Yolt, the smart money platform, opens up its single and secure open banking API
Yolt for Business is now opening Yolt’s proven technology stack to businesses across Europe to enable all open banking capabilities, including payments
Yolt has today announced the launch of Yolt for Business, as it furthers its ambition to empower people to unthink money. Yolt for Business will offer a single API that covers account aggregation services (AIS) and payment initiation services (PIS) along with an ambitious future roadmap, which will continue to develop dynamic solutions for a fast-changing market – enabling businesses to achieve their goals quickly, easily and affordably.
“Yolt has always been at the forefront of Open Banking and we’re excited to share our work with others in the industry. We will make, manage and maintain all of the connections, saving businesses time and money and allowing them to focus on what matters most.” said Leon Muis, Chief Business Officer at Yolt. “Yolt has the experience to deliver this service, due to its track record within Open Banking and the success it has achieved in the UK, France and Italy.”
Yolt has helped shape and drive the Open Banking landscape since its launch in 2017:
• Open Banking and PSD2 legislation have been developed to give ownership of financial data back to the user for the first time
• Yolt has demonstrated rapid traction and expansion into the Open Banking space being the first third party provider (TPP) to achieve Open Banking API connections with all CMA9 banks in the UK.
• Yolt fires off over 4 million Open Banking API calls per week, more than any other provider in Europe.
• The Open Banking technology that Yolt utilises, enables its users to view their accounts together in one place, ensuring they have real time access and control over their finances.
• Following its launch into Italy and France in 2018, Yolt has been busy preparing and expanding its pan-European connections; actively connecting to available APIs, in line with the European Union’s PSD2 legislation.
Leon Muis, Yolt chief business officer continues:
“After building and tailoring Yolt for Business over the last year, we’re really proud to offer it out to the European market and, by doing so, bringing “Unthink Money” to an even wider audience. Personally, I’m looking forward to sparking conversation with innovators across Europe.”
Imran Gulamhuseinwala OBE, Trustee of Open Banking Implementation Entity (OBIE) comments:
“Using Open Banking technologies, Yolt has helped drive Open Banking right from the get go in 2018 and today is clocking up c. 4 million API calls a week – empowering users to choose and control where and how their data is shared. It’s great to see that soon businesses will also benefit from Yolt’s innovative product as well as consumers; helping even more people move, manage and make more of their money.”