SOURCE: BancVue Interactive

BancVue Interactive

June 15, 2010 08:00 ET

BancVue Interactive and Yodlee Partnership Produces Enhanced Online Account Opening System for Community Financial Institutions

"INMO" to Get Instant Account Verification and Challenge Deposit Capabilities

AUSTIN, TX--(Marketwire - June 15, 2010) -  BancVue Interactive, an online marketing firm exclusively focused on supporting community financial institutions, and Yodlee®, Inc., the leading provider of personal financial management and integrated payments solutions, today announced an agreement to fully incorporate the two firms' online account opening technologies.

The enhancement will integrate INMO™, BancVue Interactive's leading online account opening (OAO) system designed exclusively for community banks and credit unions, with Yodlee's patented Yodlee AccountVerification™ technology that includes both "Instant" Account Verification and Challenge Deposit verification capabilities to quickly confirm account ownership, available balance, and other pertinent information.

"The addition of Yodlee's innovative online banking solutions to BancVue Interactive's INMO platform promises an unprecedented level of benefits to community financial institutions and their online consumers," said John Waupsh, CEO of BancVue Interactive. "Our partnership allows us to reduce funding risk to the financial institution and enhance decision making during account opening, increasing the likelihood of completing an account opening in a single session."

A recent Javelin Research study validated the need for banks to make their online account opening process easier, faster, and more secure. According to the May 2010 report, one in four U.S. adults have made an attempt to open an online account this year and less than half have succeeded in the effort.

BancVue Interactive's INMO, the first and only online account opening system developed specifically for community banking, already boasts the highest funding rate in the industry and is in use with hundreds of financial institutions. Services include identity verification, applicant screening, decisioning of applicants, and ACH funding. INMO also eliminates problematic Auto Deny features to ensure quality applicants make it through the screening process, resulting in more funded accounts for the institution.

Yodlee powers innovative solutions for more than 155 global financial institutions. To date, nearly 19 million accounts have been "instantly" verified using Yodlee AccountVerification, and more than $3 trillion in financial assets are currently tracked through Yodlee-powered services.

"We know from experience that 7 out of every 10 new consumers elect to use 'instant' Account Verification in preference to legacy verification methods when given the choice," says Anil Arora, CEO of Yodlee. "The BancVue Interactive/Yodlee combination will give community financial institutions the process they need to establish credibility among these consumers, ultimately leading to less risk and increased account openings."

"Community banks and credit unions need innovative products and services to compete in this market," says Waupsh. "The BancVue Interactive/Yodlee offering will help put these institutions on a higher technological plane than any megabank."

For more information visit: www.bancvueinteractive.com or www.yodlee.com.

About BancVue Interactive
BancVue Interactive, formerly FIRST ROI, is a full-service marketing firm exclusively focused on helping community financial institutions win the war against the mega banks by providing online and offline marketing strategy and execution. Serving more than 500 community financial institutions, the firm is best known for its FIRSTBranch® and INMO® offerings that fortify community financial institutions with everything necessary to profitably acquire online accounts. BancVue Interactive is a subsidiary of BancVue, the leading provider of innovative software, marketing, and consulting solutions to community financial institutions nationwide. For more information, visit www.BancVueInteractive.com.

About Yodlee
Leading financial institutions trust Yodlee to power critical online financial applications. Yodlee's personal financial management, payments, and customer acquisition solutions unify all personal financial account information to deliver a simple, centralized and secure source for consumers to manage all of their financial tasks anytime, anywhere. Yodlee makes financial institutions' websites essential to their customers and generates new revenue opportunities. Yodlee's patented data, payments and risk management utility supports more than 11,000 account sources and over 100,000 different account types. More than 100 leading financial institutions and portals today offer Yodlee-powered solutions to millions of customers worldwide. Yodlee operates in the United States and Europe and is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

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