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Business Logic and Yodlee Team to Deliver Direct Data Feeds From Retirement Plan Providers.


Business Editors/Hi-Tech Writers

REDWOOD SHORES, Calif. & CHICAGO--(BUSINESS WIRE)--Aug. 12, 2002

Business Logic, Yodlee's Preferred Integration Partner for the Retirement and Employee Benefits Industries, Enables Direct Data Feeds for the Aggregation of Employee Benefit and 401(K) Accounts

Business Logic, an application and integration solution provider for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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 industry, and Yodlee, the world's leading provider of aggregation data and solutions, today announced that the companies have partnered.

Per the agreement, Business Logic's clients will be able to provide Yodlee with secure, direct data feeds to more than 10 million 401(k) investor accounts. In addition, Business Logic will become Yodlee's preferred integration partner for the Retirement and Employee Benefits industry.

Direct data feeds from the leading Retirement and Employee Benefit providers will enable Yodlee's network of clients, application partners and end-users to access the largest single source of 401(k) account information. It also reduces the impact on their mutual 401(k) partners' infrastructure by providing them a more efficient way to send Yodlee data.

The Yodlee/Business Logic partnership gives retirement plan providers numerous direct data connectivity options including Business Logic's Net-Finance Link software, Yodlee's YML YML Your Mac Life (internet based radio show)
YML Yaml Ain't Markup Language (file extension)
YML Young Mother's League
YML Yahoo Messenger Library
 protocol, OFX OFX Open Financial Exchange
OFX Outer Fix
OFX Open Effects
, as well as other feeds the provider may have already created.

"Business Logic's established position in the Retirement and Employee Benefits markets will further enhance Yodlee's ability to deliver the most robust and reliable aggregation powered solutions in the marketplace," said Business Logic CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  and President John Patterson John Patterson can mean any of the following:
  • John Patterson (1805-1856), a Canadian businessman and canal builder
  • John J. Patterson US senator from South Carolina from 1873 to 1879.
  • John W.
. "Business Logic is looking forward to a partnership that will benefit all parties - individual investors, financial institutions, retirement plan providers, and corporate plan providers."

"Our partnership with Business Logic will significantly advance our strategic goal of shifting toward direct data feeds as the primary means of aggregation," said Anil Arora, Yodlee president and chief executive officer. "Given our mutual clients and our common goals, the synergies of this partnership are a winning combination."

About Business Logic

Business Logic Corporation is an Application and Integration Solutions Provider focused on the front-office needs of the financial services and employee benefits industries. Business Logic has been providing integration and application solutions to top tier financial institutions and their partners since 1996.

Our solutions allow over 10 million investment account holders at multiple financial institutions to access and manage their money. Business Logic believes there is a significant and growing opportunity, for institutions to efficiently and securely integrate disparate front-office applications and data from internal businesses and external partners.

With a strategic approach to applications and integrations, financial institutions will save money and have more flexibility in providing services to clients.

About Yodlee

Yodlee is the world's leading provider of aggregation data and solutions.

Yodlee's secure, scalable Aggregation Engine enables financial institutions and portals to become a true online hub for their customers, increasing retention and loyalty, decreasing acquisition costs, and providing unprecedented new revenue opportunities through more personalized services and a deeper understanding of customers' behavior and individual financial needs.

Yodlee-powered services are available at most of the leading global financial and portal sites, including AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , Bank of America
See also:  and


Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
, Citibank, Fidelity, First Union, J.P. Morgan Chase, Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. , Morgan Stanley, MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). , and Yahoo. Yodlee is headquartered in Redwood City, California Redwood City is a suburb located on the San Francisco Peninsula in the San Francisco Bay Area of California. Redwood City is the county seat of San Mateo County. As of the 2005 census, the city had a total population of 76,000.  and can be reached at www.yodlee.com.
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Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Aug 12, 2002
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