REDWOOD CITY, Calif., April 17, 2012 /PRNewswire/ -- Yodlee®, the leading provider of digital money management solutions, today announced a new partnership with Central 1, the largest wholesale financial services provider in Canada. Central 1 will integrate Yodlee's market-leading technology into its powerful MemberDirect® Services online banking platform. Central 1 is Yodlee's first wholesale financial partner in Canada.
The 300-plus credit unions and banks which utilize MemberDirect Services will now be able to provide fully-integrated money management tools including budgeting and spending analysis, and cash flow management across all their accounts. MemberDirect Services' four million users will have more control over their money and the security of managing it through the website of their trusted financial institution.
"Consumers want a simple and secure way to take charge of their money and they literally want that information at their fingertips," said Oscar van der Meer, Chief Technology Officer at Central 1. "We partnered with Yodlee to create a solution that meets current consumer demand but also has the flexibility to grow and innovate as those needs evolve."
Offering personalized financial management is increasingly important to customers who are looking for a primary financial institution through which they manage their money.
"Central 1 really challenged us to test the flexibility of our Platform to be able to simultaneously meet the needs of so many different, forward-looking institutions and credit unions," said Bill Parsons, Chief Customer Officer at Yodlee. "With Central 1's tremendous reach, powering banking services for more than half of all credit unions in Canada, we will together be able to deliver unmatched, personalized services for the millions of members served, helping to empower consumers to make better financial decisions."
Through a number of pilot projects which launch in 2012, Central 1 will be working with Yodlee to fully integrate the platform into MemberDirect Services online banking and make it available to all clients by 2013.
For more information about the Yodlee Platform, and other Yodlee products and services, visit www.yodleefinapps.com. For more information about Central 1's direct banking services, www.central1.com/thinkingforward.
About Central 1 Credit Union
Central 1 is the central financial facility and trade association for the B.C. and Ontario credit union systems, providing liquidity management, payments, Internet banking and trade association services to member credit unions, and banking and transaction services to customers in the corporate and public sectors. For more information, visit www.central1.com.
About Yodlee, Inc.
Yodlee created the industry's first financial cloud for global money management. Powering services for 7 of the top 10 financial institutions in the U.S. and more than 30 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.
Yodlee is a registered trademark of Yodlee, Inc. Yodlee PersonalizedFinance is a trademark of Yodlee, Inc. Any other products and services mentioned are the property of their respective owners.
SOURCE Yodlee, Inc.