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Tips for Using Yodlee IAV

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Yodlee is an aggregation service companies use to access customer financial information. Its Instant Account Verification (IAV) provides account- and transaction-level data about customer activity which companies use to perform day-to-day procedures such as loan and insurance processing.

To access this data, companies create Yodlee accounts for their customers who then search for their institutions in FastLink UI, log in to those institutions’ accounts, and link them. Once the accounts are linked, the data becomes available to the company via Yodlee API. The software developer then integrates the Yodlee API with the company’s API.

To save software developers the time and effort needed to create applications to access each specific financial institution’s API, Yodlee provides unified APIs so data can be transferred from financial institutions to the businesses seeking customer information. Yodlee supports thousands of institutions at a relatively low price, so it has become widely used by companies working in the financial sector.

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