Nicolas Weng Kan, the former Google Compare and Confused.com CEO, has been named as the new head honcho of smart money app Yolt.
Before joining Yolt, he also clocked up time spearheading the startups Quickquote and Motormate as well as his most recent venture ONEZERO-ME, a digital credit and risk scoring startup.
In his new role, Weng Kan will be responsible for both arms of the ING-backed FinTech, the B2C Yolt app and B2B open banking provider Yolt Technology Services.
“I am thrilled to join such a bright and talented team across both Yolt and Yolt Technology Services (YTS),” Weng Kan said. “The world as we know it is changing and it’s the companies who can deliver innovation excellence, who will thrive for the good of their customers.
“I strongly believe we have the talent, experience and commitment to support both consumers and businesses through these uncertain times. Now, perhaps more than ever, is when open banking adoption is likely to have a transformative impact, whether that’s delivered through innovative money apps like Yolt or as a service to companies looking to bring new solutions to market quickly and efficiently.”
Benoit Legrand, chief innovation officer at ING, added, “ING’s Think Forward Strategy means we are committed to thinking beyond banking, making it clear, easy and available anytime, anywhere. ING was recently voted as the most innovative bank in Western Europe and this is because we continue to deliver on our strategy to grow concepts into scale-ups like Yolt – who are already making great waves in disrupting the traditional banking model, with over 1.5 million registered users in just three short years.
“Nicolas’s extensive experience, passion and dedication for digital product innovation make him an excellent CEO for Yolt and I’m confident his appointment will only accelerate and strengthen the success of both businesses.”
The news comes after Yolt Technology Services announced in June that it had been picked by Dutch accounting software provider Jortt to help it with its PSD2-compliance API technology.
Through the partnership, Jortt would be able to automatically fetch transactions and balances for SME businesses through its accounting software.
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