REDWOOD CITY, Calif.,
Oct. 21, 2016 /PRNewswire/
-- Envestnet | Yodlee (NYSE: ENV), a leading data
aggregation and analytics platform powering dynamic, cloud-based
innovation for digital financial services, today released findings
from a new quantitative research study showing that consumers have
become comfortable securely sharing transaction data when doing so
translates into cost savings or better financial advice.
The research studied the usage and attitudes of almost 4,000
consumers in the United States.
Statistically significant findings reveal that over 70% of personal
financial management (PFM) users and alternative financial services
(AFS) users are comfortable sharing transaction data if it helps
consumers save money. This research also reveals that almost two
thirds of PFM users were also comfortable with providing their
transactional data if used to improve their financial advice and
guidance.
"Consumers are very interested in exploring digital solutions
that can maximize their financial outcomes and are increasingly
knowledgeable and comfortable with sharing their transaction
information in a secure manner in the pursuit of that," said Anil
Arora, Chief Executive of Envestnet | Yodlee and Vice Chairman of
Envestnet Board. "As an industry, it's vital we keep innovating to
match the ways consumers want to interact with their financial
data, and strive to give them the tools to help maximize their
financial position."
Financial services consumers are increasingly expecting their
financial applications to more closely replicate the user friendly
experiences found in their day-to-day lives like rideshare
applications, online shopping and search functionality. People are
beginning to understand the role data can play in improving
services and offerings, and ultimately benefiting their personal
financial outcomes.
About the Research
Envestnet | Yodlee anonymously studied almost 4,000 consumers
via online research between 26th July - 22nd
August 2016. All respondents were
either the sole decision maker or one of the key decision makers
regarding major financial decisions for their household. All
respondents also indicated they use online banking (use of the
Internet via computer, mobile phone, or tablet) to connect to a
financial institution to check account balances, transfer money
between accounts, pay bills, etc.
About Envestnet
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified
wealth management technology and services to financial enterprises
and advisors. Our solutions unify and fortify the wealth management
process, delivering unparalleled flexibility, accuracy,
performance, and value. Envestnet enables the transformation of
wealth management into a transparent, independent, objective, and
fiduciary standard of care, and empowers enterprises and advisors
to more fully understand their clients and deliver better
outcomes.
Envestnet's Advisor Suite enables financial advisors to better
manage client outcomes and strengthen their practices.
Institutional-quality research and advanced portfolio solutions are
provided through Envestnet | PMC, our Portfolio Management
Consultants group. Envestnet | Yodlee is a leading data aggregation
and data analytics platform powering dynamic, personalized
financial apps and services for millions of consumers. Envestnet |
Tamarac provides leading rebalancing, reporting, and practice
management software for advisors.
More than 2,000 companies, including 16 of the 20 largest U.S.
banks, 38 of the 50 largest wealth management and brokerage firms,
over 500 of the largest Registered Investment Advisers, and
hundreds of Internet services companies, leverage Envestnet
technology and services. Envestnet solutions enhance knowledge of
the client, accelerate client on-boarding, improve client digital
experiences, and help drive better outcomes for enterprises,
advisors, and their clients.
For more information on Envestnet, please visit
www.envestnet.com and follow @ENVintel
(https://twitter.com/envintel).
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SOURCE Envestnet | Yodlee