Schwab and Envestnet Yodlee strike deal on data sharing
Clients will be able to connect with 1,200 providers on the data aggregator's platform
Envestnet Inc. and Charles Schwab Corp. have agreed to enable Schwab clients to connect and share their financial data with more than 1,200 financial service providers using the Envestnet Yodlee platform.
Access will be based on client consent and tokenization, allowing them to use an application without having to enter and store usernames or passwords with any third party, Envestnet said in a release.
Teams from both firms are now working on the integration, according to the release.
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