Yolt for Business API to support ING, Payvision & Funding Options

Yolt, the smart money platform has today announced it will continue its mission to change the financial landscape across Europe by supporting open banking capabilities for three new clients. The Yolt for Business API, which launched in February this year, offers businesses a single API that enables account information services (AIS) and payment initiation services (PIS), along with an ambitious list of future features – enabling businesses to achieve their goals quickly, easily and affordably.

The Yolt for Business API currently provides aggregation services to selected ING markets and will be supporting more ING Business Units with open banking capabilities, over the coming months; alongside today’s announcement to support leading fintechs Payvision, the Netherlands-based global acquirer and payment processing platform and Funding Options, the small business funding comparison platform.

Yolt has led the open banking landscape since its launch in 2017. Today’s announcement is testament to the brand’s continued investment to developing dynamic open banking solutions for consumers and business alike.

The news was unveiled at Amsterdam’s Money 20/20 event, where Yolt’s CEO, Frank Jan Risseeuw was a key speaker on the power of open banking whilst also sharing the news that Yolt’s app has now reached over 900,000 registered users across the UK, Italy and France.

Leon Muis, Chief Business Officer at Yolt, commented:

“Yolt has been firmly at the forefront of open banking since inception. It is incredibly exciting to share our hard work and learnings with others in the industry and together, with these clients, we can empower more people across the globe to move, manage and do more with their money.”

“At Yolt, we’re committed to working hard, enabling us to deliver more market-disrupting innovation and empowering both business and consumers to benefit from open banking technology. Personally, I’m looking forward to sparking conversation with innovators across Europe. ”

Benoît Legrand, Chief Innovation Officer ING, commented:

“Announcing ING and Yolt’s open banking collaboration is a great example of ING’s innovation strategy coming to fruition, launching new initiatives which rapidly grow into leading companies in their area of expertise. After scaling rapidly and building open banking technology with the Yolt App, Yolt’s technology stack is now available for third parties to empower even more people and business across Europe. Collaboration is at the heart of our innovation strategy and Yolt’s success is a testament to our efforts over the last two years.”

John Snoek, Chief Product Officer at Payvision, said:

“As we’re working towards supporting our clients with open banking solutions, it was a natural step to partner with Yolt for its forward-thinking technology and vision. Building on Yolt’s Account Information and Payment Initiation Services, Payvision can provide its clients and partners cost-effective solutions that lower risks while increasing conversion. This combined proposition highlights the added value of a bank-fintech partnership.”

Conrad Ford, Chief Executive Officer & Founder at Funding Options commented:

“At Funding Options, we’re very excited about the potential for Open Banking to solve the age-old challenge of access to finance for small businesses, so we’re delighted to be collaborating with Yolt, who have shown clear leadership in driving Open Banking adoption.”

Author: Yash Hirani

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