Wealth Management Internet Company Seeks India's Millionaires

Stephen Harris

17 August 2005

US-based Internet company Yodlee Infotech is planning to invest over $30 million in its Bangalore centre in the next five years. The company, which started product development in India in 2000, also intends to sign up Indian customers this year, according to Peter Hazelhurst, senior VP, engineering, at Yodlee. The company expects to increase employee numbers in Bangalore from 150 to 300 in the next two years. Yodlee has developed products related to personal finance, wealth management, risk management and market research, which help retail consumers manage their finances, pay bills and check their accounts online. It counts major US financial firms such as Charles Schwab, Bank of America, Fidelity, American Express and AOL amongst its customers.