Yodlee's FinApp Store: The iGoogle of Personal Finance

Yodlee is extending its Platform with an SDK and a new marketplace called the FinApp Store. Recently out of beta, the service enables the creation of apps that exist within the Yodlee interface, to be distributed within its partner services.

The FinApp store allows developers to create widgets that work with the Yodlee API.  Somewhat similar to iGoogle and OpenSocial, these widgets are accessible within a dashboard on Yodlee.com.  But the possibilities get interesting with Yodlee's intended distribution channels. According to Yodlee, the platform "solves the distribution problem for developers" by utilizing Yodlee's position among major financial institutions.  For example, Yodlee intends to provide similar dashboards within partner banking sites, giving developers a wider range of potential customers.  Those financial institutions will benefit by allowing their users to "customize their banking experience."  Thus developers use Yodlee's SDK to create some interesting financial application, and also gain promotional opportunities to various business channels.

The idea is well summarized in their "why become a developer" video.

The functionality and resources for developers is impressive. Yodlee has released new REST API methods for applications in FinApp to utilize, providing developers with access to Yodlee's vast financial data for users' accounts, transactions, billing events, and more.

The SDK is built for Adobe Flex development, which may not scale well for iPhone and iPAD users, but works well for web widgets.   I wouldn't be surprised if Yodlee extends their SDKs to other technologies down the road to reach other channels such as mobile.

Upon public launch last month, Yodlee had over 200 developers building 30 apps in their program. You can join in today by visiting Yodlee's developer site.

Be sure to read the next Financial article: Facebook Credits Comes Out of Beta, Unveils a Very Real API for Somewhat Less Real Money