Moving Money
Yodlee has announced that "its inter-bank funds transfer solution – Yodlee FundsTransfer – launched in the market just nine months ago, has already moved more than $1 Billion and has initiated over 500,000 transfers."
Yodlee FundsTransfer is an online, inter-bank funds transfer application that increases the speed and reduces the risk of online money movement between any two financial accounts. Yodlee FundsTransfer supports both challenge deposits as well as a unique “instant” account verification method, which Yodlee pioneered, to authenticate users, offering more flexibility and immediacy for consumers. Data shows that users prefer the instant verification method more than 80% of the time when given an authentication option.
“Online funds transfers drive tangible results in online activity and growing deposits,” said Anil Arora, president and CEO of Yodlee. “By using the underlying Yodlee Platform, Yodlee FundsTransfer can immediately and securely move money between any depository financial institutions in the U.S. This is a natural extension for any online banking and online account opening service to provide a rich and valuable online experience for consumers.”
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