Introducing Yodlee Enterprise API for Financial Institutions

Innovate faster. Unite disparate internal systems. Safely work with third-party developers. All without exposing internal systems to risk.

Financial Institutions (FIs) have long wanted to take advantage of third-party development in order to drive faster innovation and ultimately, open up new revenue channels. However, most FIs have incredibly complex, disparate systems along with stringent security, regulatory, and compliance controls, all of which prevent them from doing so.

Yodlee's Enterprise API provides FIs with their own customizable application programming interface (API), purpose built and co-branded for the individual financial institution, to help them accelerate innovation with internal and external third party developers. Yodlee’s Enterprise API creates a single API, with a custom developer portal, which connects all internal bank systems, and only exposes data to developers in a secure and compliant way, allowing financial institutions to innovate with speed, agility and security.

Leverage a Unique Data Network to Power Innovation
The Enterprise API offering leverages Yodlee’s Data Network and its years of experience of securely providing access to financial data through its own API's to many of the largest financial institutions and innovative online companies.

Yodlee’s unique, proprietary Platform and its Data Network connect financial data from more than 12,500 global sources.

Importantly, more than 75% of this data comes from direct data connectivity with leading FI’s which enables speed and performance and reflects the strength of Yodlee’s connection and relationships. Of note, through the Yodlee platform, all transactional data is put through a proprietary 12-step process to enhance and enrich the data with merchant identification, categorization, and geo-tagging, while scrubbing data for accuracy and risk decisioning. With millions of users, billions of transactions, and more than 27 million API calls per day, Yodlee’s trusted Data Network provides the richest set of data to power any API or service.

Benefits to Developers and Innovators:

• Distribution – Finally, a secure way for developers to create new apps and ideas specifically for banks and their customer base
• Secure access – To data long hidden and locked in legacy systems, freed
• Power – To innovate, create, inspire with mashups of available data to design new customer experiences and interactions

Benefits to Financial Institutions:

• Speed to market – Safely expose data structures for application development. Implement new apps in weeks, not years.
• Lower costs – Tools, a custom developer portal, sample code, API library, and community assets to spearhead quicker and more efficient development cycles.
• Security – Exposes bank API in a secure and compliant way, decreasing risk and enabling banks to innovate faster.
• Access to innovation – Via a wide world of internal and external developers to create new apps or functionality that can be rapidly deployed in a secure bank environment