What happened to Yolt?
Yolt, the open banking-powered money management app developed by ING Bank, closed its consumer app in August 2022. ING decided to shut the B2C product to focus resources on Yolt Technology Services (YTS), its B2B open banking platform serving financial institutions and fintechs. YTS continued to operate and was later acquired by Tarabut Gateway in 2023.
What was the Yolt app?
Yolt was a UK-based personal finance management app launched in 2017 by ING Bank as part of a strategic bet on open banking. It allowed users to connect multiple bank accounts, view their finances in one place, and track spending. At its peak, Yolt had over 1.6 million users in the UK and was one of the most prominent consumer open banking apps in Europe.
What is Yolt Technology Services and does it still exist?
Yolt Technology Services (YTS) is the B2B open banking platform that underpinned the Yolt app. It provides open banking connectivity, data enrichment, and payment initiation capabilities to banks, lenders, and fintechs. In 2023, Tarabut Gateway acquired YTS, significantly expanding its European capabilities. YTS infrastructure continues to power open banking services under the Tarabut brand.
Open Banking in Practice: Yolt’s evolution from consumer app to acquired B2B infrastructure illustrates a common pattern in the UK open banking market: commercial value has increasingly concentrated at the platform layer rather than the consumer-facing application layer. The FCA-regulated AISP and PISP licences held by YTS continue to enable open banking services. Read our analysis of the open banking infrastructure market on openfuture.world.
FAQ
Can I still access my Yolt account data?
No — the Yolt consumer app closed in August 2022 and user data was deleted in accordance with UK GDPR requirements.
Who bought Yolt Technology Services?
Tarabut Gateway acquired Yolt Technology Services in 2023, adding its European open banking infrastructure to Tarabut’s existing MENA operations.
Were Yolt users protected when the app closed?
Yes — as an FCA-regulated AISP, Yolt was required to notify users, disconnect access, and delete data in compliance with UK GDPR.