Yolt is here

Yolt is here

With an intended jolt and volt of energy, Yolt, a new money platform backed by ING, has launched its open beta for iOS and Android in the UK.

The app has been tested in closed beta since October last year, and is now ready to invite more people to the platform.

Yolt enables users to view their bank accounts and credit cards in one place, see what shops they’re spending the most (and the most often) with, set budgets and plan for upcoming debits.

Frank Jan Risseeuw, CEO, Yolt, says: “In modern life, the phrase ‘time is money’ has never felt more apt. But fewer people have either the time or the desire to actually look after their money effectively. Instant gratification is the norm – people want convenience, speed, and customisation. Yolt understands that.”

The firm will partner with other fintechs to add new features to the app, starting today (1 June) with an energy price comparison offering from London-based start-up Runpath.

On its website, Yolt says its second partnership is with Moneytis. It met this firm while sharing an office space at the ING innovation centre in Amsterdam.

Moneytis aims to become the “Booking.com of international money transfers”. Moneytis’ money transfer service is unavailable in Yolt but they plan to release it an unspecified date later.

Yolt is also open to other partnerships with fintech start-ups.

Last year, ING pulled a plug on its peer-to-peer (P2P) mobile payments app, Twyp, in the Netherlands. This was due to the lack of customer uptake, the bank said.