Following this announcement, the embedded bank accounts will enable Yonder’s customers to boost credit limits with cash top-ups, while also streamlining payment reconciliation behind the scenes.
In addition, the partnership will allow Yonder to offer its customers Top-ups, a new feature that helps them unlock a higher spending limit while enjoying all the benefits of credit. Both companies will continue to focus on meeting the needs, preferences, and demands of clients in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Yonder represents a modern rewards credit card that was developed in order to optimise the manner in which young individuals unlock optimised financial experiences. Griffin combines the secure, regulated infrastructure of a bank with the speed of modern software into its BaaS platform, aiming to improve the way companies embed banking into their suite of solutions.
Through this initiative, Yonder will continue the process of enhancing its offering with Griffin’s embedded bank accounts in order to deliver two key improvements. These include an account for Yonder’s customers to boost their spending power by adding their own cash to credit and a streamlined payments infrastructure that was developed in order to support the automation of previously manual reconciliation processes.
With these additions, Yonder will be given the possibility to provide its customers more control over how they spend credit while still enjoying all the benefits that come with that process. At the same time, these accounts will also provide Yonder with valuable data insights to support some credit decisions like increasing client credit limits.
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