Innovative blockchain company uses Envestnet | Yodlee’s open banking technology to accelerate user acquisition
London, 10 August, 2021— Envestnet | Yodlee, a leading data aggregation and data analytics platform for financial services, has announced it will provide account verification for one of the most widely-used consumer crypto products and the leading institutional crypto solutions provider, Blockchain.com.
Envestnet | Yodlee will provide open banking access to new Blockchain.com users, accelerating Blockchain’s ability to onboard new customers and securely fund their accounts through real-time account verification, directly from the user’s bank account, without the need to provide micro-deposits. This verification is key to preventing fraud, especially as the use of digital payments has increased during the COVID-19 pandemic.
A faster onboarding process will help Blockchain.com increase its user acquisition. The company already has 32 million verified users in more than 200 countries and has seen an increase in active users over the past 12 months.
Envestnet | Yodlee is a market leader in financial data aggregation, enabling innovation and insights for financial service providers. It has partnered with more than 1,400 financial institutions and FinTech innovators, which enables firms to build innovative financial solutions with access to an industry-leading application programming interface (API).
Jason O’Shaughnessy, Head of International Sales at Envestnet | Yodlee, said: “The financial services industry is being disrupted by a new wave of innovative businesses, and for these businesses to thrive they need to be able to acquire new users at speed. Simplifying the verification process enhances the user experience and cuts down onboarding to a matter of seconds.”
Jason Karsh, VP of Marketing at Blockchain.com, said: “Interest in cryptocurrency has never been greater. As we onboard increasingly larger numbers of new customers onto Blockchain.com each day, it’s incredibly helpful to be able to connect to one’s bank in an easy and trusted manner leveraging Envestnet | Yodlee’s account verification solution.”
Envestnet, Inc. (NYSE: ENV) is transforming the way financial advice and wellness are delivered. Our mission is to empower advisors and financial service providers with innovative technology, solutions and intelligence to make financial wellness a reality for everyone. Nearly 108,000 advisors and more than 6,000 companies including: 17 of the 20 largest U.S. banks, 46 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs and hundreds of FinTech companies, leverage Envestnet technology and services that help drive better outcomes for enterprises, advisors and their clients.
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Blockchain.com is connecting the world to the future of finance. The London-based company, with an international team spread across the world, is the most trusted and fastest growing crypto company, helping millions across the globe — from single individuals to the largest institutions — safely access cryptocurrency. Through the use of blockchain technology, Blockchain.com is revolutionizing the $14T financial services industry. The company has raised over $490 million in funding from leading global investors including: Baillie Gifford, GV, DST Partners, Lakestar, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Kruptos Assets Limited, and others.