Business Editors
PRINCETON, N.J. and SUNNYVALE, Calif.--(BUSINESS WIRE)--June 20, 2000
Paytrust(R) the service that lets consumers receive, review, pay and organize all their bills online, announced today that they have signed an agreement with Yodlee.com(TM) to be a content
Yodlee's Personalization Platform enables users to create a dynamic summary of all their personal account information from nearly 1,400 sites across the web, from finance to travel.
Through this partnership, Paytrust will be accessed on Yodlee.com as well as through all Yodlee co-brands that provide a bill category. Users will be able to securely view 100 percent of their bills online and, with a single click to the Paytrust service, pay any bill from any bank.
"There are tremendous synergies between Yodlee and Paytrust. Our services are both founded on the underlying principle that consumers are looking for more ways to streamline and improve their lives online," comments Edward G. McLaughlin, CEO of Paytrust. "The financially savvy Internet users who already access the Yodlee service, match up well with our target demographic and we look forward to presenting our solution to millions of users across the Web."
"The relationship with Paytrust enables us to substantially expand the depth of our bills offering to give people a broader picture of their financial portfolio," said Anil Arora, president and CEO of Yodlee. "This is an important step in offering users the convenience of easy, centralized access to all their accounts as well as the ability to act upon that information, such as paying their bills through one-click access to the Paytrust service. This will further increase the value and convenience of our personalization platform, helping users simplify their lives."
As a Content Partner, Paytrust will also utilize Yodlee's Auto-Login function, which enables users to securely access their accounts without having to re-enter their user name and password each time, as well as Yodlee2Go services, which automatically re-formats and presents users' account information on multiple mobile/wireless devices.
About Paytrust
Through Paytrust's proprietary technology, subscribers can receive and pay 100 percent of their bills online or using a wireless device. Paytrust subscribers receive bill notifications and reminders via email rather than physical mail, and they can review their bill information from anywhere they have access to the Internet. Paytrust can issue payments directly from any check writing account designated by a customer, provide information that enables a customer to balance their checkbook and provide data that a customer can download into their personal financial management software.
Paytrust is the flagship service of PAYTRU$T, Inc., a privately held company based in Princeton, New Jersey. Founded in October 1998, the company is financially backed by investors including American Express, AT&T Ventures, Citigroup, GE Equity, Goldman Sachs, NextCard, SOFTBANK Venture Capital, Spectrum Equity Investors and Thomas Weisel Partners. More information on the company can be found on its Web site located at http://www.paytrust.com or by calling 1-800-PAYTRUST.
About Yodlee.com
Founded in 1999, Yodlee.com is revolutionizing the way consumers use the Internet by delivering the first e-Personalization Platform. The Yodlee service provides users dynamic summaries and one-click access to personal account information, including bank balances, travel reservations, e-commerce sites, email, news, and more -- nearly 1,400 leading Web sites. Consumers can access this service via Yodlee.com co-brand partners or at the Yodlee.com website. The Yodlee e-Personalization Platform is the foundation for personal services offered by co-brand partners like Intuit, AltaVista, and FreeInternet.com. Yodlee.com is backed by venture capital firms Accel Partners and Sequoia Capital and an elite group of private investors, including the founders of Hotmail, Junglee, Exodus Communications. The company is based in Sunnyvale, Calif. and can be reached at 408-522-1194 or toll-free at 877-296-3533, info@yodlee.com, or www.yodlee.com.
Paytrust is a registered trademark and SmartBalance is a trademark
of PAYTRU$T, Inc.