Fronted and Yobota become open banking’s newest dream team following latest partnership

By Aisling Finn on Thursday 25 February 2021

Alternative Lending

Fronted is now the second company to be powered by Yobota’s core banking platform. 

Fronted and Yobota become open banking’s newest dream team following latest partnership
Image source: Simon Vans-Colina/Anthony Mann/Jamie Campbell/Fronted.

 

Just days after it’s relaunch, Fronted has joined forces with fellow fintech Yobota to power its platform.

Fronted aims to help renters afford deposits when signing new tenancy agreements by offering a fixed term 12.5 per cent loan to cover the deposit, with users able to spread the cost over 12 months.

Jamie Campbell, co-founder and CEO of Fronted, said: “Fronted was created to help renters move more easily and reduce their upfront costs.”

“The flexibility offered by Yobota’s architecture enabled us to create an innovative and tech-driven solution to a long-standing problem in the UK rental market. By utilising Yobota’s APIs, we were able to build a customised user experience that reduces the time and complexity involved in applying for a rent deposit.”

Through using Yobota’s APIs, Fronted will be able to continually improve its product and react to the market, while also offering its customers a more seamless user experience. 

Ammar Akhtar, CEO of Yobota, added: “It is great to see Fronted launch to market – they are addressing a major societal issue, by helping renters get easier access to homes, with the potential of building their credit scores at the same time.”

“The launch of Fronted is an important step for Yobota, too. We've demonstrated that our APIs can be used to build a wide variety of customer experiences while putting our clients in the driving seat.”

Fronted is now the second company to be powered by Yobota’s core banking platform, after Chetwood Financial, a UK-based challenger bank.

The rental deposit fintech relaunched last week after it spent most of last year in hibernation with its employees furloughed because of the property market coming to a grinding halt in light of the Covid-19 lockdown.

Despite its activities being paused, co-founders ex-Bud employee Jamie Campbell, ex-Monzo employee Simon Vans-Colina, and ex-Apple staffer Anthony Mann raised seed funding in August from Passion Capital, Truesight and the government’s Future Fund.

Just two months later, Fronted had brought all staff back from furlough and gained full authorisation from the FCA, allowing it to restart its operations. 

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