Envestnet | Yodlee, a leading data aggregation and data analytics platform, has announced a partnership with South Africa’s FinTech hub AlphaCode, to provide African FinTech startups with quality financial tools.
Envestnet | Yodlee, which powers dynamic, cloud-based innovation for digital financial services, will provide AlphaCode with industry-leading data aggregation and account verification services, as well as access to FastLink to enhance the end-user experience.
This will let users in Africa to quickly link external bank accounts into a single dashboard, helping them make smarter financial decisions.
Also, entrepreneurs housed in AlphaCode will be able to leverage the offerings to create services, providing more affordable background checks when applying for loans.
“We are excited to support the development and evolution of financial services by providing access to our platform and solutions within AlphaCode. We believe that emerging entrepreneurs often shape the future of fintech, and partnering with AlphaCode provides them with access to our industry-leading data aggregation platform,” said Jason O’Shaughnessy, SVP of International Markets and Managing Director, EMEA at Envestnet | Yoodle.
He added, “Our goals of supporting global financial innovation are aligned, and we’re proud to boost Africa’s financial technologies potential.”
The strategic partnership will make quality financial tools available to African FinTech startups, thereby enabling them provide a better financial experience and decision-making process for consumers.
This will also help financial apps to evolve alongside Africa’s embrace of new technologies.
“African fintech businesses have provided some of the most exciting developments in global financial services in recent history,” said Chipo Mushwana, Head of Ecosystem and Management at AlphaCode.
She added, “We feel privileged to be in a position to grow promising, impactful business models. Partnering with Envestnet | Yodlee is improving on the tools we can provide to entrepreneurs allowing us to build better and more innovative businesses.”
The partnership sees AlphaCode become an official Envestnet | Yodlee International Partner, meaning it will provide startups three months of production-level access to Envestnet | Yodlee APIs, developer forums and support services.