US-based banking software and account aggregation service Yodlee recently announced a partnership with Limitless, a South African API marketplace and the company behind Moneysmart, South Africa’s first PFM (Personal Financial Management and Budgeting Tool.
The partnership allows for much closer integration between the two companies’ products. Limitless is, for instance, able to bake Yodlee’s Aggregation API into its Finlayer product and thus enable real-time data aggregation for financial enterprises.
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Limitless’s RESTful API and FinLayer in conjunction with Yodlee’s Aggregation API creates digital fingerprints around customers’ financial data, something which it says allows banks and creditors can easily make pre-qualified decisions.
“South Africa is an exciting new market for the financial technology industry and we are looking to build awareness for our services there,” said Jason O’Shaughnessy, SVP of International Markets and Managing Director, EMEA at Envestnet | Yodlee. “We have been partners with Limitless Technology since 2011 and we are excited to continue working together and expand our partnership in South Africa.”
“As we looked for a provider of data aggregation services, it became clear that Envestnet | Yodlee was the best partner for us,” said Zonja Terblanche, COO at Limitless Technology. “The Envestnet | Yodlee host of services including the new modern RESTful API, advanced data network and high-level of security are the main reasons we chose the company as our go-to partner.”
Limitless launched Moneysmart in 2011. The goal was to empower consumers by helping them manage their money better with a holistic view of finances, and learn ways to save and pay their debt off faster. Since then, the company has reengineered Moneysmart into a spend management application, with a re-launch scheduled for early 2016.