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MEMBERS Development Company chooses Yodlee for aggregation

TORONTO - MEMBERS Development Company, LLC has signed a letter of intent with aggregation powerhouse Yodlee to offer a CU aggregation solution. The move is a departure from MDC's original aggregation deal with Access Softek. After beta testing the solution at a couple of CUs, MDC decided the Access Softek...

By Staff Writer | Updated on July 03, 2001

TORONTO – MEMBERS Development Company, LLC has signed a letter of intent with aggregation powerhouse Yodlee to offer a CU aggregation solution. The move is a departure from MDC’s original aggregation deal with Access Softek. After beta testing the solution at a couple of CUs, MDC decided the Access Softek solution was not the way it wanted to go. MEMBERS Development is a research and development consortium owned by 44 CUSOs/CUs and CUNA Mutual Group. MDC had an owners meeting recently where it outlined the plans with Yodlee. John Henry, president/CEO of MDC, said he expects the product to be rolled out this fall. Henry said although the deal with Access Softek didn’t work out, it provided MDC with a tremendous learning experience about aggregation. Henry said CUNA Mutual is currently looking into risk management for aggregation solutions. Right now, said Henry, there are few processes in place to deal with security breaches or other problems related to aggregation. [email protected]

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