Yodlee is one of the top online data-aggregation companies servicing top global financial institutions, developers, to small business owners and start-ups focusing on securing transactional data. Their platform was developed to assist these corporations and companies in securing the financial needs of their customer base. For this review we’ll focus on the benefits for the everyday consumer rather than corporations.
When we work hard for our income, it's important to feel secure when managing it online. One of the great aspects to using Yodlee's service is their tight log-in security. Although tedious at times, due to the multiple steps that have to be taken when logging into your account, we find that it's better to be safe than sorry. You can track and budget your finances, consolidate balances, monitor your cash flow, and more all in one place.
For small business owners looking to manage their business accounts signing up with Yodlee is completely free of charge, as well as for the everyday consumer looking to keep track of their finances all in one place, using their MoneyCenter. Again, these services are completely free. For those looking to download the mobile app for iOS or Android devices, there is a fee of $3.99. Added bonuses with this plan include:
Many of us like to be reminded when bills are due. When signing up for the services members can be assured that their finances are protected in order to keep them on top of their bills. Alerts are sent reminding you to pay your upcoming bills and also send warnings for when they are overdue.
One of the best traits about this company is their security level. They provide bank-level security with 256-bit encryption and state of the art security features. What this means is you can rest assured that your personal information is under pretty strict security compliance. Another security measure they take is that every time you log into your Yodlee account you should see a personal description of a specific image that you wrote upon registering.
Also, let's face the fact that when it comes time for tax season many consumers would like all the help they can get to make the process quicker and more fluid. They offer assistance in this area by providing a Tax Center which allows users to estimate tax returns or payouts before tax season arrives, with the possibility to import tax information.
When using MoneyCenter consumers will find that this software can calculate average spending habits, which can be compared year-to-year or month-to-month. They've implemented a program that allows you to save for any future goals by creating a visual enabling you to track progress and adjust the timing and amount of your financial goal. This way you'll be able to see where your dollars flow and go. These features and services do not include:
Aside from accessibility and other functions, the user interface can be described as fair. They chose an unflattering green color which can be distracting.
When dealing with financials, most consumers like to get it done quickly, while still ensuring its accuracy. A few consumer reviews have stated that with each new update it becomes less functional and slower. There are an array of reports and graphical charts to choose from, along with many other functions which can be useful, but for the consumer who is just starting out, it can be rather confusing. Other sites we've reviewed with such a grand amount of information, and the learning curve associated, have user guides to help in navigating the program while this company doesn't.