What is Yodlee?
Yodlee is a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services. This advanced technology makes it easy for clients to upload documents, knowing that their information is protected.
How does Yodlee work?
Yodlee collects data on Lulalend’s site through screen scraping: a technique which collects data and sorts them into categories. After entering the details into Lulalend’s site, it gets encrypted from that point, to ensure that your details cannot be viewed by third parties. Your credentials are securely stored on Yodlee’s system and cannot be accessed by Lulalend
I don’t trust Yodlee, can I send you my bank statements?
Yodlee is trusted and used by many major companies such as PayPal, Amazon and many global banks. We use it to get a read-only view of your bank transactional history. This allows us to process your application automatically, avoiding time-consuming validations that are required for uploaded bank statements. Yodlee is totally secure and your bank credentials are never viewed or stored by us. Alternatively, you can upload your latest 3 months’ formal bank statements (Please be advised that scanned copies do not help much as it does not allow us to extract the data automatically).