Envestnet | Yodlee, Varo Money collaborate for fintech push

Data aggregation and analytics platform Envestnet | Yodlee that powers dynamic, cloud-based innovation for digital financial services, announced its new partnership with a mobile-only banking startup Varo Money in a move to drive fintech innovation.

The fintech-focused partnership between the companies will provide customers with proactive alerts that help improve their financial health. Varo Money can easily and quickly access the Envestnet | Yodlee Financial Data Platform and is also integrating its Account Verification API to offer customers with a quick, secure and easy way to connect accounts and balances to provide low-cost funding options by reducing customer risk.

“We're excited to be partnering with a company committed to disrupting the banking landscape by providing consumers with a simple and customized mobile banking experience. Allowing customers to improve their financial outcomes should be the central goal of all financial offerings, and it's great to see Varo Money leverage our platform to deliver innovative solutions that help customers achieve their goals,” Chris Chen, Senior Vice President and General Manager of the API Team at Envestnet | Yodlee, stated.

Last December, Envestnet | Yodlee created new incubator class of fintech disruptors that connects the next generation fintech disruptors with funding, mentorship to help grow their business, strategic guidance and free access to the company’s Data Aggregation Platform.