Existing PensionBee customers are now able to see their live pension balance within the money app Yolt, signalling a new era of transparency and empowerment for UK pension savers.
Yolt, the smart thinking money app with more than 300,000 registered users in the UK, is the first personal finance app to show your live pension balance alongside other financial accounts such as your bank account, credit card and ISA accounts.
This announcement comes as it continues its vision to become the only money app consumers need on their phone. The PensionBee integration comes alongside the money app’s plans to expand its partner platforms across three key sectors: utilities & bills, financial products and leisure & experience.
Clare Reilly, Head of Corporate Development, PensionBee said: “The Yolt–PensionBee integration is a game-changer for UK pension savers, who have sadly been left languishing in the 20th century for far too long. Today’s announcement firmly establishes pensions as part of the Open Banking revolution; pension balances should be on smartphones – and not in a drawer! Logging into Yolt to manage your entire financial universe is the future that pension savers have been waiting for.”
The integration comes off the back of speculation that the Department of Work and Pensions may abandon the Pensions Dashboard, a project that would allow savers to see all their pensions in one place. PensionBee is offering a full integration for users through its Open Banking API and is currently integrating its product with other banks and money apps.
Ms Reilly continues: “While this agreement with Yolt offers a full integration for existing PensionBee customers only, we hope it encourages other pension providers to move from paper statements by post to full digital integrations and APIs. As we recently showed in our annual Robin Hood Index, some providers have a long way to go in this area, but we’re happy to lead by example.”
Frank Jan Risseeuw, CEO of Yolt, added: “Our vision is to simplify your finances by building Yolt to be the only money app you need on your phone, so this integration with PensionBee is the natural next step for us on this journey. We want to give our users a holistic look at their finances and enabling them to see the value of their pension pot – anywhere and at any time – is a key part of this.”
Contact details
PensionBee Jasper Martens [email protected]
dd: 020 3859 5788 / m: 07575 061 935
Yolt (Rostrum) Hayley Schubert [email protected]
dd: 020 7440 8692 / m: 07342 998 564
About
About PensionBee
PensionBee is a leading online pension provider. Our mission is to make pensions simple, so that everyone can look forward to a happy retirement. We help consumers combine, contribute and withdraw from their pension, all in one place.
About Yolt
Yolt is a money platform built to give everyone the power to be smart with their money. Created to end multiple app juggling, users are able to view their accounts and credit cards in one clear app, allowing them to ‘unthink money’ and live life to the fullest.
Yolt, a venture of ING Bank N.V., was born in 2016 and has the strength and stability of a corporate yet thinks and acts in an agile way. Yolt has created all its systems in-house from scratch and is currently in open beta in the UK.
About ING
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 51,000 employees offer retail and wholesale banking services to customers in over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING’s corporate strategy, which is evidenced by ING Group shares being included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World) where ING is among the leaders in the Banks industry group.
