REDWOOD CITY, Calif. — In a just-announced strategic alliance, Yodlee will provide account verification and funds transfer tools while Andera will provide account opening technology to credit unions and banks nationwide.
A pioneer in account aggregation, Redwood City-based Yodlee now provides more than four million verifications a year for small and mid-tier financial institutions. Andera provides account opening solutions to more than 130 credit unions and banks from its headquarters in Providence, R.I.
The partnership with Yodlee extends the marketing of Andera's online account-opening platform to larger financial institutions, the companies said.
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Yodlee, meanwhile, said its Yodlee FundsTransfer application has now processed more than $1 billion in transaction volume in the nine months since it was launched. More than 100 financial institutions and portals, including AOL, Bank of America, Fidelity, JPMorgan Chase, Merrill Lynch and MSN, use Yodlee, the company said.
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