing community of Yodlee-powered PFM users around the world. The FinApp Store supports both free and paid for applications, as determined by the developer.

Applications already under development in the Yodlee FinApp Store:

• Microsoft Money Financial Data Converter
• Savings, Budget and Goal Planning Applications
• Tax Preparation and Filing Applications
• Mortgage and Loan Calculators
• Compare Me to the Network
• Reward and Loyalty Programs

"We're excited to deliver the platform technology and services that will create new opportunities for consumers to achieve the financial control they need, for financial institutions and portals to deepen their customer relationships and for developers to build impactful and valuable new businesses in financial services," added Hazlehurst.

Benefits of this innovative new ecosystem in online finance:

• For consumers: the Yodlee FinApp Store provides the ultimate personalization of financial management features – consumers can pick and choose what functionality they need for their individual situation and goals; and whatever applications they choose will all be integrated into a seamless dashboard with real-time personal data – all through their favorite bank or portal.
• For developers: the Yodlee FinApp Store creates a marketplace for distribution of the best ideas from the brightest engineers and entrepreneurs, powered by Yodlee data and capable of potential distribution to millions of consumers via hundreds of financial institutions and portals around the world.
• For financial institutions and portals: the Yodlee FinApp Store offers a compelling new revenue stream, based on providing a valued and needed service for consumers, branded and customizable to the financial institution or portal.

The patent-pending Yodlee FinApp Store is an integrated component of Yodlee 10™, the company's tenth generation technology platform, which was recently voted "Best in Show" at Finovate in New York City. Yodlee 10 delivers flexibility and personalization far beyond the scope of existing PFM solutions.

To ensure the integrity and protection of sensitive consumer data, Yodlee is implementing a strict certification program for all developers using the Yodlee SDK and participating in the FinApp Store. Before being released into the FinApp Store, applications must pass rigorous review and testing processes to ensure they meet the highest security and performance standards. Certified applications in the Yodlee FinApp Store will also provide full support for open authentication protocol, for authorization and authentication of consumers who want to use their information and applications with Facebook Apps™, Yahoo! Widgets™, Google Gadgets™ and Apple iPhone Apps™.

Are You a Developer? Register for the Yodlee Developer Webinar: February 24

Developers interested in building applications for the Yodlee FinApp Store can attend a free webinar on Wednesday, February 24 at 11:00 a.m. PT by registering at http://solutions.yodlee.com/developers_webinar022410.html?=cid241 or emailing [email protected] for more information.

The Yodlee SDK is available to FinApp Store Developers now. Yodlee 10, including the Yodlee FinApp Store for consumers, will be available for deployment by banks and portals in July 2010.  For more information about Yodlee PFM solutions, visit www.yodlee.com.

About Yodlee

Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 12,000 unique account sources and over 120,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

Yodlee is a registered trademark of Yodlee, Inc. Yodlee 10, Yodlee FinApp Store and Yodlee PersonalFinance are trademarks of Yodlee, Inc. All other products and services mentioned are the property of their respective owners.

SOURCE Yodlee, Inc.