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thirdstream to Leverage Envestnet | Yodlee Platform for Immediate EFT Account Funding at Onboarding

thirdstream Enables Canadian Financial Institutions to Access and Connect Customers’ Bank Accounts at Account Opening

LETHBRIDGE, AB,  November 30, 2017 thirdstream, Canada’s leading onboarding software provider for the financial services industry, today announced a strategic alliance with Envestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. thirdstream will leverage the Envestnet | Yodlee Account Verification API to further enhance the account opening experience for its client base, which includes a growing number of credit unions, retail banks, trust companies and wealth management firms. This will allow thirdstream’s clients to make it easy for customers to automatically connect and access their bank accounts in real-time when opening an account or applying for a loan or credit card via thirdstream’s platform, cumulus.

This is significant to the financial services industry because most account verification processes take days to complete and require customers to verify micro-deposits to their bank accounts to validate accounts. Adding the Envestnet | Yodlee Account Verification API to cumulus means that thirdstream can now make this happen in real-time. Transfer of funds is simple, with customers only needing to enter their online banking credentials instead of bank account and routing numbers. Instant access to financial data confirms the existence of an account and verifies the account balance in seconds.

Julie Solomon, SVP, Financial Institution and Fintech Solution Sales at Envestnet | Yodlee says that with more consumers choosing digital onboarding for new deposit accounts, “the ability to manage account authentication and risk in real time is critical. The RESTful Envestnet | Yodlee Account Verification API offers a safe, secure and quick way to connect accounts and balances, provide low cost funding options, and mitigate fraud.”

Solomon believes the synergy between the two companies is ideal. “Our partnership with thirdstream is another example of how Envestnet | Yodlee supports fintech innovation in Canada by providing secure online account verification to speed verification while reducing risk. By integrating Envestnet | Yodlee API, thirdstream enables financial institutions to provide a seamless digital onboarding experience, ultimately empowering Canadian consumers and small businesses to access innovative tools that help to improve their financial health.”

Jeff Coomber, Director of Product Management and UX at thirdstream says “The Envestnet | Yodlee API not only adds an extra layer of verification by confirming that the applicant has a Canadian deposit account, it allows us to use that information to initiate an electronic funds transfer (EFT) in a very seamless and user-friendly manner. It also gives us the ability to preload Pre-authorized Payments for account switching as well as access to 12 months of account data to better understand an applicant’s financial needs.” Coomber says that “Our partnership with Envestnet | Yodlee, a market leading data aggregation platform, enables us to deliver a very powerful onboarding solution for our clients and Canadian banking consumers.”

About Envestnet | Yodlee Envestnet, Inc. (NYSE: ENV) is a leading provider of intelligent systems for wealth management and financial wellness. Envestnet’s unified technology enhances advisor productivity and strengthens the wealth management process. Envestnet empowers enterprises and advisors to more fully understand their clients and deliver better outcomes. Envestnet enables financial advisors to better manage client outcomes and strengthen their practices. Institutional-quality research and advanced portfolio solutions are provided through Envestnet | PMC, our Portfolio Management Consultants group. Envestnet | Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. Envestnet | Tamarac provides leading rebalancing, reporting, and practice management software for advisors. Envestnet | Retirement Solutions provides retirement advisors with an integrated platform that combines leading practice management technology, research and due diligence, data aggregation, compliance tools, fiduciary solutions and intelligent managed account solutions.

More than 59,000 advisors and 2,900 companies including: 16 of the 20 largest U.S. banks, 39 of the 50 largest wealth management and brokerage firms, over 500 of the largest Registered Investment Advisers, and hundreds of Internet services companies, leverage Envestnet technology and services. Envestnet solutions enhance knowledge of the client, accelerate client on-boarding, improve client digital experiences, and help drive better outcomes for enterprises, advisors, and their clients.

For more information on Envestnet, please visit and follow @ENVintel.

About cumulus by thirdstream As an omni-channel solution, cumulus has gained significant momentum among Canadian FIs seeking an end-to-end, lower cost solution that can be deployed quickly and support both immediate and long-term onboarding goals. Regarded by many as the most innovative origination platform in the industry, cumulus brings together in-branch and online account opening with the assurance of 100% compliance. Not only is it fully integrated with core banking, it also aligns front and back office operations, streamlines sales and administrative processes and delivers an outstanding, consistent experience across all of its branches and online channels.

About thirdstream thirdstream, headquartered in Lethbridge, Alberta, is Canada’s leading provider of in-branch and online consumer and business onboarding solutions. Serving clients in every regulatory jurisdiction from Quebec to British Columbia, thirdstream’s onboarding experience solutions serve 34 FIs across Canada, representing more than $325 billion in assets. thirdstream is continually evolving its product line, allowing clients to pay a modest monthly fee for an onboarding solution that offers continual and seamlessly delivered improvements. To learn more, visit

For additional details:

Platform information, Keith Ginter, thirdstream information, George Hofsink,  Media information, Jeff Coomber, Envestnet | Yodlee information: Jenna Cheng,


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