Bud Financial, a London-based financial data intelligence platform, has announced that it has chosen Vilnius, Lithuania as its European hub.
This new office is set to become the firm’s home for technical and risk roles, powering its growth in the region and across Europe, according to FF News.
Last week, Bud Financial received an AIS Provider license from the Bank of Lithuania. This license permits the company to collaborate with financial institutions not only in Lithuania but also across other nations within the European Economic Area (EEA), thereby opening new markets for Bud Financial.
Edward Maslaveckas, co-Founder and CEO of Bud said, “This licence is more than a regulatory milestone. It’s a chance for forward-thinking European banks and fintechs to work with Bud and make a real difference to their customer experience, and their bottom line, by making the most of otherwise underutilised customer data.”
Bud, founded in 2015, initially started as a financial education platform but quickly pivoted to offer B2B data intelligence services.
The platform leverages artificial intelligence, machine learning, and natural language processing to help banks and fintech companies turn transactional data into valuable customer insights.
“We’re excited to bring our AI-powered personalised banking platform to Europe and work alongside some of the most dynamic players in the financial industry,” remarked Maslaveckas.
Bud’s platform has processed over 50bn transactions, providing in-depth analytics that help clients personalise customer experiences, improve marketing strategies, and manage credit risk more effectively.
Tadas Miniotas, Engineering Director and Bud Lithuania CEO, commented, “Our platform leverages AI, machine learning, and natural language processing technologies for in-depth analytics. With over 50bn transactions processed, our intelligence helps clients hyper-personalise their customer experience, create impactful marketing to win greater share of wallet, and manage credit risk more effectively.”
The decision to expand in Vilnius was influenced by Lithuania’s mature regulatory landscape, access to engineering talent, and a robust financial ecosystem.
Elijus Čivilis, General Manager at Invest Lithuania, explained, “Lithuania is not only a mature FinTech hub, but also a growing hotspot for the development of AI-powered solutions. As a trailblazer of applying cutting-edge technologies in banking and financial services, Bud will fit right into the country’s dynamic tech landscape.”
Bud currently has around one hundred employees across the UK, US, and Lithuania, and plans to continue hiring in Vilnius to meet regulatory and commercial demands in the region.
The company has already onboarded technical and compliance team members and plans to further expand its compliance, data analysis, and commercial functions.
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