Yolt, the smart money management app owned by ING, has become the first third party provider to complete a successful connection with a CMA9 bank - Lloyds - under the new Open Banking system.
The first data sharing test run was made on 17 January between Yolt -currently operating in open beta in the UK - and Lloyds Banking Group.
Yolt says connections with more CMA9 banks will come onstream when the extended deadline for compliance ends in early March. At the moment, just Lloyds, Danske Bank and Allied Irish Bank have met the original 13 January data sharing date.
Yolt's tie up with Lloyds follows an integration via API with Starling Bank last year.
Imran Gulamhuseinwala, implementation trustee at Open Banking, says: “We can confirm that Yolt became the first third party provider to integrate with a member of the CMA9 earlier this month. These are the first, small steps towards genuine revolution in banking in the UK.”