Mobile applications for financial payments become more popular in the United Kingdom. The rest of Europe sees far as optimism regarding such apps these days. Yolt is one of the newer money apps in the UK, but the company is already taking names. With over 100,000 users onboarded within the first few months, things are looking pretty good for this company.

It is good to see more competition in the world of mobile payment solutions. Especially in the United Kingdom, as these app-based solutions can really thrive there. Yolt is a money app owned by ING. It was released to the public under Open Beta rules in the summer of 2017. So far, there has been a very positive initial response to this new application. Over 100,000 consumers have registered for an account, which indicates there is a solid demand for such payment solutions.

Yolt Takes the UK by Storm

Users can view their accounts and credit cards in one place. That alone makes it slightly more convenient compared to more traditional banking apps. There are some other features to enjoy as well. One option focuses on setting budget limits, which can be of great value to the right people. Additionally, purchases can be tagged, and there is a comparison tool for international money transfer solutions. All things considered, a proper app with a lot of potential.

Yolt CEO Frank Jan Risseeuw comments on the growth as follows:

“News of our registered app users reaching 100,000 is a fantastic milestone for Yolt and ING and we are really pleased we have reached this number ahead of time. We’ve made it this far with the feedback and suggestions of our brilliant community – with the arrival of open banking in 2018, we’re looking forward to giving our users even more choice and control over their finances.”

This rapidly growing user base is well worth taking note of. Consumers are more than open to some of the changes this mobile money app brings to the table. Yolt wants to showcase the benefits of open banking. Moreover, their focus on API integration has made it a proper collection of useful tools consumers have been looking for. It will be interesting to see how this app continues to evolve in the coming months. Open banking will be coming to the UK very soon. It will herald a new era of finance, that much is evident.

Header image courtesy of Shutterstock


About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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