Yodlee today announced a framework agreement in which Vodafone UK will exclusively re-sell Yodlee's mobile banking solution through its Target program.
Yodlee Mobile, which will be individually branded for each UK financial institution, provides customers with easy, secure access and proactive monitoring across multiple financial accounts (banking, investments, bills, credit cards, etc). Access is available through a mobile WAP browser as well as two-way text messages, and alerts can be received on email as well as through text.
Two major UK financial institutions have already signed up for the Vodafone/Yodlee Mobile Banking solution, and will launch by year end.
"Vodafone has proven itself an expert in delivering mobile solutions," said Joseph Polverari, senior vice president of strategy and development at Yodlee. "Combined with Yodlee's expertise in delivering personal financial content from virtually any online source, this solution represents a massive opportunity to create value for financial institutions and consumers alike. We are thrilled to be partnering with Vodafone UK to bring to market a whole new mobile banking experience."
Key Yodlee Mobile Highlights for Consumers:
- Secure Access - to account balances and transactions from virtually any online financial source (banking, investments, bills, credit cards, retirement accounts, rewards programs, and more)
- Increased Convenience - from being able to monitor accounts, pay bills, and transfer funds remotely from a mobile device
- Easy Access - every critical feature is designed to be accessed with two clicks or less
- Unique Alerts - including fraud monitoring alerts, bill due reminders, and account threshold notifications
- Optimized Presentation of information - because Yodlee Mobile uniquely formats content for each device for an optimized user experience
- Ubiquitous Device Support - Yodlee Mobile is available on any mobile browsing device that supports WAP2, XHTML, and/or i-Mode, and text messaging is available on 100 percent of current phones
Key Yodlee Mobile Highlights for Financial Institutions:
- Fastest Time to Market - most institutions can be mobile-enabled for a standard pilot in less than a month from project inception
- Universal Support - Yodlee Mobile supports all financial account types, such as current accounts, credit cards, savings accounts
- Low Integration Costs - Yodlee Mobile solutions typically require little integration work, which translates into low cost, fast deployment and minimal involvement from a financial institution's technology team
- Full Control - using Yodlee Mobile extends a financial institution's brand, and allows the financial institution to control which accounts consumers may access via the mobile channel
- Increased Loyalty - offering Yodlee Mobile helps a financial institution differentiate its service and build loyal consumers by giving them a convenient mobile access channel they can't get anywhere else
- New Revenue - Yodlee Mobile may be offered as an extra-cost, premium service to generate new revenue or simply as a value-added retention mechanism