Volt and Frollo to launch BaaS app

Monday 15 November 2021 10:19 CET | News

Volt has partnered with Frollo to build and launch a new banking-as-a-service (BaaS) app that is fully integrated with Volt’s core banking system and can be white labelled for Volt’s BaaS customers.

In addition, Volt will become the first lender to use Frollo’s Open Banking-powered ‘Financial Passport’ to automate its lending decisions through a real-time, accurate, and complete assessment of the borrower’s financial situation.

Volt’s first customer to roll out a BaaS-powered app is Australian Finance Group. AFG launched its ‘Handl. By AFG’-branded customer app for a pilot group of 125 brokers in October 2021 and will roll it out to all of its 3,050 brokers in early 2022.

The app allows AFG customers to see and manage their AFG Sparc home loan product, open and manage a Volt Savings Account, make payments, and manage a Volt debit card.

Volt’s former consumer app will also be updated with the new build, which will give customers a full overview of their finances, insights on how to improve, and the tools to act on them through smart insights, nudges, and spend graphs.

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Keywords: Volt, partnership, product launch, BaaS
Categories: Banking & Fintech
Countries: Australia
This article is part of category

Banking & Fintech