Yolt Technology Services tops 1 billion open banking API calls

  • Yolt Technology Services has reached 1 billion open banking calls following its expansion across Europe.
  • Usage of YTS’ API will likely accelerate further, though financial services players’ in-house developments could pose a challenge to growth. 
  • Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Fintech industry with the Fintech Briefing. You can learn more about subscribing here.

YTS has surpassed 1 billion API calls—single uses of its API—experiencing 10% month-on-month growth in the past year, per AltFi. Launched in 2017 by ING Bank, YTS provides financial institutions (FIs) and tech firms with three services, underpinned by API technology: account information services, payment initiation services, and data enrichment.

consumer perception of banks' open banking initiatives

Yolt Technology Services tops 1 billion open banking API calls.

Business Insider Intelligence


YTS’ growth is down to its expansion across Europe, with the coronavirus pandemic further boosting use of its infrastructure.

  • YTS expanded its coverage throughout Europe. It announced back
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Why the CEO of a $1 billion startup chose debt capital over VC funding

  • In February, Quantum Metric CEO Mario Ciabarra was fielding calls from investors at a rapid clip and getting unsolicited term sheet offers that valued the company at $1 billion. 
  • The term sheets offers slowed once the coronavirus hit but his company kept booming, growing annual recurring revenue at 70%, he told Business Insider.
  • By June, VCs were calling again, but the valuations were lower, even though revenue-under-contract had grown, said Ciabarra. 
  • So he decided not to take on a new round of funding yet. Instead, he opted for a $25 million loan from Silicon Valley Bank until he could secure a venture funding round at the terms he wants.
  • Visit Business Insider’s homepage for more stories.

In February, Quantum Metric CEO Mario Ciabarra was fielding calls left-and-right from venture capitalists eager to pour funding into the company.

“We weren’t actually trying to raise any specific amount of money,” he told

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Tesla’s quarterly report could land Musk another $3 billion

Video: Optimistic Australian CEO’s invest in digital technology (Sky News Australia)

Optimistic Australian CEO’s invest in digital technology

UP NEXT

UP NEXT

By Noel Randewich



Elon Musk wearing a suit and tie: FILE PHOTO: Automobile awards The golden steering wheel in Berlin


© Reuters/Hannibal Hanschke
FILE PHOTO: Automobile awards The golden steering wheel in Berlin


(Reuters) – Tesla’s upcoming quarterly report could put another $3 billion in Chief Executive Elon Musk’s pocket.

The electric car maker on Tuesday saw the six-month average of its stock market value hit $250 billion, a milestone toward triggering the fourth of 12 tranches of options to buy Tesla stock at a discount, granted to the billionaire in his 2018 pay package.

Musk’s compensation is exclusively made up of a series of potential stock options rewards based on market capitalization and operational goals. To secure Musk’s fourth tranche, Tesla still must hit a goal related to revenue or profitability, and that could happen in the company’s third-quarter report, the date of

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Flipkart Big Billion Days smartphone deals revealed, here is the list



a person holding a sign


Flipkart Big Billion Days sale is beginning from October 16 but there is only so much information we know about it. Until now. We are finally seeing Flipkart revealing deals on smartphones and other gadgets. A horde of smartphones from brands such as Samsung, Realme, Oppo, Vivo, and Xiaomi is now listed on the website. And, of course, we have the deal of the year – LG G8X for Rs 19,990 – as well.

To begin with, we have the LG G8X that is going to be the showstopper during the Flipkart Big Billion Days sale. LG is putting the G8X on sale for a discount of over Rs 30,000. This is a big discount: the G8X was launched for Rs 49,999 but you will get it for Rs 19,990 during the sale. We have covered this offer intensively in this article.

Flipkart Big Billion Days offers on Motorola, Samsung,

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Semiconductor Market to reach USD 90.80 billion by 2024, Broadcom Inc. and Infineon Technologies AG emerge as Key Contributors to growth

Technavio has been monitoring the semiconductor market and it is poised to grow by USD 90.80 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201005005033/en/

Technavio has announced its latest market research report titled Global Semiconductor Market 2020-2024 (Graphic: Business Wire)

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43410

This Report Addresses:

  • The market size from 2020-2024

  • Expected market growth until 2024

  • Forecast of how market drivers, restraints, and future opportunities will affect the market dynamics

  • Segments and regions that will drive or lead market growth and why

  • Comprehensive mapping of the competitive landscape

  • In-depth analysis of key sustainability strategies adopted by market players

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NEC snaps up Swiss digital banking solutions provider Avaloq in $2.2 billion deal

NEC has agreed to acquire Avaloq in order to secure a global pathway into the digital payments market. 

Announced on October 5, the deal will bring Avaloq under the Japanese IT group’s umbrella, although Avaloq will continue to operate using its own brand. 

Under the terms of the agreement, NEC will pay CHF 2.05 billion, or approximately $2.23 billion, for 100% of Avaloq shares. At present, 45% is owned by global private equity firm Warburg Pincus, whereas the rest are held by the firms’ founders and employees. 

Founded in 1985, Avaloq is an IT solutions company now specializing in banking, wealth management, and the digital payments space. The firm has developed business process as a service (BPaaS) and software as a service (SaaS) cloud solutions for banks and financial organizations. 

See also: Infosys acquires GuideVision in European services push

Headquartered in Switzerland, Avaloq is listed on the Tokyo stock exchange

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NEC to buy Swiss software firm Avaloq for $2.2 billion

TOKYO (Reuters) – Japan’s NEC Corp said on Monday it will buy Swiss financial software company Avaloq Group AG for 2.05 billion Swiss francs ($2.2 billion), a move that will spearhead its entry globally into finance software.

FILE PHOTO: A logo of NEC Corp is pictured at CEATEC (Combined Exhibition of Advanced Technologies) JAPAN 2016 at the Makuhari Messe in Chiba, Japan, October 3, 2016. REUTERS/Toru Hanai/File Photo

NEC will acquire unlisted Avaloq, Europe’s top provider of financial asset management software, from Avaloq’s founder and employees and private equity firm Warburg Pincus, which has a 45% stake and engineered the sale.

Avaloq, whose customers include Deutsche Bank and HSBC, reported sales of 610 million Swiss francs ($664 million) last year, 70% of which came from Europe.

The deal will allow NEC to offer cloud services acquired through the merger combined with its own biometrics and

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Reliance says GIC, TPG to invest about $1 billion in retail arm

(Reuters) – Indian oil-to-telecoms conglomerate Reliance Industries Ltd said on Saturday Singapore sovereign wealth fund GIC and global private equity firm TPG Capital invested a combined 73.50 billion rupees (about $1 billion) in its retail unit.

Reliance, controlled by Asia’s richest man Mukesh Ambani, has secured more than $2 billion in investments from global investors, including KKR & Co, Abu Dhabi state fund Mubadala and Silver Lake Partners, in Reliance Retail Ventures Ltd over the past few months.

GIC will invest 55.12 billion rupees for a 1.22% stake, while TPG Capital Management will invest 18.38 billion rupees to own a 0.41% equity stake in the retail arm, the company said.

The investments in Reliance Retail values the company at a pre-money equity value of 4.285 trillion rupees ($58.47 billion), Reliance said.

This is TPG Capital’s second investment in Reliance. In June, the firm invested $598 million in Reliance’s digital unit

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Exclusive: Airbnb aims to raise roughly $3 billion in IPO – sources

(Reuters) – Home rental company Airbnb Inc is aiming to raise around $3 billion in its upcoming initial public offering (IPO), people familiar with the matter said on Friday, taking advantage of the unexpectedly sharp recovery in its business after the COVID-19 pandemic roiled the travel industry.

FILE PHOTO: A woman talks on the phone at the Airbnb office headquarters in the SOMA district of San Francisco, California, U.S., August 2, 2016. REUTERS/Gabrielle Lurie/File Photo

Airbnb will be one of the largest and most anticipated U.S. stock market listings of 2020 which has already been a blockbuster year for IPOs, featuring the likes of record label Warner Music Group WMG.O, data analytics firm Palantir Technologies PLTR.N and data warehouse company Snowflake Inc SNOW.N.

Airbnb said in August it had filed confidentially for an IPO with U.S. regulators.

The company’s current plan is to

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Gaming Giant Roblox Preparing To Go Public Early 2021, Eyes $8 Billion Valuation: Report

KEY POINTS

  • Roblox is currently valued at $4 billion
  • It raised $150 million in series G funding in February
  • Roblox has more than 100 million monthly active users 

Gaming platform Roblox is getting ready to go public on the U.S. stock market early next  year, a move which may double its current valuation of $4 billion, Reuters reported.

The gaming company is in talks with investment banks to gauge whether it should debut on the market through a conventional initial public offering (IPO) or a direct listing, the report quoted sources as saying on the condition of anonymity. The company declined to comment to Reuters.

In an IPO, shares are created, underwritten an sold to the public, while in a direct listing, outstanding shares are sold with no underwriters involved. This is a rare method, which does not dilute the ownership of existing stakeholders.

This week, software maker Asana (NYSE:

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