Yodlee, Inc., the leading provider of online and mobile personal finance management (PFM) and payments solutions, and Money Dashboard, an online, personal finance management solution for UK consumers, today announced plans to open the Money Dashboard personal finance management portal, powered by Yodlee PersonalFinance(TM), to all UK consumers in the first half of 2010.
Recent Money Dashboard research demonstrates how 75 percent of UK consumers are using online banking, up from 54 percent in 2005 (BBA annual report), which illustrates that the UK market is primed for the shift to PFM. Recent analyst data further confirms that PFM solutions, which allow consumers to view and interact with all of their financial accounts in one place, are in high demand by consumers, with nearly one in four seeking a better online PFM solution (Javelin Strategy & Research).
Money Dashboard's free, easy-to-use online personal finance management solution helps consumers build confidence in their financial situation, bringing clarity and confidence to financial decision making. With its new service, Money Dashboard will alter the consumer's view of financial products and shift the focus from credit management to growing savings and building wealth.
Gavin Littlejohn, Money Dashboard's CEO, explains: "We have spent four years addressing the most effective ways to alleviate growing consumer problems including a lack of financial awareness, management and control. Through the new partnership with Yodlee, in an effort to organize and update consumer data safely and securely, we have built a user experience to provide insight into one's individual finances, and help the customer identify financial products that best meet their needs."
Yodlee is the leading provider of secure and personalized online PFM services in the U.S., powering 85% of the industry, with more than 20 million consumers at leading bank and portal sites.
"Consumer anxiety over finances is not an American phenomenon," says Yodlee CEO, Anil Arora. "Our research clearly indicates that online PFM services, offered by both financial institutions and portals, help consumers prevent late fees, protect against fraud, budget more effectively, and reduce financial anxiety. We're thrilled to be working with Money Dashboard to expand the use of PFM services in the UK market."
Behind Money Dashboard is a noteworthy board comprised of some of Scotland's biggest business leaders, including Chairman Stuart Sinclair, the former CEO of Tesco Personal Finance and GE Capital in the UK and China, and David Robinson, founder and former CEO of Bright Grey.
About Money Dashboard
Founded in 2006, Money Dashboard reduces financial stress by giving users real control over their money and improved budgeting. It saves time and hassle of keeping track of everything and gives timely and relevant alerts on ways to save money. Online financial accounts including savings and current account; credit and store cards and mortgage account information are brought together into one place. Users tag transactions and set budgets - giving a better understanding of where money is being spent, and sending out email and text alerts of budget overspend, suspicious transactions or important events. For more information, log on to www.moneydashboard.com.
Leading financial institutions and portals trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodlee's proven personal finance management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure way for consumers to manage all of their financial tasks anytime, anywhere, forever. Yodlee makes financial institution and portal websites essential to their customers and generates new deposit and revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 12,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals offer Yodlee-powered solutions to millions of customers worldwide. Yodlee is headquartered in Redwood City, California. For more information, log on to www.yodlee.com.
Yodlee is a registered trademark of Yodlee, Inc. Yodlee PersonalFinance is a trademark of Yodlee, Inc. All other products and services mentioned are the property of their respective owners.
First Call Analyst:
SOURCE: Yodlee, Inc.
CONTACT: Sharon Nieuwenhuis, RLM Public Relations for Yodlee, Inc.,
Web Site: http://www.yodlee.com/