Envestnet | Yodlee & Productfy partner to accelerate FinTech development with embedded finance

By Pavithra R

Envestnet | Yodlee, the leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, has announced partnering with Productfy, a developer-focused business-to-business (B2B) FinTech platform, to offer a single platform for swift development of financial products and solutions for FinTech startups.

Under the collaboration, FinTech developers who use Productfy’s platform will have immediate access through a single interface to Envestnet | Yodlee’s data aggregation and account verification services, Automated Clearing House (ACH), KYC, card issuance, credit data, and other capabilities also offered through Productfy. 

“Envestnet | Yodlee has a long history of working with Productfy, as they are an alumnus of our incubator program. This partnership is a win for developers, because we enable the start-up FinTech community to focus on getting their financial solutions to market quickly and comprehensively, while reducing traditional barriers to entry,” said Jeff Cain, Vice President of Strategic Partnerships, Envestnet | Yodlee. 

Developer teams can leverage Productfy’s self-service onboarding, managed compliance, and network of bank and enablement partner to bring innovative financial solutions to market faster by utilizing multiple vendors in a single environment.

“We’ve learned that FinTech startups need an all-in-one solution that combines managed compliance, unified due diligence, and a world-class DevX to successfully launch a financial product. Our value goes beyond helping our clients launch a product in as little as three weeks, but also we provide an enablement service that helps them achieve commercial success,” said Duy Vo, Founder and CEO of Productfy. 

Established in 1999, Envestnet is transforming the way financial advice and wellness are delivered. The company’s mission is to empower advisors and financial service providers with technology, solutions, and intelligence to make financial wellness a reality for everyone. The FinTech is a market leader in financial data aggregation, partnering with more than 1,400 FIs and FinTech innovators, including 15 of the top 20 U.S. banks, enabling a massive data network associated with tens of millions of consumers who use platform-related personalized apps and services.