Envestnet|Yodlee introduces SpendSignals

Friday 13 October 2023 13:42 CET | News

Envestnet|Yodlee has introduced SpendSignals, an AI-powered solution that provides access to real-time consumer spending trends and insights on shopper purchasing patterns at competitors.

With this new introduction of SpendSignals, market research professionals and corporate strategists are able to do their own no-code analysis. As per the press release, they can now make use of enriched, de-identified data spanning sales, customer retention, market share, customer lifetime value and more.

Leveraging Yodlee's comprehensive data sets, which include information from over 1,600 merchants spanning more than 60 industries and trillions of dollars in consumer spending, direct-to-consumer brands and retailers can gain deeper insights into their competitive strengths. Moreover, they are also able to pinpoint market opportunities, anticipate consumer spending trends, enhance customer lifetime value, diagnose business challenges, and achieve much more.

Envestnet|Yodlee has introduced SpendSignals, an AI-powered solution that provides access to real-time consumer spending trends and insights on shopper purchasing patterns at competitors.

Furthermore, the company highlights that as the competition increases to find, capture, and retain customers, the need for solid and timely data is more important now than ever. Hence, SpendSignals aims to provide a tool to help businesses unlock opportunities as well as drive growth.

SpendSignals seeks to enable businesses to make informed decisions by enabling granular merchant-specific views by location, all the way down to the zip code and store level along with comparing online and in-store sales. Access to brand health metrics and insights also could allow for the development of messaging that resonates with a company's target audience.

About Envestnet

Based in the US, Envestnet aims to reshape the way financial advice is delivered through an ecosystem of technology, solutions, and intelligence. By establishing the connections between people's daily financial decisions and long-term financial goals, Envestnet enables individuals to make better sense of their finances. The company accounts for more than USD 5.4 trillion in platform assets, with more than 107,000 advisors, 16 US banks, and 47 wealth management and brokerage firms that rely on Envestnet technology and services to help drive better outcomes for their businesses and for their clients.

In June 2023, a merging debt collection software provider, Paycepaid, partnered with Envestnet|Yodlee to supply synchronised data for holistic customer financial hardship assessment. Under this agreement, Paycepaid was set to leverage consumer-consented financial data provided by Envestnet|Yodlee under Australia’s Consumer Data Right (CDR) to assist with near real-time financial hardship assessment of its customers.

In April 2023, diñeiro selected Envestnet|Yodlee to supply financial data and analytics so mortgage brokers can understand a borrower’s financial position. The diñeiro app, as a mortgage technology innovator, has been purpose-built to leverage both the Open Banking framework under Australia's Consumer Data Right and third-party data providers, allowing consumers to link their bank accounts, credit cards, loans, superannuation, insurance, motor vehicles, and residential property into a single digital platform.

Source: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords:	product launch, data sharing, financial services, artificial intelligence, fintech
Categories:	Banking & Fintech
Companies:	Envestnet \| Yodlee
Countries:	World

This article is part of category

Banking & Fintech

::: more