Decimal forms partnership with fintech giant Yodlee
Financial services cloud-based software service Decimal Software announced today that it has entered a partnership with US fintech company, Yodlee.
The partnership will give Decimal access to the US institution and wealth management market through Yodlee's client base of over 800 organisations that is in excess of 45 million users on its platform.
"Financial institutions are hungry to respond to the rapidly growing consumer preference for digital engagement and that's where Decimal can fast track the path to innovation through mutually beneficial partnerships like this," Decimal's executive chairman, Michael Sertorio, said.
Decimal's patented technology platform will be offered to Yodlee's clients. Decimal's approach has enabled non-financially literate consumers with financial needs, but no desire to become active and engage, to get advice they will act on.
This includes non-conflicted product choice and purchase, and an ongoing digital reporting service.
Decimal said that its product is helping finance and banking companies fight back against robo advisers and other fintech competitors as its tech does not assume the consumer is financially literate.
Also, product providers will have open and online access to offer their products and services to the consumer creating a new digital distribution channel.
Recommended for you
AMP CEO Alexis George has said addressing Australians’ retirement concerns should be "front and centre for policymakers” after its research revealed only half of Australians are confident about their retirement.
LGT Crestone has announced a rebrand, marking a “decisive milestone” following its acquisition of Commonwealth Bank’s high-net-worth financial advisory business in June.
The launch of a low-cost menu for BT Panorama will allow advisers to service a wider range of clients from one platform and potentially run a more profitable business, according to specialist Recep Peker.
Retail investment into private credit funds could surpass that of sophisticated investors, according to ASIC, but the regulator admits it is unsure how and where these individuals are first being introduced to the vehicles.
