When Envestnet acquired bank feed data aggregator Yodlee last year for well over half a billion dollars, there were a few eyebrows raised as pundits wondered how Envestnet would leverage Yodlee to deliver a return on its not-insignificant investment.
For those who haven’t come across it, Yodlee is a bank feed vendor. What that means is that for anyone wanting to create a product that uses bank data, instead of having to build custom integrations into all the different banking platforms out there, they can simply integrate with Yodlee and, hey presto, bank data is theirs.
Of course, Yodlee has something of a flip side — a long-term debate has been had as to whether Yodlee actually breaches banking terms and conditions.
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