Envestnet | Yodlee Introduces Risk Insight to Help Lenders Make More Informed Decisions
11 Aprile 2016 - 3:00PM
Envestnet | Yodlee (NYSE:ENV), a leading data aggregation and
analytics platform powering dynamic, cloud-based innovation for
digital financial services, today announced it is expanding its
product offering by introducing Envestnet | Yodlee Risk Insight, a
new solution that provides lenders with the ability to see a
complete view of consumer bank account and spending activity. This
latest launch from Envestnet | Yodlee reflects its continued
commitment to financial institutions and Internet companies alike
toward driving innovation across the entire spectrum of fintech
including credit risk, retail banking, small business banking,
payments, wealth management, and more.
Envestnet | Yodlee Risk Insight allows lenders to
inject user-permissioned financial data into existing underwriting
functions, allowing them to make a more informed, data-based
decision when evaluating a borrower. Improvements to their risk
model will enhance the underwriting process, reduce fraud, and
improve pull-through and approval ratios. In addition to utilizing
the Envestnet | Yodlee Financial Data Platform, lenders can now
leverage alternative financial data through the Risk Insight
solution to create an enhanced risk profile of borrowers and apply
those findings immediately in their current underwriting
process.
With Envestnet | Yodlee Risk Insight, the current
information useful to lenders to make an informed decision is
gathered electronically and transmitted directly to them, saving
both lenders and borrowers time and effort, reducing underwriting
costs for the lender, and improving the lending application process
as a whole. The features of the offering include:
- Application Capture Flow: Envestnet | Yodlee
Risk Insight can be easily integrated into the lender’s existing
application flow
- Risk Insight API: Contains data from the
borrower’s bank and other accounts with transaction details
- Report / Disclosures: When requested by a
borrower, Envestnet | Yodlee provides a copy of the information
sent to the lender, with consent of the consumer
“By introducing this new solution we are
essentially enabling lenders to make more informed underwriting
decisions, and ultimately improving approval rates to help mitigate
credit losses,” said Terry McKeown, Practice Manager, Credit
Analytics at Envestnet | Yodlee. "Our solution is fast,
comprehensive, and precise. We’re looking forward to seeing the
results for financial institutions on our platform as they begin to
use the data provided by the Risk Insight API.”
For more information about Envestnet | Yodlee Risk
Insight, please visit www.yodlee.com or join our “Product
Development Using Data” panel at LendIt USA on April 11th in San
Francisco.
About Envestnet | Yodlee
Envestnet, Inc. (NYSE:ENV) is a leading provider of
unified wealth management technology and services to investment
advisors. Our open-architecture platforms unify and fortify the
wealth management process, delivering unparalleled flexibility,
accuracy, performance, and value. Envestnet solutions enable the
transformation of wealth management into a transparent,
independent, objective, and fully-aligned standard of care, and
empower advisors to deliver better outcomes.
Envestnet | Yodlee is a leading data aggregation
and data analytics platform powering dynamic, cloud-based
innovation for digital financial services. More than 950 companies,
including 12 of the 20 largest U.S. banks and hundreds of Internet
services companies, subscribe to the Envestnet | Yodlee platform to
power personalized financial apps and services for millions of
consumers. Envestnet | Yodlee solutions help improve the speed and
delivery of financial innovation, improve digital customer
experiences, and drive better outcomes for our clients and their
customers.
Envestnet | Yodlee is headquartered in Redwood
City, CA with global offices in London and Bangalore. For more
information, visit www.yodlee.com.
Media Contact:
Margo Mendez-Penate
margo.mendez-penate@teamlewis.com
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