Cross-border deposits to be integrated for Yolt users
In a new alliance of customer-centric financial tech startups, Yolt, the smart thinking money app – which today announced 900,000 registered users – will be partnering with pan-European savings marketplace Raisin. This will provide European Yolt users in-app access to Raisin’s savings products. Beginning in the UK, followed by Italy and France, Yolt will provide its users access to a wide range of saving deposit rates from Raisin’s partner banks, directly through the Yolt app. Both companies want to improve the way consumers interact with their finances, with the aim of boosting financial literacy and enabling users to make better choices with their savings.
Yolt users in UK, Italy and France will be able to compare and choose from a range of savings accounts offered by Raisin. This will allow customers to seamlessly invest their savings, selecting from deposit products, all with competitive interest rates, in one place. Additionally, Yolt users will be able to view their Raisin savings accounts directly in the app next to their credit and debit accounts and transactions that Yolt enables them to track.
Yolt’s CEO Frank Jan Risseeuw commented: “Our partnership with Raisin will enable our users to have access to finding the best savings options for them. Adding to our savings proposition, users will now be able to have a clear and comprehensive view of their savings as well as their spending habits, all in one place. It’s partnerships like these that really raise the bar in the money management space, and what better way to put your hard-earned savings to work!”
This partnership is a result of both companies’ commitment to, and extensive experience with, Open Banking collaboration. Raisin partners include N26, Commerzbank, Vanguard and ClearScore among others, plus the more than 75 partner banks offering deposits across Raisin’s seven platforms, while Yolt collaborates with simplesurance, MoneySuperMarket, Anorak, Wealthify, Pensionbee and many others. The announcement additionally accompanies milestones from both companies: Yolt celebrates its second birthday having exceeded 900,000 registered users, and Raisin has now brokered over 13 billion EUR since launching in 2013.
“With our shared dedication to open banking, this cooperation will give Yolt users access to better savings along with transparency over their deposits — connecting both our companies’ core values,” stated Raisin co-founder and CEO Dr. Tamaz Georgadze. “As a pan-European platform dedicated to breaking down barriers, we’re excited to work together across Europe to provide savers a better financial experience and unlocking what we believe has great potential.”