2018 is proving to be a fruitful year for Monzo, after surpassing 500,000 accounts last week.
Digital bank Monzo has today announced an integration with the personal finance app Yolt, which is owned by Dutch bank ING. Yolt users will now be able to add their Monzo current account details and view their transactions alongside other accounts and cards, all within the Yolt app.
Integrations of this kind have been on the up since the launch of Open Banking in January, with Monzo recently announcing partnerships with money app Emma, microinvestments app Moneybox, as well as launching its own interim third-party API to help speed up the integrations process.
Monzo also recently debuted its own third-party Marketplace Beta, offering some of its 500,000 users a trialled access to a range of savings accounts, energy switching services and investment options from other providers. Its partners include well-known peer-to-peer lenders RateSetter and Zopa, wealth management firms Wealthsimple and Scalable Capital, and challenger banks OakNorth and Shawbrook Bank.
Yolt itself holds partnerships with fellow digital bank Starling, as well as 29 other banks across the UK.
Frank Jan Risseeuw, CEO, Yolt, commented: “Both Yolt and Monzo communities have been very vocal in asking for this integration and with over 1500 requests, we are extremely excited to be able to announce the launch. This integration is a great example of how using the principles of Open Banking can give consumers more choice and freedom with their money. Through this integration with Monzo, we will help more people to unthink money, enabling them to enjoy life more.
“With the excitement of Open Banking in early January and now this digital banking integration, 2018 is shaping up to be a great year."
Yolt COO Leon Muis and Monzo product manager Valerio Magliulo will be appearing on stage at the AltFi London Summit on March 26th, alongside other digital banking stalwarts like Starling Bank CEO Anne Boden and Tandem CEO Ricky Knox. You can register for tickets to the Summit here.
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