Decimal partners with fintech giant

15-Apr-2015

By Elizabeth Somerville

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Financial planning software provider Decimal has joined forces with United States fintech giant Yodlee to boost its US profile and accelerate its growth strategy in Australian and abroad.

Under the partnership, announced yesterday, Decimal’s software suite would be positioned as a complementary offering to Yodlee’s extensive US client list, which already included a number of major institutions, the group said.

The arrangement was expected to boost Decimal’s standing in the market as Yodlee’s operations currently spanned 15 countries and included an enterprise client base of over 800 organisations, which amounted to more than 45 million platform users.

“Since opening our San Francisco office in January, we’re excited to sign our first partnership with such a highly respected financial technology innovator and global brand in Yodlee,” Decimal executive chairman Michael Sertorio said.

“We believe this partnership not only validates the strength and potential of our product, but provides access to an expansive distribution channel to the US financial industry.”

Further, Decimal said it was currently in “advanced discussions” with a number of leading institutions in Australia and the US, and partnerships would continue to form a key part of the group’s marketing strategy going forward.

“Financial institutions are hungry to respond to the rapidly growing consumer preference for digital engagement and that’s where Decimal can fast track the path to innovation through mutually beneficial partnerships like [the one with Yodlee],” Sertorio said.

In addition, financialobserver in February reported the appointment of two ex-Macquarie staffers to the Decimal business here, which followed former Macquarie executive Carolyn Colley taking the helm as Decimal Australia and New Zealand chief executive in October last year.

Following 10 years at Macquarie, Jacqui Lennon was appointed as chief customer officer to oversee all customer touchpoints and enhance Decimal’s service experience and support.

Lanie Conquest also came on board as head of licensee sales and was given responsibility for delivering the company’s value proposition to institutionally owned and independent retail advice groups nationwide.

In addition, the group was also highly rated as a superannuation scaled advice application in the recent Investment Trends “2014 Planning Software Benchmarking Report”.

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