Yodlee(R) (YDLE), the leading platform driving digital financial innovation, today announced an update to FastLink with its version 2.0.
This premium feature used by financial institutions and fintech innovators to access transaction-level financial data enables faster time-to-market and consumer onboarding for innovative digital financial services and apps. With the new version of FastLink, consumers will have access to a quick and easy omni-channel experience that will help them add accounts in seconds.
It can be difficult for consumers to add and verify accounts for digital financial solutions since there are more than 14,000 data sources that are constantly changing with additions, and deletions. This unique, patented technology leverages Yodlee's 16 years of experience by bringing together consumer transactional data for the largest financial providers in the world. FastLink facilitates the easy linking of external financial accounts to power any digital money management service without compromising security or privacy. According to one study, consumers with aggregated financial accounts are more engaged with their financial institution, logging in 54 percent more frequently than online bankers without aggregation. FastLink speeds up the onboarding process and enables financial app developers to seamlessly add several accounts that their users hold at different banks.
Yodlee FastLink version 2.0 focuses on increasing usability across devices while retaining all the functionality from the original version. In addition, it improves add account success rates and enables a flexible user experience. New updates, include:
Omni-Channel Experience: FastLink has been built to be fully responsive, context-aware and adaptable, with functional support across mobile, web, and tablet deployments.
Improved Efficacy and Visibility: FastLink allows consumers to add multiple accounts simultaneously and account linkage will be further enhanced with new search capabilities and keywords, additional search options, and visual enhancements, ultimately increasing success rates.
Enhanced Developer Tools: FastLink enables developers to build a flexible user experience, by easily integrating search, login, edit account, edit credentials, and balance and transactions refresh manage accounts into the user experience flow. FastLink will also provide an effective out-of-the-box experience and reduce the burden for developers to build their own.
"With the explosion of alternative financial services technologies over the last decade, it is important that both our financial institutions and fintech innovators have a way to develop tools that help them give their customers what they need as well as help them stay competitive in a crowded market," says John Bird, VP of Product Marketing and Alliances at Yodlee. "When we were developing this new version of FastLink, we wanted to make sure that it provided tools that would make accessing and creating digital solutions even easier across devices."