The British fintech open banking company Bud has hired a team of executives who will deal with the issues of the firm’s entry into the US market and its further promotion in this region.
The fintech company’s technology is based on transactional models of artificial intelligence. These models allow financial institutions to personalize digital products and automate lending decisions.
The firm’s open banking platform is used by clients, including ANZ, Street UK, and TotallyMoney, to automate accessibility checks. Other clients, including HSBC and Credit Karma, are using the technology to help consumers sort out finances.
The company’s active activity in preparing to enter the American financial services market began after raising funds for $ 80 million in June last year and undisclosed investments from TransUnion in January 2023.
Edward Maslavetskas, CEO of Bud, says that there is currently an increase in consumer demand for open banking services in the United States. He also noted that many Americans are thinking about the possibility of using transaction data in their business.
Bud’s transactional AI is the first product of its kind. This solution offers financial institutions an accurate picture of the income, expenses, and creditworthiness of customers in real-time. Lenders, through the use of this technology, can approve more loans, confidently assess risks and recommend the right products at the right time.
Bud’s activity in the USA begins with the creation of a team of executives who have experience in the American financial technology sector.
Bud was founded in 2015. Initially, the company existed as an educational platform, now it serves global firms in the field of data mining. The number of Bud employees is more than 100 people. 300 million transactions are carried out monthly with the help of the company.
As we have reported earlier, UK Open Banking Users Swell to 7 Million.