Yodlee Interactive Announces New Accelerator/Incubator Programs

REDWOOD CITY, Calif., May 2, 2012 /PRNewswire/ -- Yodlee Interactive today announced the creation of new programs designed to accelerate the pace of innovation in digital financial and related services.

Powered by the award-winning Yodlee Platform, the Yodlee Interactive financial cloud is an innovation delivery system for entrepreneurs, helping them to quickly and easily bring new ideas to market. The Yodlee Interactive application programming interface (API) provides permission-based access to transaction-level financial data covering bank accounts, insurance, rewards programs, and investment accounts, across any digital channel. Companies have used Yodlee Interactive's financial cloud for far-reaching applications, including consumer debt reduction, small business, tax, lending, targeted marketing, and eWallet applications.

Yodlee Interactive is now accepting applicants for both the Accelerator and Incubator programs.

Accelerator Program
Under Yodlee Interactive's new Accelerator Program, companies of any size or phase of development can license development access to Yodlee Interactive's financial cloud – free of charge.

Incubator Program
For qualified companies, Yodlee Interactive will provide both development access and one-on-one development assistance. In some cases, Yodlee Interactive will also provide distribution and additional support to innovative companies and entrepreneurs.

"In addition to fantastic growth in our traditional, financial institution-based PFM businesses, we have had amazing growth over the past two years in our emerging, non-bank and FinApp businesses, which form the basis of Yodlee Interactive," said Joseph Polverari, Chief Strategy and Development Officer at Yodlee and Managing Director of Yodlee Interactive. "One of our top priorities is doing what we can to encourage and support innovation, and these new programs are a great way to fuel innovative new business ideas. Working with the teams at MyRewardsTree in the United States and miiCard in Europe, as two of the first incubated companies, has been incredible and sets the stage for many others to follow."

MyRewardsTree
Available as both a destination site (www.myrewardstree.com) and soon as a Yodlee FinApp™ capable of distribution across bank and publisher websites alike, MyRewardsTree puts consumers and small businesses in control of their loyalty programs, helping them organize and maximize available rewards.

"The Yodlee Interactive Incubator Program has given us the ideal launching pad for our consumer site and MyRewards Tree FinApp," said Kitt Williams, CEO of MyRewards Tree. "Yodlee's category expertise and distribution network have advanced our growth strategy. They have truly embraced our vision."

miiCard
Leveraging the Yodlee Platform to deliver a federated "digital identity," miiCard lets Internet users prove their real identities in a completely digital format, streamlining new account openings, mitigating risk and preventing fraud in ways not previously possible. Available today as a consumer managed digital passport (www.miicard.com), there will additionally be an FI-provided risk management feature or a Yodlee FinApp available from miiCard in the US and Europe this summer.

"Our experience with the Yodlee Platform and the team has been outstanding," said miiCard CEO, James Varga. "miiCard solves a huge problem and presents a huge opportunity.  Always pushing for innovation and always thinking globally, Yodlee Interactive gives us international coverage and is helping us to create trust online."

Open Development Platform and FinApps™
Leveraging a unique and patented financial data and transactions platform, the Yodlee Interactive financial cloud includes the necessary elements (industry leading data coverage and reliability, integrated payments and transfers, and bank class security) to build the next generation of digital financial services – or any service that can be created, improved or enhanced by streamlined access to data, payments and/or digital security. In addition, Yodlee's award winning FinApp app infrastructure provides innovators with an easy way to build, deliver and distribute functionality, both inside and outside of the financial institution channel, and across any digital device.

"We've learned that Yodlee's considerable scale and distribution, open platform approach and cloud-based delivery model are perfect catalysts for innovation in digital financial and related services," said Polverari. "The elegance and maturity of the platform now makes it possible for any Yodlee Interactive customer or partner to create innovative new products and services and get them to market quickly; for example, a Yodlee Interactive customer can be given access to the financial cloud in less than a day."

Diverse, Innovative New Customers
Yodlee Interactive already has more than 200 customers leveraging the financial cloud, and more than 300 registered FinApp development partners. Notable customers and partners include: H&R Block, Concur, LearnVest, Zoho, Binksty, Plink, and hundreds of others across multiple vertical industries.

For more information about the Yodlee Interactive Accelerator or Incubator Programs, email [email protected] or visit www.yodlee.com/interactive.

About Yodlee Interactive
Yodlee Interactive is the industry's only financial cloud, supporting the open, secure and frictionless development and distribution of innovative financial services and apps. The Yodlee Interactive financial cloud supports more than 12,000 unique account sources and over 120,000 different account types for more than 200 customers and more than 300 registered developers. Yodlee Interactive is headquartered in Redwood City, California. For more information, visit http://www.yodlee.com/interactive.

About Yodlee
Yodlee created the industry's first, patented, personalized finance platform for global money management. Powering services for 7 of the top 10 U.S. financial institutions and more than 35 million consumers, Yodlee removes the friction from financial management, making it a more insightful, interactive, and actionable experience for consumers while delivering retention, engagement, and revenue for financial providers. Yodlee is driving the new era of digital banking - anywhere, anytime, on any device.

Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

SOURCE Yodlee, Inc.