Former Google Compare and Confused.com CEO Nicolas Weng Kan nabs top job at Yolt

By Aisling Finn on Friday 10 July 2020

Digital Banking

In his new role, Nicolas Weng Kan will be CEO of both consumer-facing app Yolt and its open banking arm, Yolt Technology Services.

Former Google Compare and Confused.com CEO Nicolas Weng Kan nabs top job at Yolt
Image source: Nicolas Weng Kan/Yolt

Nicolas Weng Kan, who previously held the CEO position at both Confused.com and Google Compare, has been appointed as CEO of Yolt. 

In his new role, which was confirmed by parent company ING Ventures, Weng Kan will oversee both financial management app Yolt and the fintech’s open banking arm Yolt Technology Services (YTS)

Yolt currently has 1.5m registered users and YTS makes roughly 22m open banking API calls every week. 

Weng Kan has nearly three decades of experience, having worked in senior positions in the UK, Taiwan, Japan and China. 

As well as holding several top positions at large corporations, Weng Kan’s most recent venture was more of a passion project, founding his own startup ONEZERO-ME, a digital credit and risk scoring fintech. 

Nicolas Weng Kan, the newly-appointed CEO of Yolt, said: “The world as we know it is changing and it’s the companies who can deliver innovation excellence, who will thrive for the good of their customers.” 

“Now, perhaps more than ever, is when open banking adoption is likely to have a transformative impact, whether that’s delivered through innovative money apps like Yolt or as a service to companies looking to bring new solutions to market quickly and efficiently.” 

Founded in 2017, Yolt and its open banking arm YTS, which became a separate entity in September 2019, are supported by Dutch bank, ING. 

Benoit Legrand, chief innovation officer at ING, said: “ING was recently voted as the most innovative bank in Western Europe and this is because we continue to deliver on our strategy to grow concepts into scale-ups like Yolt - who are already making great waves in disrupting the traditional banking model, with over 1.5m registered users in just three short years.” 

“Nicolas’s extensive experience, passion and dedication for digital product innovation make him an excellent CEO for Yolt and I’m confident his appointment will only accelerate and strengthen the success of both businesses.” 

At the end of May, YTS expanded its open banking API coverage across Europe, now reaching over 80 per cent coverage of bank accounts in Italy, France and Spain, 90 per cent coverage in The Netherlands and 95 per cent in the UK. 

Earlier this year, Yolt announced its API connection with American express and also digital wealth manager, Nutmeg over here in the UK. 

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