20 July 2018
Visit www.gemalto.com

Token and Envestnet/Yodlee form strategic partnership

13 November 2017  |  2345 views  |  0 Source: Token

Token, Inc., a turnkey open banking platform provider, and Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced a strategic partnership to combine their expertise in PSD2-compliant payments and financial data aggregation.

Token's open banking operating system, TokenOS⦣8222;, enables banks to generate revenue from PSD2 compliant payments and simplifies access to banks for third-party service providers, via a universal API. Token OS helps reduce the cost, enhance the security and remove friction from a wide variety of payment types, including bill pay, e-commerce, B2B payments and money transfers.

The Envestnet | Yodlee Financial Data Platform enables personalized financial apps by delivering data from more than 16,000 global sources. Using consumer permission-based access to financial accounts and transaction information supported by bank-level security, the Envestnet | Yodlee Platform and its Aggregation API deliver bank, credit card, investment, loans, rewards, and other financial account data needed for personal financial wellness, lending, and wealth advisory apps and services.

By launching a synergetic partnership that empowers both companies to leverage each other's strengths, Token and Envestnet | Yodlee can now serve EU banks with a powerful joint proposition. Combining the universality and security of TokenOS and the depth and breadth of Envestnet | Yodlee's Platform and API integration create the most compelling, secure and comprehensive open banking payment and information solution available to EU banks.

Steve Kirsch, CEO and Founder of Token, commented: "We are delighted to work with Envestnet | Yodlee to transform the future of banking. When it comes to PSD2, developers are not going to support hundreds of unique bank APIs; they will only write to one common API, maybe two. This means that banks that create their own proprietary API risk not being able to deliver the variety and freedom that customers expect in the digital age."

"Instead, banks should support a common open banking platform ⦣8364;“ one that is easy, secure, interoperable, low cost and developer friendly. Our partnership with Envestnet | Yodlee, the market-leading API aggregator, makes Token's proposition more attractive than ever for both banks and developers."

Jason O'Shaughnessy, Senior Vice President for EMEA and Australia at Envestnet | Yodlee, added: "Both Token and Envestnet | Yodlee believe that open data access is critical to enabling innovative tools that can help consumers improve their financial lives.¦nbsp;Our shared dedication to improving the banking end-user experience means that Token and Envestnet | Yodlee are a natural partnership, and it's great to see Token leverage our financial data aggregation platform to deliver secure, customer-centric solutions to their clients."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit iliad-solutions.com/Visit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12635 views comments | 6 tweets | 7 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
10044 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9617 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
6545 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
6372 views comments | 2 tweets | 7 linkedin

Featured job

Competitive base, double ote, benefits
New York, Boston, Chicago, Philadelphia, USA

Find your next job