Financial conglomerate NatWest Group invests a partial stake in Yonder
NatWest Invests in Yonder: A Step Towards Personalised, Lifestyle-Led Banking
NatWest Group, one of the UK's leading financial institutions, has made a strategic minority investment in Yonder, a fintech offering lifestyle-led rewards on credit cards. This move is part of NatWest's broader ambition to become a technology and data-driven bank, offering personalized, value-added services to its customers.
Sandi Royden, Head of Retail Banking Customer Propositions at NatWest, emphasized the importance of understanding and personalizing customer needs for innovation, engagement, and proposition design. She expressed her excitement about the investment, looking forward to collaborating closely with Yonder to bring its customer experience, engagement, and reward approaches to a wider audience.
Ladi Greenstreet, Head of Strategic Investments at NatWest Group, also commented on the investment. She believes in delivering better lifestyle experiences with financial tools and looks forward to exploring new ways to deliver rewarding and responsible financial interactions with Yonder. Greenstreet is confident that this partnership will aid Yonder in growing at speed and scale, with NatWest drawing on its expertise to help Yonder's growth.
Yonder, founded by Tim Chong, targets young professionals and expats with its credit card platform. It offers personalised rewards by partnering with local businesses and brands, providing customers with lifestyle benefits tailored to their needs. This unique approach to rewards sets Yonder apart in the competitive banking market.
The investment by NatWest will not only provide valuable expertise and insights for Yonder's growth but also advance NatWest’s digital and customer engagement capabilities by integrating Yonder’s unique rewards platform. This can enhance customer loyalty and retention, strengthening NatWest’s competitive positioning in the UK credit card market.
NatWest's 'Innovation and Partnerships' team collaborates with early-stage companies to drive innovation and support strategic investments. This investment in Yonder complements NatWest's ongoing efforts to innovate through partnerships and minority stakes in fintechs that complement its core banking services.
There is a potential future partnership between Yonder and Griffin for the launch of a 'Top-ups' feature, a new development not previously mentioned. This partnership could further enhance Yonder's offerings and solidify its position as a leader in lifestyle-focused banking.
In September 2024, Yonder secured £23.4 million in a funding round, a testament to its growing popularity and potential in the UK financial market. With NatWest's investment, Yonder is poised for continued growth and innovation, offering customers a banking experience that goes beyond traditional products.
This strategic move by NatWest supports its goal to provide customers with personalized, tech-enabled financial services that drive both technological innovation and enhanced customer engagement. By leveraging lifestyle-focused rewards as a differentiator in banking products, NatWest is positioning itself as a leader in the technology-driven banking sector.
- The strategic investment by NatWest Group in Yonder, a fintech focusing on lifestyle-led rewards on credit cards, furthers NatWest's goal to become a data-driven bank offering personalized services.
- Sandi Royden, Head of Retail Banking Customer Propositions at NatWest, is excited about the partnership with Yonder, looking forward to collaborating on bringing Yonder's customer experience and reward approaches to a wider audience.
- Ladi Greenstreet, Head of Strategic Investments at NatWest Group, believes this partnership will aid Yonder in growing at speed and scale, leveraging NatWest's expertise to help Yonder's growth.
- Yonder, founded by Tim Chong, offers personalized rewards by partnering with local businesses and brands, setting it apart in the competitive banking market.
- The investment by NatWest can enhance customer loyalty and retention, strengthening NatWest’s competitive positioning in the UK credit card market, and also provide valuable insights for Yonder's growth.
