Yodlee Interactive Powers The Next Class Of Financial Tech Innovation With Leading Incubators Across The Country

REDWOOD CITY, Calif., Aug. 1, 2012 /PRNewswire/ -- Yodlee, Inc., the industry's first financial cloud for global money management, continues to power innovation by partnering with entrepreneurs at top incubators and seed funds throughout the U.S. With Yodlee's patented Aggregation and Categorization Application Programming Interfaces (APIs), which provide permission-based access to users' bank, credit card, investment and loan accounts, startups can power a new era of personalized, interactive money management.

Startups including 10Sheet (TechStars), Wallaby (MuckerLab), ReadyForZero (Y Combinator & 500 Startups), and Coinbase (Y Combinator) are using secure data from Yodlee's financial cloud to improve and build out new products. The emerging financial technology includes tools that help both businesses and consumers. For example, 10Sheet is the modern bookkeeping service that frees small businesses from complicated software; Wallaby Financial enables users to optimize their credit card rewards spending with a single plastic card; ReadyForZero helps consumers reduce debt faster; and Coinbase, a bitcoin payments platform, enables its users to send and receive money, instantly and securely, anywhere in the world.

"Over the last year, Yodlee has proven to be a true proponent of financial services innovation. As a young company, we often find ourselves innovating first and figuring out the details later. The Yodlee team and platform helped make this possible," said Rod Ebrahimi, CEO of ReadyForZero.

"We've seen an overwhelming demand for the Yodlee platform across many vertical markets. Our goal is to make the platform available everywhere that value can be created. We've done so through our own programs, and by working with organizations including incubators and universities that stimulate innovation," said Joe Polverari, Chief Strategy and Development Officer at Yodlee and Managing Director of Yodlee Interactive. "We want to maximize distribution to those who innovate the fastest, and give the platform over to the wisdom of the crowd. When innovation occurs, consumers win."

Working with leading incubators enables Yodlee to bring the power of its platform to smaller organizations in an affordable way, sharing the spirit of innovation.

Entrepreneurs at leading incubators are using Yodlee's platform to create innovative financial applications, such as a money management app that reduces debt or tracks expenses, investment advice based on users' real-time portfolios, rewards for users for shopping in their merchant network, and dozens of other interesting applications that help consumers and small businesses interact with their finances. Companies in 22 different vertical markets are already leveraging the Yodlee platform to power their business ideas.

"Ensuring we have a reliable, secure method for accessing our customers' financial data is critical to our business. Yodlee's incubator program is allowing Wallaby to run a lean operation and build great functionality for our users," said Matthew Goldman, CEO of Wallaby.

With a focus on powering the future of financial technology innovation, Yodlee Interactive recently announced its own incubator and accelerator programs in addition to partnering with the leading incubators, further increasing accessibility for entrepreneurs. More details on the Yodlee programs can be found at www.yodlee.com/interactive.

For more information about leveraging the Yodlee Platform to power new ideas and services, contact Karim Bhalwani, Business Development Lead at Yodlee, at [email protected] or visit http://yodlee.com/solutions-developer.html.  

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

For more information, visit www.yodlee.com.

SOURCE Yodlee, Inc.