A new initiative between Envestnet | Yodlee and South African API marketplace and technology platform, Limitless Technology, will enable the latter to provide real-time data aggregation for financial institutions.
Calling South Africa an “exciting new market for the financial technology industry,” Envestnet | Yodlee SVP and Managing Director Jason O’Shaughnessy praised this new aspect of the company’s five-year relationship with Limitless. He added that the partnership will give Envestnet | Yodlee the opportunity to build “awareness” for its services in the region.
Pictured (left to right): Yodlee CMO David Lee, VP Product Marketing John Bird, and VP Product Applications Katy Gibson demonstrating Yodlee’s cloud-based platform at FinovateSpring 2015 in San Jose.
Limitless Technology COO Zonja Terblanche called Envestnet | Yodlee “the best partner for us” and pointed to the company’s modern RESTful API, state-of-the-art security, and advanced data network as reasons why Limitless saw Envestnet | Yodlee as a “go-to partner.”
With Envestnet | Yodlee’s Aggregation API, Limitless’s RESTful API and Finlayer will generate digital fingerprints that will make it easier for banks and creditors to pre-qualify applicants. Limitless developed South Africa’s first personal finance management solution, Moneysmart, in 2011 and has since transformed the technology into a “spend management” app which it plans to launch in 2016. Limitless was founded in 2010, and is headquartered in Stellenbosch in South Africa’s Western Cape province.
Limitless is the latest victory for the new Envestnet | Yodlee union. In January, Envestnet | Yodlee announced a partnership with Australian Superannuation Fund, QSuper, that will give the organization’s members access to account aggregation and PFM tools. The company’s Ynext accelerator unveiled its new incubator class in November, and Yodlee integrated with Salesforce Financial Services Cloud in October.
Founded in 1999 and headquartered in Redwood City, California, Yodlee was acquired by Envestnet last August for $660 million. A multiple Finovate Best of Show winner, Yodlee will make its return to our developer’s conference, FinDEVr New York 2016, on March 29 and 30. Find out more about our upcoming event for builders – and pick up your ticket today.