Postilion adds Yodlee tools to Web banking package
06 May 2008 | 2064 views | 0
Yodlee and Postilion, a leading provider of integrated software solutions for self-service banking and payments and a division of S1 Corporation (Nasdaq: SONE), today announced a partnership to integrate Yodlee PersonalFinance and Yodlee DirectPay into Postilion's Retail and Business Internet Banking solutions to enable Postilion's' financial institution customers to deliver stronger online banking solutions and develop new revenue-generating opportunities via card-based online bill payment.
Yodlee PersonalFinance is an award-winning personal financial management (PFM) solution that gives consumers convenience, insight, and control over their finances, and helps financial institutions become the primary, trusted financial center for their customers, regardless of where their accounts are held. Yodlee PersonalFinance helps consumers easily manage spending, set budgets, monitor transactions, review cash flow trends and predictions, and guard against fraud. With Yodlee PersonalFinance, consumers can manage, interact with, and transact upon virtually any held or held-away account through a single, consolidated online experience at their primary financial institution.
Yodlee DirectPay is Yodlee's proprietary card-based payment network. Yodlee's over 300 DirectPay billers represent over 40 percent of major U.S. billers by volume today and give most consumers an opportunity to pay nearly half of their monthly bills with a card. For consumers, it means the flexibility for later payments, the ability to earn rewards points, and, in most cases, same-day payment credit. For financial institutions that issue credit or debit cards, DirectPay opens up significant new sources of interchange revenue driven by bill pay.
"Today's community bank and credit union consumers and small business customers demand a richer, full featured self-service banking and payments offering, including the ability for more automated, holistic financial management and more control and flexibility over payments," said Pierre Naude, Senior Vice President and General Manager, Postilion Americas. "Yodlee has demonstrated leadership in delivering easy-to-use PFM capabilities and card-based bill payments and we are pleased to announce our partnership with them to deliver our customers these enhanced bill payment options, as well as new fee income opportunities."
"Research shows that a majority of users want PFM and card pay capabilities as a feature of their online banking solution," saiid Anil Arora, President and CEO of Yodlee, Inc. "Working with leading channel partners like Postilion enables us to make this functionality available to a broader bank and consumer segment. Consumers can finally gain control over their finances, and the ability to make payments how and when they want; while financial institutions can greatly improve customer satisfaction and open up valuable new sources of revenue."
The Postilion self-service solutions, including Retail and Business Internet Banking, Voice Banking, ATM Driving, Card Management, and Mobile, are packaged and developed to run on a single platform, easily configurable and administered through a single management portal to meet the varying needs of community banks and credit unions. These solutions can be deployed in an ASP or on-premise environment.
The Yodlee PersonalFinance and Yodlee DirectPay features are scheduled to be available as fully integrated components of the Postilion solutions suite to all US Postilion customers in Q3/08.