REDWOOD CITY, Calif.--(BUSINESS WIRE)--Yodlee Interactive, the division of Yodlee enabling developers, entrepreneurs and Fortune 500 tech innovators to securely access transactional data via a set of APIs, today announces it will be launching a new private beta program that adds unique geo-location information to financial data the company accesses from millions of consumers worldwide. This deep layer of location-based insights will allow developers to add personalization to app offerings by showing consumers where, in addition to how, money is being spent, and will also create entirely new revenue streams by providing companies with the data needed to make more relevant recommendations.
Current customers are encouraged to apply to the new private beta program through the following link: http://solutions.yodlee.com/Geo-Private-Beta-Form.html
Yodlee Interactive powers hundreds of financial apps and services worldwide – including Venmo, Kabbage, Personal Capital and more – by delivering secure access to the most categorically accurate financial data available. The company leverages data from tens of thousands of financial institutions, including 99 percent of all U.S. financial institution accounts.
This new, network-wide capability will provide Yodlee Interactive API partners with precise geo location data around where transactions are taking place, allowing partners to add a new layer of personalization to their apps and services. By knowing where consumers are shopping, in addition to what they’re buying, companies and developers can:
- Make more relevant recommendations to increase in-app revenue (e.g., recognize that a user purchased a television at a retailer, and recommend a deal on DVD players in the same area)
- Create more personalized rewards programs with location-based specific rewards (e.g., understand how many times a user flies with a certain airline, and show how many rewards points they have accrued)
- Add context to expense tracking (e.g., understand and specify that a user spent $400 at a Four Seasons in San Francisco, $12 on an Uber in Austin, etc.)
- Add a new layer of insight to personal finance management apps (e.g., create a visual map showing a user that 60% of their monthly budget is spent at physical locations within a mile of their office)
“Data drives innovation. But breadth, depth and personalization of data is what can transform a service from useful to game-changing,” said Joe Polverari, chief strategy and development officer of Yodlee and general manager of Yodlee Interactive. “We’re eager to deploy our proprietary artificial intelligence to our database of millions of consumer transactions to provide companies with additional context to take their apps to the next level.”
Yodlee Interactive will be hand-selecting a set of API partners who have shown marked traction in their industry for this beta program. Over the course of the private beta, the company’s artificial intelligence will be semantically improving before launching to all API partners.
Current customers interested in applying to the new private beta program should visit: http://solutions.yodlee.com/Geo-Private-Beta-Form.html
About Yodlee Interactive
Yodlee is a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services. Yodlee Interactive makes the Yodlee platform available to digital services companies and developers via open and secure data APIs, to build next-generation financial apps and services. Today, hundreds of companies, large and small, are powered by Yodlee Interactive, accelerating FinDat innovation globally.
Yodlee and Yodlee Interactive are headquartered in Redwood City, California. For more information, visit interactive.yodlee.com.