Yodlee sets up incubator and open API for digital finance start-ups
02 May 2012 | 7948 views | 0
US account aggregation outfit Yodlee has set up an accelerator and incubator programme for start-ups to develop, test and run new digital banking applications over its FinApp open API platform.
The Yodlee Interactive API provides permission-based access to transaction-level financial data covering bank accounts, insurance, rewards programmes, and investment accounts, across any digital channel.
The company already has more than 200 customers using its cloud-based platform, and more than 300 registered FinApp development partners.
Under the new accelerator programme, Yodlee is offering development access free of charge, as well as working with incubator companies to offer one-on-one developer assistance and post production distribution and support services.
Two of the first companies to benefit from the programme include loyalty outfit MyRewardsTree, and federated identity company miiCard. Available today as a consumer managed digital passport, miiCard is working with Yodlee to develop white labelled risk management feature for banks and a Yodlee-supplied FinApp in the US and Europe this summer.
MiiCard CEO, James Varga, says: "Yodlee Interactive gives us international coverage and is helping us to create trust online."
Yodlee is now accepting applicants from non-bank start-ups for both the accelerator and incubator programmes.