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Envestnet | Yodlee Acquires Abe AI to Revolutionize Financial Wellness and Wealth Management with Conversational AI

01/24/19 9:00 am EST
New conversational AI puts consumers at the center of the financial experience and advances Yodlee's retail banking and soon, Envestnet's wealth management offerings

REDWOOD CITY, Calif., Jan. 24, 2019 /PRNewswire/ -- Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, recently acquired Abe AI which enables Yodlee's new Conversational AI. Improving the way Financial Service Providers (FSPs) can interact with their consumers, this new offering is now available to be fully integrated with Yodlee's financial wellness APIs and apps, other retail banking solutions, and in the future, Envestnet's wealth management offerings.

Not only do Envestnet | Yodlee's Financial Wellness Solutions allow retail banks and fintechs to provide actionable advice and personalized financial coaching, they now enable these FSPs to capitalize on the rapid mainstream adoption of conversational interfaces enabled by one of the market pioneers and leaders, Abe AI. As a result, these FSPs are able to better engage, support, and assist their consumers leveraging this latest wave of customer-centric capabilities. By delivering a customer-centric experience and greater customer engagement, FSPs can also derive deeper consumer insights that help them become more competitive and profitable.

Using natural language processing specifically tailored to financial services, Envestnet | Yodlee Conversational AI enables FSPs to connect directly with consumers across all major conversational ecosystems, including Amazon Alexa and Google Assistant. The recently acquired Abe AI, and their industry-leading conversational solution will enable consumers to speak naturally and engage in human-like dialogue with their FSP. Consumers will benefit from this state-of-the-art user experience, build better financial relationships with their FSPs, and improve their financial wellness.

"Conversational artificial intelligence will immediately complement our entire Envestnet portfolio, propelling financial data interactions and analytics to the next level," Brandon Rembe, Envestnet | Yodlee Senior Vice President of Product Management, said in a statement. "We believe adding industry-leading intent and entity recognition capabilities to our premiere data aggregation and analytics platform and financial wellness solution will be indispensable to the next generation of consumer financial offerings."

About Envestnet
Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet's unified technology empowers enterprises and advisors to more fully understand their clients and deliver actionable intelligence that drives better outcomes and improves lives.

Envestnet Wealth Solutions enables enterprises and advisors to better manage client outcomes and strengthen their practices through its leading Wealth Management Operating System and advanced portfolio solutions. Envestnet Tamarac provides portfolio management, reporting, trading, rebalancing and client portal solutions for registered independent advisors (RIAs). Envestnet Data & Analytics provides intelligent solutions that enable dynamic innovation through its Envestnet | Yodlee platform.

More than 3,500 enterprises and over 92,000 advisors including: 15 of the 20 largest U.S. banks, 43 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisors, and hundreds of Internet services companies leverage Envestnet technology and services.

For more information on Envestnet | Yodlee, please visit www.yodlee.com and follow @Yodlee.

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SOURCE Envestnet | Yodlee

For further information: Keith Mutzman, 650-980-3707, kmutzman@yodlee.com

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