The money management platform has soared after less than six months in Beta.
The banking app, owned by Dutch bank ING, is making the most of the incoming PSD2 regulations, as phase 2 of Open Banking looms ahead. Yolt has suggested that its rapid succession to 100k users signifies that customers are also welcoming of the impending changes, embracing the app’s capabilities to the fullest.
Yolt allows users to create their own financial control centre by viewing their various banking accounts all in one place, with the option to set budgets, tag purchases and compare currency transfer rates.
The success can be explained in part by Yolt’s recent partnership with digital banking behemoth Starling Bank, utilising the bank’s Open API Marketplace to connect Starling current accounts to the money app.
Commenting on the achievement, Yolt CEO Frank Jan Risseeuw said: “News of our registered app users reaching 100,000 is a fantastic milestone for Yolt and ING and we are really pleased we have reached this number ahead of time.
“We’ve made it this far with the feedback and suggestions of our brilliant community - with the arrival of open banking in 2018, we’re looking forward to giving our users even more choice and control over their finances.”
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.