Growing Demand for Inter-Bank Funds Transfers and
"Instant" Account Verification Driving New Opportunities From
the Online Channel
REDWOOD CITY, Calif. -- Yodlee, Inc. today announced that its
inter-bank funds transfer solution - Yodlee FundsTransfer - launched in
the market just nine months ago, has already moved more than $1 Billion
and has initiated over 500,000 transfers.
Yodlee FundsTransfer is an online, inter-bank funds transfer
application that increases the speed and reduces the risk of online
money movement between any two financial accounts. Yodlee FundsTransfer
supports both challenge deposits as well as a unique "instant"
account verification method, which Yodlee pioneered, to authenticate
users, offering more flexibility and immediacy for consumers. Data shows
that users prefer the instant verification method more than 80% of the
time when given an authentication option.
"Online funds transfers drive tangible results in online
activity and growing deposits," said Anil Arora, president and CEO of Yodlee. "By using the underlying Yodlee Platform, Yodlee
FundsTransfer can immediately and securely move money between any
depository financial institutions in the U.S. This is a natural
extension for any online banking and online account opening service to
provide a rich and valuable online experience for consumers."
Key Highlights of Yodlee FundsTransfer:
* Account balance displayable in to and from accounts
* The industry's latest cut-off times
* Instant or challenge deposit account verification
* Scheduled and recurring transfer options
* Individual transfer modification or cancellation
* Configurable exceptions management platform
* Online customer service tool
* Daily audit files
* Flexible transfer fee configuration
* Hands on risk management
For more information Yodlee FundsTransfer and Yodlee
AccountVerification, visit www.yodlee.com or email email@example.com.
Leading financial institutions trust Yodlee to power critical
online banking applications that increase profitability and movers with a truck drive more
value from the online channel. Yodlee's proven consumer banking,
payments solutions, wealth management, and risk management applications
unify all personal financial account information to deliver a simple,
centralized and secure way for consumers to manage all of their
financial tasks - any time, anywhere. Yodlee makes financial
institutions' websites essential to their customers and generates
new revenue opportunities. Over 100 leading financial institutions and
portals, including AOL, Bank of America, Fidelity, JPMorgan Chase,
Merrill Lynch, and MSN, today offer Yodlee-powered solutions to millions
of customers worldwide. Yodlee operates in the United States and Europe
and is headquartered in Redwood City, California. For more information,
Yodlee is a registered trademark of Yodlee, Inc. All other products
and services mentioned are the property of their respective companies.