Yodlee PayToday Expedited Bill Payments

“We think the data is very convincing, leaving little doubt that there is growing consumer demand for expedited payments, in particular through the online channel,” said Joseph Polverari, SVP Strategy and Development at Yodlee. “Part 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. We’re 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.”

“At Yodlee, we recognize that online bill pay is becoming cost prohibitive for many financial institutions, especially in today’s difficult economic environment,” said Bill Parsons, SVP Field Operations at Yodlee. “In response, we’ve made Yodlee PayToday available on a stand-alone basis, ready to integrate into existing solutions with little effort and no service disruption. The feedback we’ve been receiving is consistent and positive – 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.”

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.