By Oliver Smith on Tuesday 16 February 2021
YTS is branching out from parent company ING.
Chief business officer Leon Muis called it a “significant milestone” as it means YTS can extend its regulated services to businesses without a PSD2 licence, especially important when working with smaller businesses and SMEs.
“From making the first-ever open banking API call for our client, the Yolt app, to surpassing one billion API calls in 2020, to now obtaining our own FCA licence, which will help us realise our ambition to bring the vast benefits of open banking to even more businesses,” he said.
YTS said one of its core focuses would now be rolling out open banking payments to more customers as a more cost-effective alternative for businesses to accept payments.