Chase Teams With Yodlee.com to Offer a Ground-Breaking Data Aggregation Service; Combines the Power of Chase with Yodlee.com's Market Leading Personal Account Aggregation Platform.Business Editors & High-Tech/Financial Writers REDWOOD SHORES, Calif. and NEW YORK--(BUSINESS WIRE)--June 19, 2000 The Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. today announced its intention to offer an on-line account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. service powered by Yodlee.com, the pioneer and demonstrated market leader for personal account aggregation services on the Internet. The new service, free to Chase customers, will be rolled out later this year. Chase, building on a long history of leadership in complex financial offerings, is the first financial services institution to announce a partnership with Yodlee.com. A trusted source for financial information, Chase will leverage Yodlee's e-Personalization Platform to provide customers with a single, summary view and easy access to all their financial accounts from many providers--bank accounts, investments, loans, bills and more. This is part of an aggressive strategy by Chase to continue leading the development of new and innovative on-line financial services to help consumers manage and simplify their lives. "Consumers want to see their entire financial relationship in one place, and Internet technology now makes this easier than ever," said Bruce Zimmerman, Senior Vice President for Chase National Consumer Services. "After reviewing all of the choices consumers have, Chase decided that partnering with Yodlee combines the best available technology with Chase's strict adherence to the highest standards of consumer privacy and data security. We intend to lead the industry in providing aggregation services and to take an active role in shaping policy and being an advocate for our customers." "This agreement marks a new era for consumers with regard to on-line financial services. Consumers will now be able to combine the convenience and power of our account aggregation with the strength and expertise of an industry leader like Chase," said Anil Arora, 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. of Yodlee.com. "This is a milestone for consumers who will now be able to manage their entire financial portfolio online with a trusted financial provider like Chase." "The aggregation of financial information is a key part of our Internet strategy, and Yodlee is the best-of-breed partner to help deliver this powerful functionality to our retail customers," said Denis O'Leary, head of Chase.com. "Yodlee has a clear view of the future that's an excellent match for Chase - both companies place the highest priority on data security, consumer privacy and the development of value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services. We will leverage each other's strengths as we move data aggregation into a new era." Chase.com, in partnership with Chase Capital Partners, is the Chase unit responsible for developing joint ventures with Internet companies and often makes strategic investments in those companies. About Chase The Chase Manhattan Corporation The Chase Manhattan Corporation was a bank holding company formed as parent of the Chase Manhattan Bank. During its time as the parent company, it was led in succession by David Rockefeller, Willard C. Butcher, and Thomas G. Labrecque. (NYSE NYSE See: New York Stock Exchange :CMB Noun 1. CMB - (cosmology) the cooled remnant of the hot big bang that fills the entire universe and can be observed today with an average temperature of about 2. ) is a premier global financial services firm headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of with assets in excess of $390 billion. Chase combines the best of commercial and investment banking, offers world-class information and transaction processing services, and has a leading U.S. consumer franchise that serves 30 million customers. Through its newly formed business unit, Chase.com, Chase is successfully creating innovative business models for the New Economy. Chase, with offices in more than 45 countries, has a presence in all of the principal centers around the world. Chase can be reached on the web at www.chase.com. About Yodlee.com Founded in 1999, Yodlee.com is revolutionizing the way consumers use the Internet by delivering the first e-Personalization Platform. The Yodlee.com service provides users dynamic summaries and one-click access to personal account information, including bank balances, travel reservations, e-commerce sites, email, news, and more from nearly 1,400 leading Web sites. Consumers can access this service via Yodlee.com co-brand partners or at the Yodlee.com Web site. The Yodlee e-Personalization Platform is the foundation for personal services personal services n. in contract law, the talents of a person which are unusual, special or unique and cannot be performed exactly the same by another. These can include the talents of an artist, an actor, a writer, or professional services. offered by co-brand partners like 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. , Intuit, AltaVista, and FreeInternet.com. Yodlee.com is backed by venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] Accel Partners, Sequoia Capital and an elite group of private investors, including the founders of Hotmail, Junglee, and Exodus Communications. The Company is based in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. and can be reached at 650-980-3600 or toll-free at 877-296-3533, info@yodlee.com, or www.yodlee.com. |
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