Yodlee develops small business aggregation package

Yodlee has teamed up with OneCore to create a new aggregation package specifically designed to help financial institutions meet small business demands for more powerful account management services.

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Yodlee develops small business aggregation package

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Using software from OneCore, the new service extends the functionality of Yodlee's consumer-oriented account aggregation by offering tools that allow small businesses to take action on aggregated data.

As well as being able to display their different financial accounts on a single Web page, small businesses will be provided with integrated account statements of personal and business financial account information; notification alerts of key business account activity such as low balances and pending deposits; and the ability to download online financial data to be integrated with a variety of offline business accounting software packages, such as QuickBooks.

The Yodlee-OneCore solution can be extended to incorporate revenue-based products of the financial institution such as applications for credit cards, business loans and equipment leases. The solution also enables a financial institution to integrate small business services such as bill payment, payroll, 401k, and insurance.

The Yodlee-OneCore product is designed to be installed onsite at a financial institution and can be customised to meet the unique needs of each institution, say the vendors.

Anil Arora, President and CEO of Yodlee, says: "Within the small business sector, there is a large, unmet demand for a Web based solution that combines the power of aggregation with specialised small business applications."

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