Business Editors/Technology Writers
REDWOOD CITY, Calif.--(BUSINESS WIRE)--July 22, 2008--Yodlee, Inc., today announced that Yodlee PayToday â Yodleeâs leading expedited payments solution â is now available as a revenue generating addition to any financial institutionâs online banking website. With Yodlee PayToday, financial institutions can take immediate advantage of the opportunity to generate new fee revenue by offering their customers the convenience of guaranteed, same-day electronic payments to hundreds of national and regional billers across multiple biller categories, including: credit cards, mortgage, auto finance, insurance, utilities, cable and wireless.
An Opportunity for New Revenue
Recent research points to rapidly increasing demand for fee-based, expedited payments:
Over 35 percent of U.S. consumers use expedited payments today 175 percent of the top 50 U.S. banks are offering or planning to offer expedited payments 2Fee revenue from expedited payment services will grow to roughly $1.7 billion by 2009 â a CAGR of 11 percent. 3
âWe think the data is very convincing, leaving little doubt that there is growing consumer demand for expedited payments, in particular through the online channel,â said Joseph Polverari, SVP Strategy and Development at Yodlee. âPart of the difficulty in converting consumer demand into financial institution revenue, lies in having a meaningful network of mainstream billers. Through Yodlee PayToday, Yodlee is able to deliver hundreds of well-known national and regional billers, such that a typical bill paying consumer could expect to be able to pay four or more monthly bills on an expedited basis, as necessary. This translates into a very big revenue opportunity for financial institutions. Weâre not aware of any provider, other than Yodlee, that can deliver as rich an assortment of relevant billers across all of the major biller categories.â
Easy Installation/Integration with Existing Solutions and Websites
âAt Yodlee, we recognize that online bill pay is becoming cost prohibitive for many financial institutions, especially in todayâs difficult economic environment,â said Bill Parsons, SVP Field Operations at Yodlee. âIn response, weâve made Yodlee PayToday available on a stand-alone basis, ready to integrate into existing solutions with little effort and no service disruption. The feedback weâve been receiving is consistent and positive â Yodlee PayToday is a great, low cost way to get started generating new revenue now, while at the same time establishing the foundation to leverage additional revenue generating Yodlee products in the future. Our new solutions, like Yodlee PayToday, make it easier than ever to start with one Yodlee feature or component and migrate up to the full solutions suite over time.â
Several institutions are already in deployment with Yodlee PayToday, as one of several Yodlee powered ways to re-coup the costs and generate new revenue from online bill payment.
Key Benefits of Yodlee PayToday:
Easy integration into existing online banking and bill payment servicesBroadest market reach to hundreds of national and regional billersEnd-to-end electronic execution of transactions to lower costs and increase profitsEasy migration up to additional Yodlee products
Yodlee PayToday is available now as a revenue generating enhancement to existing solutions or as an integrated component of Yodleeâs comprehensive online bill pay solution â Yodlee BillPay PayItAll.
Key Benefits of Yodlee BillPay PayItAll:
Pay any billerLow cost, next-day electronic payments standardProprietary, revenue generating credit and debit card-based paymentsRevenue generating, fee-based expedited paymentsMobile paymentsIntelligent payment routing (for least cost and/or most profit)Complete electronic presentment for nearly 3,000 billsRisk based and good funds disbursement modelsOptional integration with Yodlee PersonalFinanceâ¢ and Yodlee FundsTransferâ¢Complete customer care (Tier 1 and 2)Flexible deployment optionsFull conversion capabilities
More Information / Free Webinar
Yodlee BillPay PayItAll and Yodlee PayToday are available as fully hosted, partially hosted or enterprise based solutions. For more information about Yodlee solutions and ROI, or to sign up for a free webinar on Yodlee BillPay PayItAll or Yodlee PayToday, please visit www.yodlee.com or email firstname.lastname@example.org.
Leading financial institutions trust Yodlee to power critical online banking applications that increase profitability and drive more value from the online channel. Yodleeâs proven personal financial 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 â any time, anywhere. Yodlee makes financial institutionsâ websites essential to their customers and generates new revenue opportunities. Over 100 leading financial institutions and portals today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California. For more information, visit www.yodlee.com.
Yodlee is a registered trademark of Yodlee, Inc. Yodlee BillPay PayItAll, Yodlee DirectPay, Yodlee PayToday, Yodlee PersonalFinance and Yodlee FundsTransfer are trademarks of Yodlee, Inc.All other products and services mentioned are the property of their respective owners.
1 Edgar Dunn & Co.
2 Aite Group
3 Javelin Strategy & Research
Yodlee, Inc.Melanie Flanigan, email@example.comSHIFT CommunicationsColleen Wickwire, firstname.lastname@example.org
State Keywords: CaliforniaIndustry Keywords: Technology; Internet; Software; Other Technology; Professional Services; Banking; Finance; Other Professional ServicesSource: Yodlee, Inc.
Authoritative analysis and perspective for every segment of the payments industry
Authoritative analysis and perspective for every segment of the industry
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