Yolt Technology Services (YTS) is partnering with Amazon Web Services (AWS) to deliver higher security across its open banking services.
In Brief:
AWS will enable YTS to quickly scale.
YTS delivers an open banking API which enables payment initiations.
AWS allows it to encrypt all sensitive data to offer a more secure experience, reassuring customers.
What does this mean?
This comes as Yolt reveals over 50% of businesses in the retail, banking, lending and investment space are not utilising open banking due to security and privacy concerns. It’s hoped that partnering with a trusted name like AWS will reiterate how secure the service is and encourage more companies to take advantage of the payments API.
