Yodlee partners Central 1 for personalised financial management

Integrated money management tools

Through the deal Central 1, a Canadian wholesale financial services provider, will integrate Yodlee’s money management technology into its MemberDirect Services online banking platform (view press release). Yodlee’s technology will enable the 300 or so banks and credit unions utilising MemberDirect Services to offer integrated money management tools across their accounts, such as budgeting, spending analysis and cash flow management. The integration will give MemberDirect Services’ four million users better control over managing their finances via their online banking.

Consumers want a simple and secure way to take charge of their money and they literally want that information at their fingertips,” said Central 1 CTO, Oscar van der Meer. “We partnered with Yodlee to create a solution that meets current consumer demand but also has the flexibility to grow and innovate as those needs evolve.”

The two parties will be collaborating together on various pilot projects this year to integrate the Yodlee platform into MemberDirect Services online banking. The service should be available to clients by 2013.

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