Yodlee supports over 11, 000 financial data sources

Yodlee Inc. presented its Yodlee Data Engine that delivers over 11,000 financial Data sources and represents over 100,000 different account types. So it offers more than any other provider. According to Yodlee's meanings and terms a "data source" means a financial institution or other provider of financial services and an "account type" term is used for checking, savings, credit, etc. 

Yodlee Data Engine is aiming to help lower costs and to generate new revenue through the online banking channel. Yodlle's financial institution customers are more likely to use that new service that improves personal financial management and online bill pay solutions. 

According to Peter Hazlehurst, Yodlee's senior vice-president of product development, Yodlee Data Engine is a unique solution or the equivalent of a utility that allows an average American consumer to have up to twenty-five financial and billing related accounts and more than a dozen institutions or providers. Also new technology enables a whole new generation of online banking, payments and wealth management solutions. Yodlee's new service is the following step in Yodlee innovative solutions. It powers Yodlee recent innovations that includes Yodlee PersonalFinance (the industry leading personal finance management solution) and Yodlee PayItAll Yodlee's pay anyone online bill pay solution, featuring revenue generating card based and urgent, fee based payments). 

Yodlee's innovations are used by more than 15 million consumers. And the new one - Yodlee Data Engine - provides the tools that help them to manage personal finances and make payments. And the consumers can accomplish it the way they want.

As Gary Williams, Yodlee's vice president of data and payment operations predicted that all next generation online banking and payments solutions will be based on unifying data sources.