Account aggregation vendor Yodlee has introduced its first business intelligence products, designed to help banks more effectively mine customer account information for cross-selling and target marketing.
"When we pioneered account aggregation two years ago, our clients immediately saw the value in the technology as a way to attract and retain customers, but this was just the tip of the iceberg. We are now unlocking the true value of this technology by giving our clients new tools for an unprecedented understanding of their customers' needs," says Anil Arora, president and CEO of Yodlee.
The tools provide banking users with a holistic view of not only their own customers and the services they are receiving, but also those of other financial institutions with which the customer has a relationship, says Arora. The new products enable Yodlee's clients to segment their users, at an aggregate level, to more effectively identify customer needs as well as new product and business opportunities, he adds.
Data captured via Yodlee aggregation solutions is cleansed and restructured and may be presented at the desktop for custom reports or fed directly into CRM and campaign management tools.