14 September 2021

Yolt shifts focus to B2B business

Written By FinTech Alliance

Yolt shifts focus to B2B business

Yolt is shifting focus away from its consumer facing app and will instead focus on Yolt Technology Services. 

In Brief:

Yolt, the money management app, is expected to be wound down.

YTS is the company’s open banking business which aims to help businesses adopt open banking solutions. 

The move was announced by ING, which launched Yolt in 2017. 

What does this mean? 

Open banking adoption is increasing, so platforms to support this, especially for smaller businesses, will be welcome. YTS has recently gained a PDS2 licence from the FCA meaning its own open banking operations are regulated. 

Further, a press release from ING alluded that the Yolt app has failed to gain as much traction as some of its PFM (personal finance management) competitors, saying decisions are made on whether a product is “likely to achieve the preferred scale in their market within a reasonable time frame”. 

Read more here. 

Up Next ...
16 September 2021

Spotlight on… Randa Bennett, vHelp

FinTech remains a male dominated industry, and for women it ...

16 September 2021

Monzo launches buy now, pay later product Flex 

Monzo has announced the launch of Monzo Flex, its buy ...

16 September 2021

Yorkshire’s Fintel sells part of business for £5.8mn

Yorkshire FinTech Fintel has sold its fund management business. In Brief:Fintel ...

16 September 2021

Goldman Sachs to acquire buy now, pay later FinTech for $2.2bn 

US bank Goldman Sachs has announced it will acquire BNPL ...

More in Open Banking

Mastercard acquires Aiia

08 September 2021

The deal expands the financial services giant's open banking reach ...

Canada set for open banking roadmap by 2023 

09 August 2021

Canada is aiming to implement an open banking regime in ...

Tink to be acquired by Visa in $2.2bn deal

24 June 2021

European open banking platform Tink is set to be acquired ...

Payments infrastructure business Volt raises £17mn 

18 June 2021

Volt, a UK FinTech that builds infrastructure for global payments, ...

White Papers Open Banking

Salt Edge report: State of open banking payments in Europe in 2021

14 September 2021

Salt Edge – a financial API platform with PSD2 and open banking solutions. The company has two main...

Articles Open Banking

Merchants see open banking as path to personalizing consumer experiences

20 July 2021

Financial institutions, FinTechs and merchants alike are all seeking out technologies that could hel...

Articles Open Banking

Open banking ecosystem in testing mode

30 June 2021

Advancing on its path to provide a pan-European open banking platform, Salt Edge gained insightful e...

Articles Open Banking

Open Banking for affordability: The 4 key components of a successful implementation

30 June 2021

On the surface, the case for these projects is simple. If you already handle bank statements to chec...

There are no Events in this category