Bud believes that open banking will fundamentally change the way we think about our money.
The award-winning start-up rebundles the FinTech landscape by making disparate financial services and apps work better together. An app and website, Bud works with consumers, banks and FinTechs to help consumers find and use the most helpful financial products and build their own banking experience.
In October 2017, Bud signed a deal with banking giant HSBC and raised £1.5M from backers including investment bank Investec and Spain's Sabadell Bank. It is in talks with over 40 banks around the world about possible partnerships.
In June 2018, the two-year old business launched The Bud Exchange, Bud.X, to give firms access to its own marketplace featuring P2P lenders such as RateSetter and Zopa, as well as Open Banking infrastructure – letting them set up payments and see a range of accounts on behalf of users.The new portal will be guided by financial and technology companies including Wealthify, Scalable Capital and AJ Bell.
In August 2018, Bud announced it is developing artificially intelligent software that automatically detects when an individual is paying rent and prompts them to get the payments verified. These verified payments are then gathered into a ‘rental profile’ and are able to be shared via API technologies to digital mortgage brokers, banks and other relevant services such as Credit Ladder, and RentalStep, the other winners of the challenge. the goal for their technology is to help people understand the usefulness of the data hidden n their bank and to get more renters with thin credit files approved for mortgages and onto the housing ladder.