MaRS partners with Tangerine and Envestnet | Yodlee to power fintech innovation
MaRS Discovery District is partnering with Tangerine, the Canadian direct bank and Envestnet® | Yodlee®, a leading technology and applications platform. Under the agreement, Tangerine is joining MaRS’ Financial Technology (“FinTech”) cluster to connect with leading startups developing financial services technology with a focus on big data, loyalty and mobile payments. Through Ynext, selected MaRS FinTech startups will receive resources and tools to take their innovations to market, including access to The Envestnet | Yodlee financial data platform.
- According to CB Insights, Canadian fintech ventures received CAD $483.9M in funding in 2014, an increase of 124% compared to the 2013.
- MaRS FinTech works with more than 150 startups. Many of these entrepreneurs indicate a strong desire to access new tools and resources that will help them to enhance their products and services – The Envestnet | Yodlee Platform and Tangerine will help to meet this need.
- Learn more about Tangerine
- Learn more about Ynext
- Learn more about MaRS financial technology cluster
“Tangerine is thrilled to be partnering with MaRS and its network of high impact fintech startups,” said Charaka Kithulegoda, Chief Information Officer, Tangerine. “Through our strategic partnership we are helping entrepreneurs to develop their businesses while offering our customers the latest innovation through MaRS.”
“Ynext is committed to constant innovation in the financial services industry. Allowing third party developers to leverage the unique Envestnet | Yodlee platform and distribution capabilities will bring cutting edge new products and services to market faster,” said Joseph Polverari, Chief Strategy & Development Officer at Envestnet | Yodlee and GM/Founder of Ynext. “Our relationship with MaRS FinTech will enable a new generation of entrepreneurs and developers to create products that will help people manage and relate to their money.”
“I am delighted to announce our strategic partnership with Tangerine and Envestnet | Yodlee as we continue to grow MaRS’ FinTech cluster,” said Adam Nanjee, Head of MaRS FinTech. “As part of MaRS FinTech, Tangerine and Envestnet | Yodlee will join MaRS’ growing community of financial technology companies and entrepreneurs to help drive innovation in Canada for the next generation of consumers in the financial services sector.”
About MaRS Discovery District
MaRS Discovery District (@MaRSDD) in Toronto is one of the world’s largest urban innovation hubs. MaRS supports promising young ventures that are tackling key societal challenges in the health, cleantech and information and communications technology sectors. In the last three years, these ventures have raised $1.3 billion in capital and earned $640 million in revenue. In addition to helping startups launch, grow and scale, the MaRS community is dedicated to cross-disciplinary collaboration, commercialization of discoveries and driving ideas to impact.
Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada’s leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning client service. From no-fee daily chequing and high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our website and Mobile Banking app to our Café locations, Pop-Up locations and 24/7 Contact Centres. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary. For more information, visit tangerine.ca Follow us on Twitter @TangerineBank.
Envestnet, Inc. (NYSE: ENV) is a leading provider of unified wealth management technology and services to investment advisors. Our open-architecture platforms unify and fortify the wealth management process, delivering unparalleled flexibility, accuracy, performance, and value. Envestnet solutions enable the transformation of wealth management into a transparent, independent, objective, and fully-aligned standard of care, and empower advisors to deliver better outcomes.
Ynext is the unit of Envestnet | Yodlee that incubates, delivers and commercializes new business opportunities for the company. Through the Ynext Incubator, the company serves as a launchpad to incubate and accelerate startups on the platform, providing the tools necessary to take their ideas to market and be more successful faster. Ynext also pioneers next-generation data programs that commercialize Envestnet | Yodlee’s comprehensive spending and behavioral insights, allowing companies to make data-driven decisions and build stronger, more profitable customer relationships.
Envestnet | Yodlee is headquartered in Redwood City, CA with global offices in London and Bangalore. For more information, visit www.yodlee.com.