Yolt announces API connection with American Express
- Payments , Banking
- 23.04.2020 12:52 pm
Yolt, the smart thinking money app, has today announced a new API connection with American Express. The connection means that Yolt users with an American Express card can now see their spending and balance directly within the Yolt app, alongside their other current accounts, savings, credit cards pensions and other investments.
This latest integration means that Yolt now has live API connections with over 90% of UK consumer accounts, including connections with all of the CMA-9 (the nine largest high street banks) and challengers like Monzo and Starling. This latest integration with American Express, supports the brand’s aim to ensure its customers can connect and analyse their transactional data from a wide range of accounts, all in one central place. Yolt firmly believes that it is often this initial transparency across all of a user’s bank accounts, which forms the first step in forming healthy spending and saving habits.
The connection with American Express also brings Yolt another step closer to offering a whole-of-market open banking experience, which extends beyond current accounts, to include savings and credit accounts too. As the first third-party provider (TPP) to connect with all CMA-9 banks, Yolt continues to act as a proof-point for the UK’s Open Banking initiative which is helping to provide consumers with more access and control over their financial data.
Yolt’s latest integration with American Express follows other recent announcements from the brand, including the successful connection of online investment management platform Nutmeg and the launch of Yolt Pay, allowing users to transfer funds between their accounts and also pay friends and family.
Pauline van Brakel, Chief Product Officer at Yolt comments:
“In the current financial landscape, many people are understandably keen to keep a close eye on their finances and potentially seek ways to reduce their regular outgoings. Apps like Yolt give people a complete view of their finances, making it easier to identify areas where potential savings can be made.
“Credit has an important role to play in the day to day financial lives of many people, and when properly managed, can be a valuable money management tool. Our connection with American Express, one of the largest providers of consumer credit in the UK, was a much-requested feature and I hope it will help many of our users to better understand and navigate their finances.”