Yodlee develops small business aggregation package

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.

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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