Yodlee, Inc., the leading provider of online and mobile personal finance management (PFM) and payments solutions, and Money Dashboard, an online, personal finance management solution for UK consumers, today announced plans to open the Money Dashboard personal finance management portal, powered by Yodlee PersonalFinanceª, to all UK consumers in 1H 2010. Recent Money Dashboard research demonstrates how 75 percent of UK consumers are using online banking, up from 54 percent in 2005 (BBA annual report), which illustrates that the UK market is primed for the shift to PFM. Recent analyst data further confirms that PFM solutions, which allow consumers to view and interact with all of their financial accounts in one place, are in high demand by consumers, with nearly one in four seeking a better online PFM solution (Javelin Strategy & Research). Money Dashboard's free, easy-to-use online personal finance management solution helps consumers build confidence in their financial situation, bringing clarity and confidence to financial decision making. With its new service, Money Dashboard will alter the consumer's view of financial products and shift the focus from credit management to growing savings and building wealth. Gavin Littlejohn, Money Dashboard's CEO, explains: We have spent four years addressing the most effective ways to alleviate growing consumer problems including a lack of financial awareness, management and control. Through the new partnership with Yodlee, in an effort to organize and update consumer data safely and securely, we have built a user experience to provide insight into one's individual finances, and help the customer identify financial products that best meet their needs. Yodlee is the leading provider of secure and personalized online PFM services in the U.S., powering 85% of the industry, with more than 20million consumers at leading bank and portal sites. Consumer anxiety over finances is not an American phenomenon, says Yodlee CEO, Anil Arora. Our research clearly indicates that online PFM services, offered by both financial institutions and portals, help consumers prevent late fees, protect against fraud, budget more effectively, and reduce financial anxiety. We're thrilled to be working with Money Dashboard to expand the use of PFM services in the UK market. Behind Money Dashboard is a noteworthy board comprised of some of Scotland's biggest business leaders, including Chairman Stuart Sinclair, the former CEO of Tesco Personal Finance and GE Capital in the UK and China, and David Robinson, founder and former CEO of Bright Grey.
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