Volt partners with Frollo to create Volt Labs and put customers first
A partnership between award winning digital finance SaaS platform Frollo and Australian digital challenger bank Volt has shown the value of taking a partnership approach when it comes to delivering insights and building products in the digital banking space. Volt Labs, the co-creation consumer app co-built by Volt and Frollo, has recently surpassed 10,000 users.
Commenting on the milestone, CEO of Volt, Steve Weston said, “Developing the Volt Labs app in partnership with Frollo has helped to put customers at the heart of our design, and we are delighted that so many of the 36,000 customers on our waitlist are co-creating with us.”
Volt partnered with Frollo earlier in the year to leverage Frollo’s API enabled platform and fast track customer engagement and product feature testing. Frollo also has significant insights from its own award-winning consumer app that has a large number of users. Leveraging these insights and building financial well-being features is part of Frollo and Volt’s shared vision of helping Australians be better off.
And in the case of Volt, the first of the emerging digital challenger banks to receive its banking licence, the ability to validate its approach with customers is invaluable and also allows Volt to understand how customers would like to use their data ahead of the widespread adoption of Open Banking.
“The entire Frollo platform has been designed with flexibility in mind and can be used by partners to build unique and engaging customer journeys. Our partners use the platform to fast track delivery of feature sets and enhance customer engagement. Volt has taken this a step further to show the value of co-creation with customers and leveraging technology to unearth practical and actionable insights.” says Gareth Gumbley, founder and CEO of Frollo.
“Australians deserve better financial products than they’ve received to date, and we’re excited about working with Volt to do things differently and innovate,” Mr. Gumbley continued.
The Volt Labs app, available for download through the Apple App Store and Google Play Store, enables users to join Volt bank’s community to co-create products and features.
Volt is currently testing a range of potential features which app users are testing and providing feedback on, with the ultimate benefit of improving Volt’s public offering when launched.