Yodlee Survey Finds Demand is Growing for Online Personal Finance Tools in UK

By Yodlee Inc., PRNE
Tuesday, August 10, 2010

Survey reveals more than half want more online banking products, yet few are aware of availability

REDWOOD CITY, California and LONDON, August 11, 2010 - Yodlee, Inc., the leading provider of online personal financial
management (PFM) and revenue-generating payments solutions and services for
more than 25 million users, conducted a survey of more than 500 UK based
financial decision makers. The study examined the UK attitudes, usage, and
behavior concerning online banking and online financial planning.

The survey showed that despite the large demand for online single
destination financial management, there is low awareness of where to go for
such services.

    Results indicated:

    - More than half of respondents were highly interested in managing their
      money online using one website and over two-thirds wanted it to be
      provided by a trusted financial institution, such as their bank.

    - However, 65% were unaware that such a product even exists,
      demonstrating a tremendous need and opportunity for online personal
      financial management services.

The survey further revealed that there is a high demand for one secure
destination for people to manage their finances, based on current usage
patterns. The study showed:

    - When asked how many different websites they currently use to manage
      finances, over one-third of respondents use three or more websites to
      manage their finances.

    - Over half of those surveyed check their online account every week or
      more, and do so for the convenience and control it offers them.

"There is a great opportunity to educate the public about fiscal
responsibility and help them improve their financial habits, and ultimately
improve their financial situation," said Jason O'Shaughnessy, Managing
Director, EMEA at Yodlee . "We believe simple online tools that help
consumers better manage and understand their money - anywhere, anytime, and
from any computer or mobile device - are what consumers really want and need,
and these survey results clearly show that. This is a time when technology
should be making money management easy, intuitive, and insightful, not
complicated and scary. In Europe, there are a number of solutions being
powered by Yodlee already, and many more starting to come online,
demonstrating there is high demand from consumers."

Interestingly, 25% of UK survey respondents said they would consider
switching banks to get the online personal financial management services in
one place, a particularly strong indicator in a market where switching
providers has traditionally been uncommon.

Yodlee-powered services provide a single destination for personalized and
proactive money management, empowering online and mobile users to take charge
of their finances at their financial institution or portal of choice. PFM
services in the U.S. are adding more than 30,000 new users every day, proving
the high demand from consumers globally for better money management tools.
Several UK companies have rolled out versions of Yodlee PersonalFinance,
including Moneydashboard, Covestor, Sammedia and Lovemoney.

Yodlee solutions are available as a complete, end-to-end solution or as
individual components ready for secure integration into any existing online
banking system or website. For more information on Yodlee solutions and
services, visit www.yodlee.com.

This survey was conducted online between April 13 - 20, 2010 and examined
UK attitudes toward online financial planning. There were over 500
respondents. The questionnaire was completed by a representative sample of
financial decision makers who hold a current financial account in the UK.

About Yodlee

Leading financial institutions and portals trust Yodlee to power critical
online banking applications that increase profitability and drive more value
from the online channel. Yodlee's proven, patented personal financial
management, payments, and customer acquisition solutions unify all personal
financial account information to deliver a simple, centralized and secure way
for consumers to manage all of their financial tasks anytime, anywhere.
Yodlee makes financial institutions' websites essential to their customers
and generates new deposit and revenue opportunities. Yodlee's patented data,
payments and risk management utility supports more than 12,000 unique account
sources and over 120,000 different account types. More than 200 leading
financial institutions and portals offer Yodlee-powered solutions to millions
of customers worldwide. Yodlee is headquartered in Redwood City, California.
For more information, visit www.yodlee.com.

Yodlee is a registered trademarks of Yodlee, Inc. All other products and
services mentioned are the property of their respective owners.

Sharon Nieuwenhuis, RLM Public Relations for Yodlee, Inc., +1-212-741-5106 x237, yodlee at RLMpr.com

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