Envestnet | Yodlee Launches COVID-19 Income and Spending Trends

By AIT News Desk On Apr 18, 2020

Envestnet | Yodlee Now Provides Twice-Weekly Pulse on American Income and Spending Trends Across Industry Sectors and Geographies

Envestnet | Yodlee, a leading data aggregation and analytics platform powering dynamic, cloud-based innovation for digital financial services, announced the launch of its COVID-19 Income and Spending Trends, which will provide a twice-weekly pulse on how the COVID-19 pandemic is financially impacting Americans.

Envestnet | Yodlee COVID-19 Income and Spending Trends will shed light on key spending, savings, and income trends for Americans during this crisis, including spending by industry sector – what sectors are benefiting and where Americans are pulling back – and how this is changing week-over-week. The pulse reports will also reflect income trends across the US and by region and will demonstrate how Americans are being impacted. The COVID-19 Income and Spending Trends utilize aggregated and de-identified data to provide this snapshot of trended patterns. Insights and analytics can be a very powerful tool for businesses, individuals, and the government to make informed decisions toward helping us all navigate through this crisis.

Insights are updated twice-a-week at Yodlee.com/covid-19-trends on Mondays and Wednesdays, and include the following:

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Spending
- Spending by industry sector (consumer staples, discretionary, communication, entertainment, travel, and consumer services)
- Spending, nationally and regionally including year-over-year comparisons
- Transportation patterns, including year-over-year comparisons
Income
- Income/employment by industry sector (consumer discretionary, consumer staples, industrials, communication services, information technology)
- Income/employment by industry sector and region
- Transportation and consumer services employment by income range

“The COVID-19 pandemic is impacting us in unprecedented ways with individuals, businesses, and the government facing financial, economic, and health concerns that are changing on an hourly basis,” said Stuart DePina, President of Envestnet. “As the leader in financial data aggregation, Envestnet | Yodlee is identifying critical spending, savings, and income trends that can enable informed decision-making during this crucial time. We are proud to leverage our resources and the expertise of our data scientists to provide these useful insights as we navigate through this unstable economic environment.”

“We are pleased to make these important income and spending trends available,” said Bill Parsons, Group President, Data & Analytics at Envestnet | Yodlee. “Envestnet | Yodlee believes that in-depth analysis of these trends can be useful to inform individuals, businesses, and government agencies in their decision making as they seek to return to financial stability during this public health and economic crisis.”