Lower than a yr after shutting down its consumer-facing sensible cash app, ING-backed Yolt is ready to shut utterly, shuttering its business-to-business open banking operations.
Shoppers and Yolt’s 48 workers have been knowledgeable, with the agency trying to part out utterly by April.
Yolt shut down its consumer-facing sensible cash app final yr in an effort to deal with the B2B operations, arguing that this was one of the best ways to speed up the adoption of open banking.
Nonetheless, ING now says: “ING and its companies repeatedly consider actions, together with assessing whether or not they’re prone to obtain the popular scale of their market inside an affordable timeframe.
“On this context, the analysis has led to the choice to part out Yolt.”