Fronted launches on Yobota’s core banking platform

By Megha Bhattacharya

UK-based technology firm Yobota has announced the launch of rental deposit FinTech Fronted on its core banking platform. Fronted aims to help renters afford deposits when signing new tenancy agreements. The startup does this by offering a fixed 12.5% loan to cover the deposit, with renters able to spread the cost across up to 12 months.

Ammar Akhtar, CEO of Yobota, said, “It is great to see Fronted launch to market – they are addressing a major societal issue, by helping renters get easier access to homes, with the potential of building their credit scores at the same time. We’re really proud to be powering another innovative company in the UK.”

“The launch of Fronted is an important step for Yobota, too. We’ve demonstrated that our APIs can be used to build a wide variety of customer experiences, while putting our clients in the driving seat.”

According to Yobota, its flexible architecture and expressive Application Programming Interfaces (APIs) enabled Fronted to create an offering while focusing on user experience and simplicity. It also ensures Fronted can continue to improve its product and adjust to the changes in the market.

Jamie Campbell, Co-founder and CEO of Fronted, added, “Fronted was created to help renters move more easily and reduce their upfront costs. A flexible and reliable technology partner was needed to support this ambition, and to provide the underlying technology required to simplify the upfront rental deposit issue.

“The flexibility offered by Yobota’s architecture enabled us to create an innovative and tech-driven solution to a long-standing problem in the UK rental market. By utilising Yobota’s APIs, we were able to build a customised user experience that reduces the time and complexity involved in applying for a rent deposit.”