Yolt has announced that chief executive officer Frank Jan Risseeuw is leaving the Open Banking app to lead another division within Dutch parent company ING.

A statement from ING said he will leave Yolt on 1 February 2020 to become programme director of Model Bank, based out of Madrid, after leading Yolt for four years as chief executive.

The move is a major turning point for Yolt, which has expanded to over one million users for its app in the UK, France and Italy. Most recently, Risseeuw oversaw the launch of Yolt Technology Services, as part of a B2B offering.

In his new role, Risseuw will lead the integration of four countries to a new scalable banking platform; one of ING’s Think Forward Strategy projects.

He started Yolt back in 2016 with a small team and scaled the company from the original concept, foreseeing the opportunities in the second Payment Services Directive (PSD2). The Yolt app enables users to view bank multiple accounts, credit cards and investments, in one place.

Benoît Legrand, chief innovation officer at ING, said: “With ING’s Think Forward Strategy, we are committed to thinking beyond banking and to make banking clear and easy, available anytime, anywhere.

“Yolt is a great example of creating this differentiating customer experience through a disruptive platform business model – I would like to thank Frank Jan for taking Yolt from an idea to a market leader with dedication and passion.”

Yolt said that announcements on a new chief executive for Yolt would follow in due course.

Risseeuw added: “I especially want to thank the talented Yolt team, as I take this difficult - but ultimately right - decision to move onto the next challenge for me and my family.”

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