Yodlee Interactive Announces Latest Winning Incubator Companies -- Matchfund and Sociogramics
A New Approach to Identity Verification (Sociogramics) and Financial Training for Teens (Matchfund) Lead the Class in Financial Tech Innovation and Receive Support from Yodlee's Financial Platform
REDWOOD CITY, Calif., Nov. 29, 2012 /PRNewswire/ -- Yodlee Interactive, the industry's only financial cloud and the leader in financial technology innovation, today announced the second group of companies selected for the Yodlee Interactive Incubator Program (announced earlier this year): Matchfund and Sociogramics. Out of an overwhelming number of highly qualified submissions, Matchfund and Sociogramics were chosen in this round because they represent such high innovation potential and fill significant needs in the financial solutions market.
The Yodlee Interactive Incubator Program represents a unique approach to helping young start-up companies, based on the idea that every business, every idea, and every entrepreneur is different and no one-size-fits-all program is sufficient. The Yodlee Interactive Incubator Program offers full Yodlee API access, development assistance, distribution, financial support, partner introductions, and much more, depending on what each selected company needs for its own business growth and success. Companies are chosen based on the power of the idea, disruptiveness or potential value of the innovation to financial services and/or commerce, strength of the business model and ability to benefit from the Yodlee Platform.
Selected winners Sociogramics & Matchfund are bringing powerful new ideas to two important market segments: the unbanked/under-banked, and the growing Gen Y/teenage population. Sociogramics uses existing and emerging alternative data to help financial institutions identify creditworthy consumers who are currently underserved or denied access to credit using traditional models. Matchfund helps parents teach teens about money through a digital allowance.
"We announced our Accelerator and Incubator Programs in May, and had an amazing response from entrepreneurs driving change in how people interact with their money, and in how financial institutions serve their customers. Sociogramics and Matchfund are fantastic examples of the ideas that can flourish when innovation in financial technology is made possible," said Joseph Polverari, Chief Strategy and Development Officer at Yodlee and Managing Director of Yodlee Interactive. "Our goal is to help bring great concepts with high innovation quotients – meaning they fill a huge need and/or have the potential to disrupt the way things are currently done in very positive ways – to market faster. We look forward to helping Sociogramics and Matchfund evolve."
"We are honored to have been chosen to participate in Yodlee Interactive's program and looking forward to tapping the power of the Yodlee platform. Over 80 million adult Americans are not receiving full access to credit and together with Yodlee we can reverse that outcome," said Eric King, Vice President at Sociogramics.
"Matchfund is excited to be part of Yodlee Interactive Incubator Program, a great opportunity for young start-ups in the financial services space. Yodlee's industry expertise and close knit relationships with the world's largest financial institutions have proven truly invaluable in showcasing the strengths of the Matchfund solution."
Yodlee Interactive grew out of Yodlee's rapidly-growing platform API business, which today powers innovative ideas for more than 300 customers in 25 different markets. The Yodlee Interactive application programming interface (API) provides permission-based access to transaction-level financial data covering bank accounts, insurance, rewards programs, and investment accounts, across any digital channel. Companies have used Yodlee Interactive's financial cloud for far-reaching applications, including consumer debt reduction, small business, tax, lending, targeted marketing, and eWallet applications.
Apply Now: Yodlee Interactive Incubator & Accelerator Programs Selecting Applicants!
Yodlee Interactive is now accepting applications for the next class of incubator and accelerator companies.