Envestnet | Yodlee to Provide Magpie Customers With Easy Global Account Management Through Its Smart Wallet Bundle App

Partnership creates an even simpler and safer way for users to access their financial information in emerging markets – Mexico, India, and China

REDWOOD CITY, Calif., Jan. 06, 2016 (GLOBE NEWSWIRE) -- Envestnet | Yodlee (NYSE:ENV), a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services, today announced it is partnering with Magpie, a leading white-label app provider for smartphones. Magpie’s Account Tracker is powered by Envestnet | Yodlee’s advanced data network, and for the last nine months, it has worked to develop a full-service platform that will allow Magpie customers to access their bank accounts via the Smart Wallet Bundle app.

Envestnet | Yodlee’s Aggregation API allows Magpie’s Account Tracker users to monitor and view all their bank accounts from a single and secure location without having to separately log into every, individual banking site. The Account Tracker provides a faster, simpler, and safer way for Magpie users to authenticate and view bank their accounts. This tool also prevents any attacks or leaks of information that could happen by making sure you never have to leave the app when entering your account credentials.

“We’re extremely thrilled to have been able to partner with Envestnet | Yodlee in order to create our extremely simple yet powerful Account Tracker,” said Stephen Kennedy, Chief Executive Officer at Magpie. “We are positive that our Smart Wallet Bundle app along with the security of our Account Tracker will help countless customers with their financial management. With recent partnerships in Mexico and India as well as plans to launch in China, we aim to bring a simpler way to monitor your finances throughout the world.”

The Smart Wallet Bundle app allows a user to set an alarm in case they are separated from their wallet or if their bank cards happen to get lost or stolen. Magpie customers can report and replace their lost cards in a couple of taps. Authentication and fraud prevention can be handled entirely through the app’s Account Tracker function, which provides access to up to 365 days of transaction history and enables an easy, secure way to link bank accounts.

“It’s exciting to be able to partner with other financial innovators and produce new ways for people to manage their finances,” said Jason O’Shaughnessy, SVP of International Markets and Managing Director, EMEA at Envestnet | Yodlee. “Working with Magpie has been a rewarding experience and we are excited to be able to get the new product out to their customers. It’s common to have many bank accounts but accessing them can be difficult. Through our partnership, there is finally an app that lets you easily keep an eye on multiple accounts without having to go through an external authentication process.”

About Envestnet | Yodlee

Envestnet, Inc. (NYSE:ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.

Envestnet | Yodlee is a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services. More than 950 companies, including 12 of the 20 largest U.S. banks and hundreds of Internet services companies, subscribe to the Envestnet | Yodlee platform to power personalized financial apps and services for millions of consumers. Envestnet | Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and deepen customer engagement.

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

About Magpie

Magpie believes that as consumers’ lives get more complex and busier (proliferating use of social networks, digital technology such as smart tags/fitness devices, smartphones and tablets, and the convergence of physical and digital stuff) a new consumer need emerges.

This is a need for personalization, simplification, consolidation, control, and support in managing their busy lives - for MAGPIE this means being smart, and so we have harnessed the latest consumer and technology trends to form a business that is entirely focused on the consumer experience of being able to reduce the friction in people’s busy lives so they can live more - worry less.

For more information, please visit www.magpieint.com

Media Contact VSC for Yodlee Interactive Abbie Havern abbie@vscpr.com 1-650-815-5050

Source:Yodlee, Inc.