TD Bank & Envestnet | Yodlee enter into North American data access agreement
TD Bank and Envestnet | Yodlee have announced a data access agreement to address the needs of an increasingly digital customer base. This North American agreement signifies the alignment between TD and Envestnet | Yodlee about protocols to provide for the safe and secure access of TD customer financial data to support the customer’s requests to share with the financial wellness apps and experiences of their choice. TD Bank becomes the 13th bank in North America to sign such a data access agreement with Envestnet |Yodlee.
Through this agreement, TD customers will be able to more reliably and effectively connect to and send their financial information to the more than 1,400 third-party applications powered by the Envestnet | Yodlee financial data aggregation platform. At the customer’s request, TD will now transfer the customer’s financial data to Envestnet | Yodlee through Application Program Interfaces (APIs) eliminating the need for customers to share their banking login ID or password.
“We are excited to announce our first data access agreement for API-based connectivity with a Canadian headquartered financial institution,” said Chad A. Wiechers, Senior Vice President of Data Acquisition and Strategy, Envestnet | Yodlee. “Our relationship with TD is vital for empowering customers to make intelligent financial decisions, while also benefitting from greater connectivity and security across their accounts.”
“We know that our customers are interacting with us through digital channels more than ever before and we are focused on helping meet their needs however they choose to bank,” says Franklin Garrigues, VP, Digital Channels, TD. “This agreement supports our goal of offering our customers a secure and confident experience when they are accessing digital services that are outside their bank.”