Cross-border deposits to be integrated for Yolt users
In a new alliance of customer-centric financial tech startups, Yolt, the smart thinking money app – which today announced 900,000 registered users – will be partnering with pan-European savings marketplace Raisin. This will provide European Yolt users in-app access to Raisin’s savings products. Beginning in the UK, followed by Italy and France, Yolt will provide its users access to a wide range of saving deposit rates from Raisin’s partner banks, directly through the Yolt app. Both companies want to improve the way consumers interact with their finances, with an aim of boosting financial literacy and enabling users to make better choices with their savings.
Yolt users in UK, Italy and France will be able to compare and choose from a range of savings accounts offered by Raisin. This will allow customers to seamlessly invest their savings, selecting from deposit products, all with competitive interest rates, in one place. Additionally, Yolt users will be able to view their Raisin savings accounts directly in the app next to their credit and debit accounts and transactions that Yolt enables them to track.
Yolt’s CEO Frank Jan Risseeuw commented: “Our partnership with Raisin will enable our users to have access to finding the best savings options for them. Adding to our savings proposition, users will now be able to have a clear and comprehensive view of their savings as well as their spending habits, all in one place. It’s partnerships like these that really raise the bar in the money management space, and what better way to put your hard-earned savings to work!”
This partnership is a result of both companies’ commitment to, and extensive experience with, Open Banking collaboration. Raisin partners include N26, Commerzbank, Vanguard and ClearScore among others, plus the more than 75 partner banks offering deposits across Raisin’s seven platforms, while Yolt collaborates with simplesurance, MoneySuperMarket, Anorak, Wealthify, Pensionbee and many others. The announcement additionally accompanies milestones from both companies: Yolt celebrates its second birthday having exceeded 900,000 registered users, and Raisin has now brokered over 13 billion EUR since launching in 2013.
“With our shared dedication to open banking, this cooperation will give Yolt users access to better savings along with transparency over their deposits — connecting both our companies’ core values,” stated Raisin co-founder and CEO Dr. Tamaz Georgadze. “As a pan-European platform dedicated to breaking down barriers, we’re excited to work together across Europe to provide savers a better financial experience and unlocking what we believe has great potential.”
A trailblazer for open banking and the leading pan-European one-stop shop for online savings and investments, Berlin-based fintech Raisin was founded in 2012 by Dr. Tamaz Georgadze (CEO), Dr. Frank Freund (CFO) and Michael Stephan (COO). Raisin’s platforms — under the brand WeltSparen in the German-speaking world — are breaking down barriers to better savings for European consumers and SMEs: Raisin’s marketplace offers simple access at no charge to attractive and guaranteed deposit products from all over Europe, as well as globally diversified, cost-effective ETF portfolios (now available in Germany). With one online registration, customers can choose from all available investments and subsequently manage their accounts. Since launch in 2013, Raisin has brokered 13 billion EUR for more than 180,000 customers in 31 European countries and over 75 partner banks. Raisin was named to Europe’s top five fintechs by the renowned FinTech50 awards and is backed by prestigious European and American investors such as PayPal, Thrive Capital, Orange Digital Ventures, Index Ventures and Ribbit Capital.
Launched in 2017, Yolt gives everyone the power to be smart with their money. At the forefront of PSD2 and Open Banking, the smart thinking money app enables users to view their accounts, credit cards, pensions and investments in one place. In the past 18 months Yolt has grown exponentially, with over 900,000 registered users across the UK, Italy and France and maintains a 4+* rating in the app stores.
Yolt Connect, a next generation in-app marketplace, enables users to discover better deals based on their needs. The latest integration with MoneySuperMarket is the first of if its kind, where users can compare and switch energy providers without leaving the Yolt app.
Yolt’s latest offering; the Yolt for Business API unlocks its Open Banking expertise to other organisations through a single and secure API. Managed and maintained by Yolt, this API connects businesses or customers to the main banks across Europe.
As a venture of ING Bank N.V. Yolt has the strength and stability of a corporate, yet thinks and acts in an agile way. To read more about the Yolt journey visit: https://www.yolt.com/
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 51,000 employees offer retail and wholesale banking services to customers in over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING’s corporate strategy, which is evidenced by ING Group shares being included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World) where ING is among the leaders in the Banks industry group.
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