Yolt enters beta period for smart money app update in response to COVID-19

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Smart money app, Yolt announced today that it is heading into a beta period. This will allow the company to test a new update of its smart spending and savings-focused application. Yolt stated that it would be testing a series of new and free features for catering to the shift in consumers’ financial priorities and help users during the pandemic.

Pauline van Brakel, Chief Product Officer, Yolt, commented, “The Covid-19 pandemic has dramatically changed our relationship with money. With this new financial landscape that is taking shape, spending smart and saving money has never been more important. Our research shows that consumers are aware of this, but that they are still struggling to save despite their good intentions.”

According to Yolt, the new update of the app will be built on the existing features, including account aggregation via APIs, thus enabling users to view their multiple accounts and manage budgets in one central place. The company’s beta phase will be available for UK iOS users first with more details on the new features to be revealed in the coming weeks.

Yolt’s CPO added, “We want to make smart spending and growing savings achievable for everyone, whatever their financial situation, helping people to reach their personal life goals in ways that are effortless and tailored to them, whether that’s freeing up money for a safety net, stashing some cash for Christmas or saving for that house deposit a few years down the road.”

“The pandemic has just reinforced our brand mission to empower Yolt users to be smart with their money. But we also recognise that the crisis has created many additional financial pressures for consumers. Therefore, we believe this new landscape and the changing needs of consumers, calls for an evolved app. We are committed to helping people find a new way of balancing spending and saving during these increasingly challenging times.”