Bud Fintech Announces US Expansion with Key Hires and Funding from HSBC, Goldman Sachs, TransUnion
…Bud’s Transactional AI is the first of its kind, giving lenders a highly accurate picture of customers’ income, expenses and creditworthiness in real time. Lenders can approve multiple loans, safely assess risk and recommend the right products at the right time…
AUSTIN, Texas (PRWEB)
March 29, 2023
Today, Bud Financial Limited (Bud), a leader in Open Banking and transaction data intelligence, announced its expansion into the United States.
Bud’s entry into the US market coincides with strong demand for innovative products to shake up the $20 trillion banking industry. Backed by HSBC, Goldman Sachs and TransUnion, Bud has already hired its go-to-market team to meet strong market demand. The launch follows TransUnion’s strategic investment announced in February.
Headquartered in London, UK, Bud has been helping clients turn complex financial data into products that accelerate growth since 2015. Clients use Bud’s platform to improve customer experience and personalized financial management services, to increase engagement and increase loyalty. Bud’s ability to aggregate and categorize drives lending through income and employment verification, ongoing transaction monitoring and credit scores – connecting people to financial products and services that improve their lives. Clients leverage Bud’s cash flow analysis to make faster, more informed decisions that can result in increased revenue and reduced losses.
“We are thrilled to bring Bud to the United States,” said Edward Maslaveckas, CEO of Bud. “The US is showing growing interest in open banking, and many Americans are wondering how they can use transaction data in their business.
Bud’s Transactional AI is the first of its kind, giving lenders a highly accurate picture of customers’ income, expenses and creditworthiness in real time. Lenders can approve multiple loans, assess risk confidently and recommend the right products at the right time. We look forward to bringing our Transactional AI to customer-focused lenders in the US and North America.”
Bud’s North American operation kicks off with a newly appointed management team, bringing experience from across the US fintech landscape to oversee the expansion. The core launch team includes:
“Assessing creditworthiness has always been a challenge for lenders of all sizes in the financial services industry. Having spent nearly twenty years in the field, I’ve seen this firsthand,” explains Kyle Ray, EVP Bud North America. “But the solution is here and now: Bud’s real-time transactional insights. Our transactional AI not only enables lenders to make informed lending decisions faster, but it also drives customer lifetime value by fueling personalized services. With this innovative platform, both lenders and borrowers can benefit. I couldn’t be more excited to lead Bud’s US go-to market with an incredible team.”
Bud has achieved phenomenal success in the UK, achieving a leadership position in open banking with clients including HSBC, CreditKarma and ANZ. One lender saw an 84% increase in approvals and a 43% reduction in time spent on manual reviews. Bud is well positioned to replicate and expand this success in the US.
About Bud
Bud makes financial decisions simple by turning transactional data into rich customer insights. Our Transaction AI enables lenders to get an accurate picture of a borrower’s income, expenses and creditworthiness in real time. Enables faster, more informed decisions that drive profitability. With over 2.5 billion transactions enriched, Buds AI is constantly optimizing to serve lenders and their customers, improve financial well-being and expand access to credit. To date, Bud has raised over $100 million from world-class investors such as HSBC, Goldman Sachs and TransUnion. Learn more:
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