Leon Muis

Yolt

COO

Leon is COO of Yolt: a smart money platform built to harness the power of open banking. Yolt, which is owned by ING, was born in 2016 and is currently available in open Beta in the UK. Having worked as consultant for Retail Banks worldwide, Leon joined ING in 2011 before moving to Yolt in April 2017. Leon is currently responsible for all bank data connections that Yolt makes, and is Yolt’s representative for Open Banking and PSD2. As a driven Fintech and Retail banking professional, he is committed to bringing a frictionless banking experience to Yolt users. Leon has vast international experience both professionally and personally, and currently resides in Amsterdam with his wife and 3 young children. When he’s not sharing his Open Banking expertise, Leon enjoys sports, and is himself an active runner.

Event Sessions Featuring Leon Muis


Roundtable (Breakout)

Making the Marketplace ‐ Round Table Discussion

London Summit 2018 - 26th March 2018

  • All in attendance were in agreement: marketplaces are something we can expect to see coming out of every digital bank, sooner or later. But will the model become a money maker? Clark doesn't think so, suggesting that Tandem prefers to see its marketplace as simply a "benefit to the customer" over a tool for profitability. Myatt also pointed out that we have yet to determine an exact and widespread definition of what we mean by 'marketplace': does it refer to only third-party products being sold by a bank, or will banks eventually sell their own services and products within their apps too? 
  • In essence, the marketplace model should be about "putting the customer's data back in their hands" and allowing them to get the most out of it, said Barbosa. Indeed, both Chisell and Magliulo added that a marketplace should be about "giving way" to those who are specialised, in order to create the most value for their customers. Campbell mentioned that Bud has found higher traction from users sits on non-core products and services: things like energy-switching, travel perks and insurance. 
  • However Plumb warned that at times the marketplace has become a "sexy term" for a bank's partnership strategy, when what they're really offering is not a true marketplace at all. Often we speak about marketplaces as if they are just one generic product, but as in the case of robo advisors, not all marketplaces will be a good fit. Bibas suggested that each bank should develop a specific strategy for different partners, allowing them to create true customer value.
  • For the future, Moreni highlighted the need for banks to be focusing on what value in a marketplace really means to their customers. Whether you give a customer 10 or 3 choices for a service, "it doesn't matter unless you know what it is your customer needs from you," said Dallas. Muis agreed, sayng that if you want people to give up their data, banks will have to show them the value they're going to gain as a result. While a partnership strategy is a no-brainer for most, it'll be the new categories that come out of the marketplace model that will be the most exciting to watch.



Articles Featuring Leon Muis

70% of UK consumers use money apps in 2018

9th May 2018 | Emily Nicolle

Monzo integrates with ING-backed app Yolt

23rd March 2018 | Emily Nicolle