December 1, 2004 12:41 PM
Account Aggregation: All-In-One Convenience
Excerpt: Many banks offer aggregation on their Web sites. But if your bank or credit union doesn't have a Web site, you can sign up directly for My Yodlee service with Yodlee, the company that provides the technology to most banks.
You have a checking account and a credit card from one bank, charge cards from two other banks, and a portfolio at an online brokerage. On top of that, you belong to two frequent-flier clubs.
Congrats. You're doing well.
There's another piece of good news: All of these accounts can be monitored on the Web, so you can look at your checking balance, see when your next payment is due, and swoon at your portfolio's performance. But who remembers all those log-in names and passwords?
Account aggregation lets you collect all that information onto one Web page. You log onto a Web site, enter a user name and password, and see information from several sites, each with its own user name and password. The data are collected and displayed in a format that you can use.
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