Bud, an open banking and data intelligence leader, has secured funding from TransUnion to drive innovation and growth in open banking.
Headquartered in the UK, Bud helps its clients to turn complicated financial data into services that accelerate growth.
Clients use Bud’s platform to enhance their customer onboarding experience and personal financial management services, in order to boost engagement and increase loyalty. Bud’s aggregation and categorisation capabilities power lending through income and employment verification, affordability assessments and ongoing transaction monitoring – connecting people to financial products and services that improve their lives.
Following the investment, TransUnion’s Satty Saha will join the Bud board of directors and work closely with the Bud executive team to support future growth objectives.
Edward Maslaveckas, CEO of Bud said, “Bud exists to make financial decisions simple by turning transactional data into rich customer insight. By partnering with TransUnion, we’re able to combine advanced data intelligence capability with TransUnion’s expertise in financial services.
“This will drive improved return on investment for all of our customers, by connecting more people, through the banks they trust, to financial products that make their lives better.”
Satrajit “Satty” Saha, CEO of TransUnion in the UK, added, “TransUnion is committed to increasing financial inclusion by continuing to expand the information available to create an accurate and reliable picture of each consumer.
“This strategic investment marks the start of an exciting new partnership with Bud, combining our global infrastructure and insights expertise with Bud’s end-to-end Open Banking platform. This will allow us to grow our Open Banking offering and jointly develop the next generation of credit, affordability and fraud solutions.”
Boodil, a Manchester-based provider of an open banking payments and consumer engagement app, scored £525k in a pre-seed raise. Boodil claims its mission is to transform customers’ everyday spend with its cardless payment solution.
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