Banking app Yolt partners with its first robo-advisor

Smart money app Yolt continues to pile up the partnerships. The firm has today announced its latest integration, this time with robo-advisor Wealthify.

Wealthify is the first investment partner to have joined the Yolt marketplace. The robo-advisor is authorised to offer investment advice online with a minimum investment amount of just £1.

Yolt, which is backed by Dutch bank ING, is not a bank in itself. Instead, it aggregates data from its users’ existing bank accounts and credit cards, giving them a comprehensive overview of their finances.

With the Wealthify integration, Yolt’s 500,000 registered users will be able to view their investment portfolios in the app alongside other financial accounts. Indeed, the firm claims to have become the first money app in the UK to show live investments alongside bank accounts, credit cards, savings and pensions.

The pensions functionality is possible due to another of Yolt’s recent partnerships. The banking challenger teamed up with PensionBee in September to show users their live pension balance in-app. A few weeks later, it partnered with life insurance adviser Anorak to offer users personalised life insurance tips.

Commenting on Yolt’s strategic vision, Wealthify co-Founder and CIO Michelle Pearce-Burke said: “App-based, Open Banking architecture is one of the most significant and exciting developments in retail banking in the past 10 years and promises to bring transformational changes to the way people manage their finances day to day over the next decade.”