Yodlee(R) PayToday(TM) Expedited Payments Ready for Integration
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Same-Day Electronic Payments to Hundreds of Major Billers;
Immediate New Revenue Opportunity for Financial Institutions
REDWOOD CITY, Calif.--(Business Wire)--
Yodlee, Inc., today announced that Yodlee PayToday - Yodlee's
leading expedited payments solution - is now available as a revenue
generating addition to any financial institution's 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(1)
-- 75 percent of the top 50 U.S. banks are offering or planning
to offer expedited payments(2)
-- Fee revenue from expedited payment services will grow to
roughly $1.7 billion by 2009 - a CAGR of 11 percent.(3)
"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."
Easy Installation/Integration with Existing Solutions and Websites
"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.
Key Benefits of Yodlee PayToday:
-- Easy integration into existing online banking and bill payment
services
-- Broadest market reach to hundreds of national and regional
billers
-- End-to-end electronic execution of transactions to lower costs
and increase profits
-- Easy 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
Yodlee's comprehensive online bill pay solution - Yodlee BillPay
PayItAll.
Key Benefits of Yodlee BillPay PayItAll:
-- Pay any biller
-- Low cost, next-day electronic payments standard
-- Proprietary, revenue generating credit and debit card-based
payments
-- Revenue generating, fee-based expedited payments
-- Mobile payments
-- Intelligent payment routing (for least cost and/or most
profit)
-- Complete electronic presentment for nearly 3,000 bills
-- Risk based and good funds disbursement models
-- Optional integration with Yodlee PersonalFinance(TM) and
Yodlee FundsTransfer(TM)
-- Complete customer care (Tier 1 and 2)
-- Flexible deployment options
-- Full 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 busdev@yodlee.com.
About Yodlee
Leading financial institutions trust Yodlee to power critical
online banking applications that increase profitability and drive more
value from the online channel. Yodlee's 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 - any time, anywhere. Yodlee makes financial
institutions' 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, 650-980-3707
mflanigan@yodlee.com
or
SHIFT Communications
Colleen Wickwire, 415-591-8414
cwickwire@shiftcomm.com
Copyright Business Wire 2008
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