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Comments (0) AI / Machine Learning / Big Data, Fintech news, Hotnews, Mobile-first banks

Yolt pairs up with Monzo

Yolt, the smart thinking money app owned by ING, has integrated with the UK’s biggest challenger bank, Monzo.

Yolt users can now view their Monzo current account details and transactions alongside their other accounts and cards, all in one place.

Yolt continues to expand its integrations, following the official launch of Open Banking on 13th January 2018. This latest integration allows Monzo customers to track their spending across all their accounts in one, smart app. Users will be able to easily compare financial products and have more insight and control over their money.

Monzo launched in February 2015 and received its full banking licence in April 2017. To date, the popular digital bank has more than 500,000 customers, who have already spent over £1 billion with their Monzo cards.

With today’s announcement, Monzo becomes the 30th bank, and second mobile only bank, to connect with Yolt. This follows an integration with Starling Bank at the end of last year and partnerships with energy comparison platform, Runpath, and international money exchange FinTech, Moneytis.

Frank Jan Risseeuw, CEO, Yolt, said: “Both Yolt and Monzo communities have been very vocal in asking for this integration and with over 1500 requests, we are extremely excited to be able to announce the launch. This integration is a great example of how using the principles of Open Banking can give consumers more choice and freedom with their money. Through this integration with Monzo, we will help more people to unthink money, enabling them to enjoy life more.

“With the excitement of Open Banking in early January and now this digital banking integration, 2018 is shaping up to be a great year.”

Tom Blomfield, CEO, Monzo, said: “Making an API available opens up a wealth of new opportunities, for challenger banks, fintechs and – most importantly – customers.

By allowing people to share their account information with other apps, safely and securely, APIs make integrations like this possible. For the customer, that means more choice, convenience and control over their money.”

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