ING-owned app unveils new spending analytics tools.
As phase 2 of the Open Banking regime looms, Yolt is an app that claims to be speeding on its advance. The banking app, which is owned by Dutch financial services giant ING, offers users oversight of all their finances in one place. It first hit the app stores in June.
This morning, the app has unveiled a series of updates, mostly designed to improve its spending insights. Users may now see their payments funnelled into any of nine new categories, including coffee, lunch, education, charity and so on. They can also tag their transactions, adding a bespoke feel to the way those transactions are filtered. Spending notes is another new feature, allowing users to add notes to individual transactions.
Yolt says that its customers will now be able to manage their money and budget more effectively. The round of changes also includes fingerprint logins for Android users, and the official unveiling of a partnership with money transfer comparison site Moneytis (AltFi first reported this in July). The partnership allows Yolt users to seamlessly compare methods – often fintech methods – for transferring money overseas.
“Enabling people to save time and enjoy life more is at the heart of what Yolt is all about – and these updates do just that, challenging the status quo of money management and taking away the pain of managing finances,” said Frank Jan Risseuw, CEO of Yolt. “Yolt is already working on our next wave of propositions and enhancements, and we can’t wait to offer these to our users.”
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.