Description
Delivering financial data from more than 15,000 global financial sources, the Envestnet® | Yodlee® Aggregation API enables personalized and powerful financial apps.
This Exchange package provides the capability to verify and retrieve bank account details through Yodlee services.
In order to perform funding through an external account, it is recommended to verify the account details with the applicant's details.
Yodlee services offer 2 ways to perform account verification.
1. Link accounts through Yodlee using the FastLink UI (immediate verification).
2. Perform a challenge deposit (3-5 working days verification).
The first option is to open an iframe with the FastLink UI. This option will allow the applicants to log in to their bank account through Yodlee. In this case, Yodlee can verify the account immediately.
However, there are some applicants who might resist entering their bank details through the application. For these applicants, Yodlee are offering the Challenge deposit account option.
In this case, the applicant will provide the bank account details they wish to use for funding, and Yodlee will perform 2 deposits and 1 credit into those accounts.
Once the transactions have been completed, the applicants will be required to provide the exact amount for each deposit and credit that was done through Yodlee to their Bank account.
Upon successful verification of the deposit and credit amounts, Yodlee will confirm that the account is verified and the request for funding through the account can be initiated.
Reference
- Yodlee_FastLink_Integration_Guide
- https://www.yodlee.com/products/apis/aggregation-api/
- https://www.yodlee.com/products/apis/account-verification-api/
Release Notes
- Version 1.2: Nov 13, 2019 - Use Narrator form action. Add execution status, error code and error message to server and client VO's.
- Version 1.1: Feb 1, 2019 - Upgrade to support the latest Yodlee FastLink version 3.0 with the latest API’s.
- Version 1.0: Feb 25, 2017 - Baseline release