Finance & Economics

ING to shut down Yolt’s smart money app

Going forward Yolt will focus resources on getting its proprietary open banking solutions into the hands of businesses more quickly

ING

ING to shut down Yolt’s smart money app. Source: pexels.com

ING has announced the repositioning of Yolt to focus on the growth of its open banking technology platform, Yolt Technology Services.

Yolt intends to close its consumer-facing smart money app. Customers don’t need to take action. Yolt will notify them proactively once a final decision has been made.

ING and its businesses continuously evaluate activities, including assessing whether they are likely to achieve the preferred scale in their market within a reasonable time frame. In this context, the evaluation has led to the intended decision to close the Yolt app, which is subject to advice from the works council.

Our mission has always been to accelerate the adoption of open banking. We want to give financial control to as many people and businesses as possible, empowering them to make more informed choices that help them achieve better financial health, create opportunities and make it possible to fulfil their potential. Focussing on Yolt Technology Services is a faster and more effective way of driving change. I would like to reassure Yolt customers that any money held in their accounts or personal data is safe and we will be in contact when the decision is final
Nicolas Weng Kan, CEO of Yolt

We’ve reported that Brits more confident about household finances but admit they need to save more.

SEE ALSO:

Pay Space

6724 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.