Envestnet | Yodlee Adds 'Hyper-Personalization' for Advisors

The "combination of actionable insights, unique peer benchmarking capabilities and personalized views allow digital financial experiences to provide timely and impactful virtual financial assistance," the company said.

Brandon Rembe, senior vice president of product at Envestnet | Yodlee, called hyper-personalization the "new baseline for success," saying financial institutions and fintech firms that have a "more advanced understanding of consumers and tailor their offerings accordingly will have a strategic and competitive advantage."

Providing a "more granular understanding of consumers is no longer a 'nice-to-have' item, but a business imperative" for advisors and other financial institutions and fintech firms, according to the company.

The firm pointed to a McKinsey & Co. study from last year that estimated the value of hyper-personalization within the financial services industry at between $200 billion and $450 billion.

Insights Solutions offer users a range of financial wellness insights that will help consumers benefit from actionable guidance such as predictive cash flow capabilities, including projected warnings and forecasts; alerts based on spending, categories, credit limits and refund monitoring; and spending insights that cover subscriptions and frequently used merchants, the firm said.

— Check out Envestnet's New RIA Planning Tool Is a 'Good Start': Bruckenstein on ThinkAdvisor.