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http://www.yodlee.com
June 05, 2006 03:30 AM Eastern Time 

Equifax Account Watch Helps Consumers Protect Themselves from Financial Fraud and Theft

REDWOOD CITY, Calif. & LONDON--(BUSINESS WIRE)--June 5, 2006--

  First of Its Kind UK Service, Powered by Yodlee, Provides Consumers with Alerts of Unusual Account Activity via Email and SMS  

“With Account Watch, users can recognize fraudulent transactions early -- helping to stop identity theft in its tracks and dramatically limit the time and expense involved to resolve the problem”



Yodlee, Inc. today announced a relationship with the UK subsidiary of Equifax Inc. (NYSE:EFX) to deliver Account Watch, a unique product to help consumers proactively manage their financial accounts and protect themselves from fraud and identity theft. Account Watch, available from Equifax UK, leverages Yodlee's OnCenter Alerts Service to monitor (with a user's permission) real-time online account activity, such as bank accounts, savings accounts and credit card transactions. Available at www.accountwatch.co.uk, this product automatically sends consumers alerts of any unusual or suspicious activity.

It is estimated that more than 100,000 people are affected by identity theft in the UK each year, costing the British economy over GBP 1.7 billion annually (source: Home Office Identity Fraud Steering Committee). Equifax, already a trusted leader in ID verification and online consumer services, serves consumers throughout North America and the UK via its Personal Solutions products.

Account Watch Features:

-- Real-Time Alerts Proactively Notify Potential Victims. Account Watch Alerts arrive by email and SMS whenever a transaction on an account has exceeded a specified financial amount. Alerts can be set for all of an individual's financial online accounts -- including bank, savings, investment and credit card accounts. Common alerts that individuals set are: any withdrawal over GBP 350 or credit card charge over GBP 500.

-- Consolidated View of Transactions Reveals Violations. Using Yodlee's OnCenter Personal Finance capabilities, Account Watch also provides a consolidated, real-time "snapshot" of an individual's various financial accounts, including transaction details, enabling them to immediately spot unusual activity.

-- Single Place to Manage Stolen Debit/Credit Cards. Account Watch also provides a safe and secure environment to help you manage your multiple online accounts should your debit/credit cards get stolen.

"With Account Watch, users can recognize fraudulent transactions early -- helping to stop identity theft in its tracks and dramatically limit the time and expense involved to resolve the problem," said Joseph Polverari, managing director, International at Yodlee. "This is an extremely innovative product. We're thrilled to be working with Equifax and Vodafone to bring this powerful functionality to the UK market."

"This market-leading initiative is important for consumers and financial providers alike, all of whom are seeking ways to add value and eliminate risk in online financial activities," said Neil Munroe, external affairs director, Equifax. "Yodlee has the proven technology to securely access real-time transaction-level data. Vodafone is the leading mobile phone provider for receiving SMS alerts. Equifax has been providing real solutions to tackle the increasing threat of identity fraud and theft. Together, we have brought Account Watch to the UK market to help stop fraud and identity theft."

Benefits for Consumers:

-- Save money on fees -- they know before an account becomes overdrawn

-- Financial protection -- by receiving SMS and email alerts of unusual activity on online account

-- Save time and hassle -- provides access to all their chosen online accounts in one secure place

-- Stay informed -- finances are monitored 24x7 -- even when traveling abroad

-- Quicker Response to Financial Fraud -- access to all their card data provides a speedy response to card theft.

Benefits for Financial Services Providers (FSPs):

-- Ability to leverage trusted relationships -- FSPs are in a perfect position to offer Account Watch to customers, leveraging their trusted relationships to offer consumers a value-add product and exceptional consumer protections.

-- Provide peace of mind to customers -- by assuring consumers that their accounts are being monitored around the clock.

Availability

Identity theft prevention is just one of the ways Yodlee's OnCenter helps financial institutions deepen their relationship with their customers and increase profitability, while helping consumers simplify management of their personal finances. OnCenter is private labeled and available in hosted or enterprise software editions to financial service providers worldwide.

The integrated solution with Equifax, Account Watch, is available today to UK consumers at www.equifax.co.uk/accountwatch and also via a white labeled service to other financial services providers.

About Equifax Inc. (www.equifax.com)

Equifax Inc. is a global leader in information technology that enables and secures global commerce with consumers and businesses. We are one of the largest sources of consumer and commercial data. Utilizing our databases, advanced analytics and proprietary enabling technology, we provide real-time answers for our customers. This innovative ability to transform information into intelligence is valued by customers across a wide range of industries and markets. Headquartered in Atlanta, Georgia, Equifax employs approximately 4,600 people in 13 countries throughout North America, Latin America and Europe. Equifax was founded 107 years ago, and today is a member of Standard & Poor's (S&P) 500(R) Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.

About Yodlee

Yodlee is a trusted provider of innovative financial applications that help financial services providers (FSPs) drive more satisfying and profitable customer relationships from their online channel. Yodlee's suite of solutions -- including bill pay, PFM, and advisor applications -- automate and simplify consumers' financial chores while generating new revenue opportunities for FSPs. All Yodlee solutions are uniquely powered by the patented Yodlee Platform, which securely communicates in real-time with thousands of financial sources to create an integrated data infrastructure for all online financial applications. Yodlee operates in the U.S. and the U.K., and has amassed nearly seven million users, over $250 billion in aggregated assets across the network, and more than 100 clients, including the world's top financial institutions and portals, including AOL, Bank of America, Fidelity, JPMorgan Chase, Merrill Lynch, MSN, and Wachovia. Yodlee is headquartered in Redwood City, Calif. For more information, visit www.yodlee.com.

Contacts

Yodlee
Melanie Flanigan, +1-650-980-3707
mflanigan@yodlee.com
or
SHIFT Communications
Deann Mayeda, +1-415-591-8404
dmayeda@shiftcomm.com
http://www.yodlee.com

Company Information Center

Yodlee, Inc. RSS feed for Yodlee, Inc.

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