Financial institution NatWest Group invests minority shares in fintech firm Yonder
NatWest Invests in Yonder: A New Partnership for Enhanced Financial Experiences
In a recent development, UK-based credit card fintech, Yonder, has secured a significant investment from NatWest Group. The investment, driven by NatWest's 'Innovation and Partnerships' team, is aimed at helping Yonder grow at speed and scale.
Yonder's credit card platform targets a specific demographic, focusing on young professionals and expats. The company sets itself apart by providing customer experiences through "lifestyle-led rewards." These rewards are personalised for members through partnerships with local businesses and brands.
Tim Chong, the founder and CEO of Yonder, expressed his excitement about NatWest as an investor, stating that he looks forward to collaborating with them to deliver better lifestyle experiences with financial tools.
Sandi Royden, head of retail banking customer propositions at NatWest, shares this sentiment, expressing her eagerness to understand, personalise, and deepen customer experiences through collaboration with Yonder.
Ladi Greenstreet, the head of strategic investments at NatWest Group, did not disclose the details of the minority investment, but emphasised NatWest's belief in delivering better lifestyle experiences with financial tools.
A new partnership between Yonder and Griffin has resulted in the introduction of a 'Top-ups' feature. The exact details of this feature are yet to be disclosed, but it is expected to add value to Yonder's offerings.
NatWest Group's investment in Yonder draws on the bank's expertise, further solidifying its commitment to fostering innovation in the financial sector. This investment comes after a series of partnerships and projects by NatWest, such as consolidating customer data with AWS and Accenture to enhance personalised services, and partnering with OneID for digital identity solutions.
In September 2024, Yonder secured £23.4 million in a funding round, marking a significant milestone in the company's growth. The investment from NatWest Group reflects this belief in Yonder's potential and its mission to revolutionise financial interactions for young professionals and expats.
As more details about this partnership and its impact on Yonder's services emerge, we will keep you updated. Stay tuned for more exciting developments in the world of fintech!
[1] NatWest Consolidates Customer Data with AWS and Accenture (Source: TechCrunch, [date]) [2] NatWest Partners with OneID for Digital Identity Solutions (Source: FinTech Futures, [date])
- The investment by NatWest Group into Yonder signifies a strong partnership, further bolstering NatWest's commitment to fostering innovation within the fintech sector.
- With NatWest's strategic investment, Yonder plans to leverage industry insights and data to expand its credit card platform, targeting young professionals and expats with enhancedfinancial tools.
- Tim Chong, Yonder's CEO, anticipates this partnership with NatWest will lead to delivering superior lifestyle experiences and further personalizing customer interactions.
- Sandi Royden, head of retail banking customer propositions at NatWest, sees this collaboration as an opportunity to deepen and tailor customer experiences by merging Yonder's innovative fintech solutions with NatWest's finance capabilities.
- Ladi Greenstreet, head of strategic investments at NatWest Group, reaffirms the importance of open banking and fintech collaborations in revolutionizing the financial industry, as demonstrated by NatWest's partnership with Yonder.
