Yodlee Launches Small Business PartnerHub; CAN Capital 1st App Partner to go Live

REDWOOD CITY, Calif., March 16, 2015 (GLOBE NEWSWIRE) -- Yodlee® (Nasdaq:YDLE), the cloud-based platform driving innovation in digital financial services, today launched the Yodlee Small Business PartnerHub, giving business owners access to a suite of tools – including lending, invoicing, and travel and expense management – through a secure financial portal. CAN Capital, Inc., a market share leader in alternative small business finance, is the first of many third-party partner services that will be integrated into the Hub. CAN Capital offers fast access to funding via an instant quote based solely on financial data and payment information, helping businesses and entrepreneurs qualify for more money while lowering risk for lenders.

"We know that businesses want more from their banking services. The Hub model is a unique way to integrate disparate but innovative apps into a seamless, secure experience specially designed for businesses," said Greg Weddell, Business Banking Practice Manager at Yodlee. "Businesses are now able to get ALL their financial management services through the cloud using the Yodlee Platform and by leveraging it, financial institutions are able to bring more services to their customers, simply and securely, improving satisfaction and increasing revenue."

The Yodlee Small Business PartnerHub gives financial institutions an easy way to offer innovative third party business services and applications to their customers in an integrated white label solution. Powered by Yodlee, the platform brings real-time transactional data to create business insights, like cashflow forecasting. The Hub model frees financial providers from the world of one-off integrations, which further complicate an already complex technology infrastructure. And it's all powered by a common data platform, so the services can share and connect information as transactions move through the Hub.

The suite of services can provide capabilities that encompass:

  • Loans and Financing
  • Expense & Receipt Management
  • Invoicing and Collections
  • Business Credit Score and Activity Monitoring
  • Lead Generation
  • Online Accounting Integration
  • Payables and Approval Workflows
  • Travel Management

Benefits of the PartnerHub Model for financial providers:

  1. One integration with Yodlee provides access to many valued business services
  2. Accelerates innovation of business services, both internal and external capabilities
  3. Provides an efficient way to generate additional revenue

"We are here to help businesses succeed with fast, secure access to funding. The Yodlee Small Business PartnerHub is a great 'one-stop-shop' for small businesses – bringing together best-of-breed capabilities like ours, specifically designed for the unique and changing needs of business owners," said James Mendelsohn, chief marketing officer at CAN Capital. "We believe this will be a big win for both businesses and financial institutions."

Additional or custom business capabilities can be easily added to the Yodlee Business Partner Hub via simple integrations.

Availability

The Yodlee Small Business PartnerHub, with integrated CAN Capital financing tools, is available today at Yodlee SmallBusiness and to financial institutions via a Yodlee sales representative or at www.yodlee.com/platform-solutions/industry-solutions/small-business/.

About CAN Capital

CAN Capital, Inc., established in 1998, is the pioneer and market share leader in alternative small business finance, having provided access to over $4.5 billion in capital for tens of thousands of small businesses in a wide range of locations and different business types.

As a technology-powered financial services provider, CAN Capital uses innovative and proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital for entrepreneurs in a fast and efficient way. Its business evaluation model allows it to help small businesses qualify for more money than they could obtain elsewhere.

CAN Capital makes capital available to businesses through its subsidiaries: Merchant Cash Advances by CAN Capital Merchant Services, Inc., and business loans through CAN Capital Asset Servicing, Inc. (CCAS). All business loans obtained through CCAS are made by WebBank, a Utah-chartered Industrial Bank, member FDIC.

About Yodlee®

Yodlee (Nasdaq:YDLE) is a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services. More than 800 companies, including 9 of the 15 largest U.S. banks and hundreds of Internet services companies, subscribe to the Yodlee platform to power personalized financial apps and services for millions of consumers. Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and deepen customer engagement.

Yodlee is headquartered in Redwood City, CA with global offices in London and Bangalore. For more information, visit www.yodlee.com.

CONTACT: Kaitlyn Garcia kaitlyn@vscpr.com Melanie Flanigan MFlaigan@yodlee.com

Source:Yodlee