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Q2 adds Yodlee personal finance and bill pay modules to e-banking platform

28 May 2008  |  2285 views  |  0 Source: Yodlee, Inc

Yodlee, Inc., and Q2 Software, Inc. today announced a partnership to enhance Q2's leading electronic banking platform with innovative personal financial management and bill pay capabilities from Yodlee.

The integrated Yodlee PersonalFinance and Yodlee BillPay components will be available for all Q2 customers as value-added features for the Q2 online banking experience.

"Q2 Software is helping to set the standard for excellence and innovation in online banking for financial institutions," said Anil Arora, president and CEO of Yodlee, Inc. "By adding Yodlee's proprietary personal financial management (PFM) and revenue-generating bill pay capabilities to the Q2 platform, we believe we can deliver a powerful and differentiated banking experience. We're pleased to be part of Q2 Software's growing presence in the banking industry."

"There is clear demand from both consumers and financial institutions for more functionality from the banking experience - more insights, more personalization, more value," said Hank Seale, CEO of Q2 Software. "Yodlee's PFM and bill pay capabilities, we believe, lead the market in innovation and value creation for both audiences, blending perfectly with our strategy to empower our customers to compete with the national banks by providing an integrated and flexible technology platform, and unmatched customer service."

Q2 offers a unique approach to electronic banking by delivering Online, Mobile and Voice banking all on a common platform. The enhanced end-user experience and operational efficiencies gained from a single solution have provided Q2 customers with a competitive edge to attract and retain new customers.

Yodlee PersonalFinance is an award-winning PFM application that helps automate financial tasks for consumers quickly, easily, and securely, including providing up-to-date balance and transaction details across all accounts (both at the home institution and those held elsewhere, like investments, bills, and 401k accounts), budgeting tools, spending analysis, personalized alerts, and much more. PFM is rapidly becoming a key requirement for online banking and offers the ultimate 'sticky' application for financial institutions who want to be the financial hub for their customers.

Yodlee BillPay is a next generation online bill pay solution that will help Q2's bank customers lower cost and generate significant new revenue from online and mobile bill payments, while giving consumers a better online bill pay experience. In addition to traditional ACH and paper payments, only Yodlee BillPay features a proprietary card-based payment network of over 300 card-accepting billers and a same day, fee based payment network for hundreds of national and regional billers to help consumers make last minute payments and avoid costly late fees.

Yodlee PersonalFinance and Yodlee BillPay features will be available as fully integrated components of the Q2 Electronic Banking Platform and available to all Q2 customers in late 2008.

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