Yolt has added the first investment provider to its money management ecosystem – Wealthify.

The integration will enable Wealthify customers to view their accounts within the Yolt money app, making it the first in the UK to show users’ live investments alongside their bank account, credit card and savings accounts and even pensions.

Building on the Open Banking ecosystem, Yolt has recently partnered with pensions consolidation tool PensionBee, home insurance platform Homelyfe, and life insurance adviser Anorak.

Michelle Pearce-Burke, co-founder and chief investment officer at Wealthify, commented: “App-based, Open Banking architecture is one of the most significant and exciting developments in retail banking in the past 10 years and promises to bring transformational changes to the way people manage their finances day to day over the next decade.

“Open Banking offers a game-changing level of accessibility to banking services that is akin to how our proposition is democratising investing, by breaking down barriers and making information and choice ubiquitous.”

Peter Hewlett, partner at management consultancy AT Kearney, commented that the partnership helps deepen the proposition that’s on offer to customers - particularly those that are more sophisticated and are looking to invest at a relatively low cost.

"Joining up savings accounts with investment accounts also addresses an underserved market need," he continued. "Too often conversations with banks are about one or the other, whereas customers expect and want to engage across the full spectrum of their financial needs.”

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