Yodlee “PayItAll™” Online Bill Pay Solution

“Financial institutions today face increasing challenges when it comes to online bill pay,” said Anil Arora, CEO of Yodlee. “As popularity and user adoption continue to grow, so do associated expenses. In today’s unsettled market, many financial institutions face a multi-million dollar annual expense and have correctly begun the process of evaluating how they can improve the return on investment of their bill pay offering. Yodlee offers financial institutions and their customers an important win/win solution to the problem, with Yodlee Bill Pay PayItAll delivering lower overall cost, generating substantial new revenue opportunities and delivering significantly improved user functionality.”

"Online bill pay remains a strong driver of customer retention for financial institutions," said Gwenn Bézard, research director with Aite Group. "However, the ballooning costs of the current processing model are begging for a paradigm change. The new Yodlee product creates a unique opportunity for institutions to offer new functionalities to their customers while turning a cost center into a revenue generating tool."

“We see a tremendous opportunity for innovation to improve the online bill pay experience,” said Arora. “Yodlee’s ‘better, faster, cheaper’ approach to bill pay has been very well received. We currently have three large financial institutions in various stages of implementation; and financial institutions of all sizes are demonstrating a very strong interest in our capabilities, as well as a strong interest in making bill pay – for the first time – profitable. We’ve looked closely at the combination of cost saving and revenue generating probabilities with a number of customers and prospective customers and the results are very compelling.”