Envestnet | Yodlee partnered with Blockchain.com for account verifications

By Joy Dumasia

Envestnet | Yodlee data aggregation and data analytics platform for financial services has announced it will provide account verification for one of the most widely-used consumer crypto products and the leading institutional crypto solutions provider, Blockchain.com.

Envestnet | Yodlee will provide open banking access to new Blockchain.com users, accelerating Blockchain’s ability to onboard new customers and securely fund their accounts through real-time account verification, directly from the user’s bank account, without the need to provide micro-deposits.

Envestnet | Yodlee is a market leader in financial data aggregation, enabling innovation and insights for financial service providers. It has partnered with more than 1,400 financial institutions and FinTech innovators, enabling firms to build innovative financial solutions with access to an industry-leading application programming interface (API).

Jason O’Shaughnessy, Head of International Sales at Envestnet | Yodlee, said: “The financial services industry is being disrupted by a new wave of innovative businesses, and for these businesses to thrive, they need to be able to acquire new users at speed. Simplifying the verification process enhances the user experience and cuts down onboarding to a matter of seconds.”

Jason Karsh, VP of Marketing at Blockchain.com, said: “Interest in cryptocurrency has never been greater. As we onboard increasingly larger numbers of new customers onto Blockchain.com each day, it’s incredibly helpful to be able to connect to one’s bank in an easy and trusted manner leveraging Envestnet | Yodlee’s account verification solution.”

Recently, IBS Intelligence reported that Financial Dots Limited has selected data analytics platform Envestnet | Yodlee to provide open banking and non-open banking data services for its customers with an initial client focus in the United Kingdom. The collaboration will enable Financial Dots’ customers to view their cross-border financial accounts and investments in one place.