SAN MATEO, Calif., Sept. 29, 2021 /PRNewswire/ -- Envestnet |
Yodlee -- a leading data aggregation and analytics platform
powering dynamic, cloud-based innovation for digital financial
services -- and Navy Federal Credit Union (NFCU) today announced a
data access agreement. This partnership will provide the framework
for the credit union's members to improve their overall financial
wellness through more securely and effectively sharing their
financial data with digital apps and experiences.
Under the agreement, Navy Federal members can more securely
connect to and send their financial information to the more than
1,400 third-party applications on the Envestnet | Yodlee financial
data aggregation platform. With their consent, these consumers will
experience faster, more reliable access to these applications
through a direct and secure connection to the credit union's
Application Program Interface (API,) using a token-based
approach.
Envestnet | Yodlee powered services help Navy Federal members
better manage their spending, budgeting, savings, and investments
to help improve their overall financial wellness. This agreement
enables Navy Federal members to use these popular financial
applications supported by Envestnet | Yodlee to make better
financial decisions while benefitting from even stronger security,
along with improved data connectivity and reliability.
"This agreement is a win-win for members affiliated with Navy
Federal Credit Union, as their experience with financial wellness
apps will improve through greater data connectivity and
reliability," said Brad Nightengale,
Senior Director, Data Strategy Group, Envestnet | Yodlee. "We're
excited about our relationship with Navy Federal, because we are
empowering their members to seamlessly make better financial
decisions. The financial services industry is moving toward an
increasingly API-connected environment, so these data access
agreements are vital to ensure consumers have the most optimal
digital banking capabilities."
"At Navy Federal, we take pride in understanding the unique
needs of all our members and identifying solutions to support them
and advance their financial goals," said Ryan Fairley, Vice President of Omni-Channel
Strategy & Innovation. "Moreover, it is our utmost priority to
keep members' data and finances safe and secure. This partnership
with Envestnet | Yodlee will empower our members to make the
decisions to achieve their financial goals all while ensuring their
personal information is secure."
About Envestnet
Envestnet refers to the family of operating subsidiaries of the
public holding company, Envestnet, Inc. (NYSE: ENV).
Envestnet is transforming the way financial advice and wellness are
delivered. Our mission is to empower advisors and financial service
providers with innovative technology, solutions and intelligence to
make financial wellness a reality for everyone. Nearly 108,000
advisors and more than 6,000 companies including: 17 of the 20
largest U.S. banks, 46 of the 50 largest wealth management and
brokerage firms, over 500 of the largest RIAs and hundreds of
FinTech companies, leverage Envestnet technology and services that
help drive better outcomes for enterprises, advisors and their
clients.
For more information on Envestnet | Yodlee, please
visit www.yodlee.com, subscribe to our blog, and follow
us on Twitter (@Yodlee) and LinkedIn.
About Navy Federal Credit Union
Established in 1933 with only seven members, Navy Federal now
has the distinct honor of serving over 10 million members globally
and is the world's largest credit union. As a member-owned and
not-for-profit organization, Navy Federal always puts the financial
needs of its members first. Membership is open to all branches of
the armed forces and their families. Dedicated to its mission of
service, Navy Federal employs a workforce if over 19,000 and has a
global network of 347 branches. For more information about Navy
Federal Credit Union, visit navyfederal.org. Federally insured by
NCUA. Equal Opportunity Employer.
Navy Federal Credit Union and Envestnet are separate and
unaffiliated firms. This release should not be construed as a
recommendation or endorsement of any particular product, service,
or firm.
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