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Agreement signifies alignment between TD and Envestnet | Yodlee about access to customer financial data
TORONTO and SAN MATEO, Calif., Sept. 21, 2021 /CNW/ - TD Bank Group and Envestnet | Yodlee today announced a data access agreement to address the needs of an increasingly digital customer base. This North American agreement signifies the alignment between TD and Envestnet | Yodlee about protocols to provide for the safe and secure access of TD customer financial data to support the customer's requests to share with the financial wellness apps and experiences of their choice. TD Bank becomes the 13th bank in North America to sign such a data access agreement with Envestnet |Yodlee.
Through this agreement, TD customers will be able to more reliably and effectively connect to and send their financial information to the more than 1,400 third-party applications powered by the Envestnet | Yodlee financial data aggregation platform. At the customer's request, TD will now transfer the customer's financial data to Envestnet | Yodlee through Application Program Interfaces (APIs) eliminating the need for customers to share their banking login ID or password.
"We are excited to announce our first data access agreement for API-based connectivity with a Canadian headquartered financial institution," said Chad A. Wiechers, Senior Vice President of Data Acquisition and Strategy, Envestnet | Yodlee. "Our relationship with TD is vital for empowering customers to make intelligent financial decisions, while also benefitting from greater connectivity and security across their accounts."
"We know that our customers are interacting with us through digital channels more than ever before and we are focused on helping meet their needs however they choose to bank," says Franklin Garrigues, VP, Digital Channels, TD. "This agreement supports our goal of offering our customers a secure and confident experience when they are accessing digital services that are outside their bank."
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the fifth largest bank in North America by assets and serves more than 26 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 15 million active online and mobile customers. TD had CDN$1.7 trillion in assets on July 31, 2021. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
Envestnet refers to the family of operating subsidiaries of the public holding company, Envestnet, Inc. (NYSE: ENV). Envestnet 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.
SOURCE TD Bank Group
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