22 October 2017

First Union enters aggregation market with Yodlee

08 November 2000  |  2699 views  |  0 First Union enters aggregation market with Yodlee

US top six bank First Union has contracted with Yodlee for the delivery of account aggregation services to its retail customer base.

The aggregation software will offer customers one-click access to all their financial information, including online banking, billpay, brokerage, mortgages and other accounts from First Union and other financial institutions. First Union is also planning to utilise Yodlee's single sign-on technology, which enables customers to sign-in with their First Union password to gain access to all their online accounts.

David Carroll, executive vice president and chief e-commerce officer, First Union, says the new service will provide clients with a "set of online tools to manage their financial lives in a safe, secure and authenticated environment."

He says the service will adhere to the BITS industry standards for security and privacy expected later this year.

More than 90 million people are expected to use aggregation services by 2005, according to US Bancorp Piper Jaffray. Of announced deals, Yodlee claims over 75% market share within the North American financial services industry through implementations at Chase, Citigroup, ABN Amro, Morgan Stanley Dean Witter, and E*Trade.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chase launches account aggregation service

Chase launches account aggregation service

17 October 2000  |  5354 views  |  0 comments
First Union to offer mobile banking

First Union to offer mobile banking

16 October 2000  |  2664 views  |  0 comments
Bank of Montreal tests mobile account aggregation

Bank of Montreal tests mobile account aggregation

03 October 2000  |  3125 views  |  0 comments
VerticalOne goes global with account aggregation

VerticalOne goes global with account aggregation

19 September 2000  |  3625 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.atos.netvisit www.innotribe.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
13556 views comments | 17 tweets | 28 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
12480 views comments | 22 tweets | 28 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9611 views comments | 13 tweets | 10 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
9282 views comments | 12 tweets | 23 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8624 views comments | 9 tweets | 18 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job