HSBC Partners with Yodlee to Launch Easyview
Aggregation Offering Enables Customers to View, Access and Manage All HSBC and Non-HSBC Online Personal Accounts
4 February 2003
New York and Redwood Shores, Calif. – HSBC Bank USA and Yodlee, a leading provider of aggregation services worldwide, today announced the launch of a specialized aggregation service for HSBC customers, EasyView. The service, which is available at no additional cost to Personal Internet Banking Bill Pay customers, is located at us.hsbc.com/easyview.
EasyView enables users to view, access, and manage virtually all their online personal accounts, including banking, investments, credit cards, travel, email, and news, on one page, from the HSBC site using a single, secure password. Yodlees aggregation engine powers the service by gathering data from an industry-leading 7,300 sources. The engine uses a variety of techniques including direct data feeds and OFX/QIF downloads to gather user-specific account information. Once gathered, all data passes through Yodlees unique C.A.N® process, which cleanses, augments, and normalizes the data before it is presented to the user. By leveraging this technology on its own web site, HSBC provides customers the power and convenience of one-click access to all their HSBC accounts, as well as access to accounts they have with other financial institutions, in a central, trusted location.
According to John Camp, Senior Vice President, e-Business, HSBC Bank USA, "This is an opportunity for HSBC to bring to market a service that offers tremendous convenience to our most Internet-savvy customers. EasyView is a valued-added offering that our Bill Pay users will quickly come to appreciate."
"Were pleased to be working with HSBC Bank USA to provide their customers with a superior online banking experience, adds Anil Arora, president and CEO of Yodlee. With U.S. banks averaging a 17 percent online activity rate, its clear that consumers don't see enough value in viewing just one or two accounts to make online banking a consistent part of their lives. Banks need to provide their customers with more reasons to visit their site and they're turning to aggregation to power that effort. With the average aggregation user consolidating six accounts, it greatly increases the value of a banks online service and has resulted in a seven percent lift in retention."