Frequently Asked Questions
This outlines some of the most frequently asked questions our clients ask about Yodlee FinApps. If your question is not addressed, please contact us at busdev@yodlee.com.
What are FinApps?
FinApps are financial applications created by Yodlee, leading brands and individual developers offered by financial institutions to their consumers either free or for a fee.
Why would I offer FinApps to my customers?
Offering FinApps gives your financial institution an opportunity to easily expand and diversify your online and mobile channel offering, while creating a new revenue stream. By leveraging the Yodlee Platform you integrate once and have access to over a hundred new FinApps to select from.
How many FinApps are there?
This site currently showcases only a portion of the FinApps that are in development. Only those that have passed our rigorous certification standards are included in this website. At present we have over 50 FinApps on this site and over a hundred in development.
How does someone become a FinApp developer?
There are several different types of developers. Yodlee both develops FinApps and has created alliances with well known US brands to create new FinApps. Financial Services IT teams and individual developers can also create FinApps. Each developer must be willing and able to pass a security and financial audit in order to certify the FinApp for the Yodlee Platform.
How do FinApps appear on my site?
It depends on how the financial institution chooses to deploy the FinApp. The FinApp can be co-branded and deployed as a standalone application on the financial institution’s online site, fully integrated into the bank’s existing mobile solution or deployed through existing online channels.
What is the cost to the consumer?
The bank can choose to provide the FinApps(s) free of charge to their customers or charge their customers a nominal one-time or subscription fee for access to this premium product. Pricing can also be tailored for specific consumer segments.
What is the revenue to the Bank?
Each FinApp is a unique offering to the market and is priced accordingly, and the revenue to the financial institution adapts to complement the FinApp offering. Since the FinApp(s) can be deployed to consumers as free or for a fee, either standalone or fully integrated, the actual revenue varies, but it is all net new revenue to the bank from the online channel for services consumers want and value.
What if I want to build my own FinApp(s)?
Yodlee has a robust set of APIs, documentation, and support to help developers turn their own ideas into new FinApps. In addition, Yodlee has an experienced professional services team that can create custom FinApps and complementary mobile solutions for your bank.
Can any FinApps that my bank builds be used in other distribution channels?
Yes. Yodlee is rapidly expanding the use of its technologies within complementary channels that could drive customer acquisition for banks that deploy FinApps in those environments.
