This divestiture aims to facilitate Yodlee’s growth under STG’s management while ensuring continued support of clients. Both companies will maintain their commitment to customer needs, regulatory compliance, and market adaptability.
Details of Envestnet’s Strategy
According to the official press release, upon completion, Yodlee is expected to integrate into STG’s global technology portfolio, which includes RSA, Trellix, and SurveyMonkey. STG intends to leverage its expertise and service offerings to enhance Yodlee’s value delivery, talent attraction and retention, and overall business performance.
With a customer-centric approach, the companies will invest in technologies aimed at delivering secure solutions for the financial sector. Post-transaction, Yodlee is anticipated to gain operational flexibility, accelerating market entry and innovation within the open finance ecosystem.
This sale allows Envestnet to concentrate on its core connected wealth management platform, insights optimization, and comprehensive solutions. Through this partnership, advisors will continue to have access to data aggregation technology crucial for business strategy development.