Monefly has signed an agreement with Yodlee that will enable Monefly help its members access data from more than 15,000 financial institutions globally. “Synchronising your financial data is one of the key backbones to Monefly’s news platform” CTO and Co-founder Justin Davey explains, “Our vision is to make it simple for our members to put all of the pieces of their financial jigsaw puzzle into a single location using Monefly and then help them understand and analyse it, so they know the cashflow and net worth in real time. If you can measure it, you can manage it and we believe we are going to be able to impact the lives of millions of people positively over next few years with Monefly.”
The data being integrated into Monefly over the next few months includes superannuation, cash, credit cards, personal debts, mortgages, assets, shares, real estate, credit scores and other investment data. By providing a holistic view of personal financial data, Monefly’s members and their advisors will gain valuable insights and a clearer understanding of their financial position, an important step to helping everyday Australians achieve their financial goals.
Monefly is a Fintech platform that provides personal membership tools that enable financial health and wealth to be easily understood, managed and continuously improved, in collaboration with professional advisors. Monefly is an independent website focused on providing tools and resources that help empower its members to grow income, reduce expenses, build assets, eliminate debt and project themselves. Monefly is free for Personal Members to use. Its Advisor Members can also use Monefly free or have the option to upgrade and pay $50 – $178 per month (+GST) to add additional professional subscription features and tools to their membership.
Find out more at www.monefly.com.
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About Envestnet | Yodlee
Envestnet® | Yodlee® is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Yodlee’s platform has proudly fueled innovation for financial institutions (FIs) and fintech for over 17 years ultimately helping consumers get better lending rates, lower fees, higher returns, and more. They partner with more than 1,000 financial institutions and fintech innovators, including 11 of the top 20 U.S. Banks, enabling a massive data network associated with tens of millions of consumers who use platform-related personalised apps and services.
Notably, 71% of the financial data is gathered via structured data feeds with financial institutions. The power of Envestnet | Yodlee and their unique point of difference begins with the massive scale of financial data within their platform which is utilised to fuel Envestnet | Yodlee’s Data Intelligence capabilities. Yodlee’s unique point of difference also extends to Envestnet | Yodlee’s bank-level security, 78 issued patents, best-in-class data from over 15,000 sources, and their formal agreements with leading financial institutions for responsible and secure management and exchange of data.
Find out more at: www.yodlee.com