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Yodlee Promotes Strong Authentication Via New Strategic Partnership With RSA Security; To Deliver Secure, Aggregation-Friendly Two-Factor Authentication Solutions for Financial Institutions and Their Customers

Posted on: Thursday, 17 November 2005, 12:00 CST

Yodlee, Inc. and RSA Security Inc. (Nasdaq:RSAS) today announced a strategic alliance to help ensure compatibility of two-factor authentication and aggregation-powered applications for financial institutions and their customers.

Through the alliance, Yodlee and RSA Security will integrate the latter's strong (one-time password-based) authentication solutions with the full suite of Yodlee's aggregation-powered services, including online bill payment and personal financial management (PFM). In this way, customers will benefit from the high-convenience and information access that consumers have come to expect on the Internet, combined with a heightened level of security to protect against online fraud. The integrated solutions will also help financial institutions as they make plans to assess and strengthen online security to meet the newly-published FFIEC guidelines.

"The growth of malware on the Internet and the recent guidance from the FFIEC have prompted a renewed urgency into finding methods and technologies that will combat online fraud, including two-factor authentication," said Schwark Satyavolu, Chief Technology Officer at Yodlee. "RSA Security's experience with one-time password technology and its visionary new 'service-based model' make RSA Security a perfect strategic partner for Yodlee in serving the needs of the financial market. This is part of an ongoing commitment at Yodlee to work with leading vendors, standards organizations and financial institutions to ensure the compatibility of aggregation technology with new strong authentication approaches."

Yodlee has been a strong contributor in industry forums such as the Financial Services Technology Consortium, BITS, and the Liberty Alliance, to develop new standards for online authentication and stronger security practices.

"Yodlee-powered applications are at the heart of many consumers' online financial activities today, and our collaboration is a great example of responsible leadership. We are offering all parties unparalleled functionality for online financial transactions and robust security to protect data and identities," said Christopher Young, Vice President, Consumer Authentication Services at RSA Security. "By leveraging our proven identity protection techniques and Yodlee's compelling consumer functionality and security infrastructure, we will take significant steps toward fostering renewed confidence among consumers and financial institutions alike. This underscores the fact that effective safeguards against phishing and other forms of online fraud are available -- and ready to use -- today."

Combating Phishing & Fraud

RSA Security's strong authentication solutions are designed to provide users with bullet-proof identity protection and account lock-down. Used and trusted by more than 15 million enterprise customers around the world, RSA SecurID(R) authentication is based on something you know (a password or PIN) and something you have (an authenticator). This provides a much more reliable level of user authentication than static and reusable passwords, and helps to positively identify users before they interact with sensitive information and assets.

Yodlee's solutions -- including PFM, bill pay, and wealth and risk management applications -- are privately labeled and available in hosted or enterprise software editions to financial services providers worldwide.

An integrated Yodlee-RSA solution will be available in mid-2006.

About RSA Security

RSA Security Inc. is the expert in protecting online identities and digital assets. The inventor of core security technologies for the Internet, the company leads the way in strong authentication and encryption, bringing trust to millions of user identities and the transactions that they perform. RSA Security's portfolio of award-winning identity & access management solutions helps businesses to establish who's who online -- and what they can do.

With a strong reputation built on a 20-year history of ingenuity, leadership and proven technologies, we serve approximately 19,000 customers around the globe and interoperate with more than 1,000 technology and integration partners. For more information, please visit www.rsasecurity.com.

About Yodlee

Yodlee is the leading provider of innovative, reliable and secure technology solutions that enable more satisfying and profitable relationships for financial institutions and their customers. Built on the patented Yodlee Platform, Yodlee solutions enable powerful Personal Financial Management, Bill Pay, Wealth Management, and Risk Management applications for more than 100 leading companies, including Ameriprise Financial, AOL, Bank of America, Charles Schwab, E*TRADE Financial Corporation, Fidelity, JPMorgan Chase, Merrill Lynch, MSN, and Wachovia. Yodlee is headquartered in Redwood City, California and can be reached at 650-980-3600 or www.yodlee.com.

Source: Business Wire

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