Yodlee, a provider of online and mobile personal finance management (PFM) and payments solutions and Money Dashboard, an online, personal finance management solution for UK consumers, are planning to open Money Dashboard personal finance management portal, powered by Yodlee PersonalFinance, to all UK consumers in the first half of 2010.
Recent Money Dashboard research demonstrated that consumers using online banking increased from 54% to 75% in the UK. Javelin Strategy & Research’s recent analyst data also confirmed that PFM solutions, which allow consumers to view and interact with all of their financial accounts in one place, are in high demand by consumers, with nearly one in four seeking a better online PFM solution.
Money Dashboard said that its online personal finance management solution helps consumers build confidence in their financial situation, bringing clarity and confidence to financial decision making. With its new service, Money Dashboard will alter the consumer’s view of financial products and shift the focus from credit management to growing savings and building wealth.
Gavin Littlejohn, CEO of Money Dashboard, said: “We have spent four years addressing the most effective ways to alleviate growing consumer problems including a lack of financial awareness, management and control. Through the new partnership with Yodlee, in an effort to organize and update consumer data safely and securely, we have built a user experience to provide insight into one’s individual finances, and help the customer identify financial products that best meet their needs.”
Anil Arora, CEO of Yodlee, said: “Consumer anxiety over finances is not an American phenomenon. Our research clearly indicates that online PFM services, offered by both financial institutions and portals, help consumers prevent late fees, protect against fraud, budget more effectively, and reduce financial anxiety. We’re thrilled to be working with Money Dashboard to expand the use of PFM services in the UK market.”
