Envestnet | Yodlee Delivers Hyper-Personalization to the Financial Services Industry

REDWOOD CITY, Calif., Aug. 5, 2020 -- Envestnet | Yodlee, (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, today announced its Insights Solutions, designed to help financial institutions and FinTechs grow their market share by enabling hyper-personalized digital financial experiences and providing the data needed for customer segmentation.
 
Envestnet | Yodlee's new APIs enable financial service providers to develop experiences that engage customers proactively across their financial wellness and financial planning channels. The combination of actionable insights, unique peer benchmarking capabilities and personalized views allow digital financial experiences to provide timely and impactful virtual financial assistance. These new solutions also empower financial service providers to unlock the value of data to support more informed decision making, accurate customer segmentation and actionable guidance for their customers. 
 
"Hyper-personalization is the new baseline for success, and financial institutions and FinTechs who have a more advanced understanding of consumers and tailor their offerings accordingly will have a strategic and competitive advantage, " said Brandon Rembe, SVP of Product at Envestnet | Yodlee."Through our Insights Solutions, financial service providers will have access to meaningful consumer insights faster and more affordably than by growing their own data science team."
 
A more granular understanding of consumers is no longer a 'nice-to-have' item, but a business imperative for financial institutions and FinTechs. The value of hyper-personalization within the financial services industry is estimated at between $200 billion and $450 billion1. Through machine learning techniques and algorithms, financial service providers can give consumers a 360-degree, personalized view of their finances to help them make better decisions at all stages of life such as saving for retirement, starting an emergency fund or managing monthly expenses.
 
Envestnet | Yodlee's Insights Solutions offer a range of financial wellness insights helping consumers leverage actionable guidance, such as:

  • Predictive cash flow capabilities, including projected warnings and forecasts
  • Alerts based on spending, categories, credit limits and refund monitoring
  • Spending insights that cover subscriptions and frequently-used merchants

"Personalization in financial services marks a critical frontier for the industry, and broader application of personalized services across sectors is accelerating consumer demand. These types of solutions signify an important leap forward by supplying financial service providers with the tools they need to provide high-quality, personalized customer experiences that can make a meaningful impact on their financial future," said Tiffani Montez, Senior Analyst at Aite Group.
 
The Envestnet | Yodlee Insights Solutions will be available in the third quarter of 2020.
 
About Envestnet
 
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 103,000 advisors across more than 4,900 companies including 16 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies, leverage the Envestnet platform to grow their businesses and client relationships.
 
For more information on Envestnet | Yodlee, please visit www.yodlee.com, subscribe to our blog, and follow us on Twitter (@Yodlee) and LinkedIn.

1 https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/a-technology-blueprint-for-personalization-at-scale#

Information is current only as of the date(s) indicated on the materials. We do not have any current intention, and expressly disclaim any obligation, to supplement, update or revise any of the information in these documents. The information contained in these documents should be considered accurate only as of the date of the relevant document. This information may change over time; therefore, visitors to this web site should not assume that the information contained in these documents remains accurate at a later time. Envestnet, Inc.'s press releases, presentations and printed remarks are included on this website for historical purposes only.

Except for historical information and discussions, statements set forth throughout this web site may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or other applicable laws. These statements involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially, as discussed in the company's filings with the U.S. Securities and Exchange Commission.

Envestnet, Inc.'s financial performance is subject to risks and uncertainties, some of which are discussed in forward-looking statements contained in its reports filed with the U.S. Securities and Exchange Commission. Actual results may differ materially from those described in the forward-looking statements. The stock data above is presented for informational purposes only and is not intended for trading purposes. Stock information may be delayed and reflects stock splits. Historical investment performance is not an indication of future performance.

The information provided on the Investor Relations pages is hosted by a third party. Envestnet, Inc. does not control and is not responsible for any third party content and makes no representations as to the timeliness or accuracy of such content.