It might feel like everywhere you look, you see open banking services. But did you know that only a tiny percentage of open banking service providers are actually mandated by...
AI-powered APIs have evolved and catalysed the creation of groundbreaking banking products that redefine the financial services sector. This transformation elevates customer...
3 min read.
How generative AI and real-time data are transforming financial services: webinar takeaways
Edward Maslaveckas, CEO and co-founder of Bud, recently joined key figures from U.S. Bank, DataStax and Google for an exclusive webinar hosted by CBA on 16 October 2023.
2 min read.
Introducing Drive: Bud’s AI-powered generative data analytics and marketing automation suite
Today, we’re excited to unveil Drive, our new product which brings breakthrough levels of performance to data discovery and communications. Using generative technology, we’re...
2 min read.
Bud selected by student finance platform Blackbullion to enhance its financial wellbeing solutions
Using both our Assess and Engage solutions, Blackbullion will make it easier and faster for students in need to apply for additional funding, including support funds, scholarships...
Rachel Fairhurst joins Bud as VP of Credit Risk and Client Success, and Jakub Piotrowski as VP of Product. Rachel Fairhurst, VP of Credit Risk and Client SuccessRachel arrives...
The financial services industry has undergone massive changes and what worked in the past may not work in today's digital, API-driven era.
In 2016, the Competition and Markets Authority (CMA) created the United Kingdom’s Open Banking Implementation Entity as a roadmap for delivering open banking - as well as the...
Debt collection is an important yet often challenging part of the lending lifecycle. As more lending and credit services become digital, modern APIs are empowering smarter, more...
Traditional banking models can cause a headache for consumers and institutions alike. For instance, while forgotten direct debit payments can be frustrating for customers it can...
Today, we’re thrilled to reveal Bud's groundbreaking innovation, an all-new generative AI core known as 'Bud.ai.' This cutting-edge technology brings a whole new level of...
As spiralling interest rates and inflation threaten to push swathes of UK consumers deeper into financial discomfort and distress, leading fintech experts and tech-savvy lenders...
With the introduction of the FCA’s new Consumer Duty legislation around the corner, regulated financial institutions are scrambling to comply. But with only a short window of time...
Fluro will integrate Bud's AI capabilities in account connection, categorisation and transaction analysis, to supercharge its decisioning engine and affordability assessments, for...
Jaja Finance (Jaja) has selected Bud to become its open banking and data intelligence partner.
2 min read.
How transaction data and personalised insights can help your customers through the cost of living crisis
In today's world, it's becoming increasingly difficult for customers to stay ahead of their finances. With the cost of living increasing, it's becoming more challenging for...
Since the last Forrester report in spring 2021, a lot has changed. The rush to comply with regulation has subsided. Open banking is no longer used to fulfil a single use case, but...
At Bud, we recognise the incredible importance of this year's International Women's Day theme, especially in the tech industry where just 26% of the workforce are women.* We...
Open banking helps finance providers verify the income and employment of loan applicants, including those who lack a detailed credit history, or who may have had trouble accessing...
We’ve all been there. The audiobook membership that seemed like a good idea at the time. The streaming service subscription so we could watch that film one evening. The boxes that...
MONEEMINT LIMITED, LONDON, UK, HQ [19th October 2022], has announced their partnership with Bud, an open banking platform designed to turn messy financial data into services that...
There are lots of great things about being in your 20s and 30s but money usually isn't one. Having to balance a busy social life while planning for the future is hard. Enter Kroo,...
As inflation rises and households feel the squeeze, our clients are focussing on how they can better support their customers.Over the past few years, there has been an increasing...
Bud, a financial AI company founded in 2015, has today announced its Series B funding totalling $80m. Bellis Phantom Holdco ltd, an indirect affiliate of investment funds managed...
Over the last few months, many of the technologies that underpin our Open Banking Affordability capabilities have moved on in leaps and bounds. That has meant that Bud's clients...
Sticking with our “Ronseal” naming conventions, Benefits Finder, the newest enrichment added to the platform, detects which government benefits customers are receiving. This...
Early adopters in this space are already at the point where their projects are bearing fruit. This de-risks the prospect of an open banking project. So without further ado -...
This is a varied space with an equally varied mix of use-cases, but as these conversations progress, it is becoming clear that there is a consensus roadmap amongst those...
We're pleased to announce that Bud is now an Accredited Data Recipient under the CDR after months of work behind the scenes.
What’s the Bud Connect flow? If you have your own AIS license you can use Bud’s technology to build your own account connection journeys with complete flexibility. If however,...
As the Open Banking market matures, we’re seeing a shift as use-cases evolve from the first wave of “your data in one place” propositions to a second wave of use-cases where...
With this in mind, we’re really excited to say that we’ve started rolling out CRM sync across the platform. Initially as part of our Assess solution for affordability and...
The team at TotallyMoney is focused on building a credit score service tailored for the under-served. It’s a segment where a nuanced approach to affordability is obviously a key...
Young businesses with the kind of agility that allows them to zero in on a single problem and iterate quickly towards a solution represent a huge opportunity for the Open Banking...
As its name suggests - the Financial Product Finder creates a summary of a customer's financial products using their transaction history. Currently, it can detect: Mortgages Loans
“Remote working has allowed me to hire people for their skills and experience, not how close they live to the office.” Nic Marucci, Head of Design, Bud
On Monday, the FCA released updated rules around the use of strong customer authentication in the context of Open Banking connections. The upshot of this is that the need for...
Tip 1 - Use Open Banking to reduce steps in your journey
Covid has accelerated the adoption of Open Banking services with OBIE reporting the doubling of users in just 6 months to 2 million people.
Bud is driven by one mission: to create the world’s most compelling financial data products. We share the belief that our designs need to be elegant, intuitive and inclusive in...
Over that time we’ve had some fantastic feedback from clients and customers on how we could develop the service. We're excited to share our updated API, which gives you an even...
Fraud Prevention This is probably the most straightforward case for deploying Open Banking tech in the BNPL sector. Account takeover fraud, where a fraudster gains access to a...
It’s been more than 6 months since HM Treasury confidently announced that Buy Now Pay Later (BNPL) products would move to become regulated by the FCA. In that time we’ve seen...
In 2019, Ofgem imposed a price cap on energy prices in a bid to help people manage the increasing cost of heating and powering their homes. This gets reviewed twice a year and has...
On the surface, the case for these projects is simple. If you already handle bank statements to check income then there’s often a huge amount of manual effort that goes into...
The events of the last year have changed so many things about our society that the picture for the rest of this year is far from clear. One thing that is clear however is this....
1 min read.
How we’re working with ANZ in New Zealand to increase transparency and streamline the lending process.
We’ve put a huge amount of effort into creating technology that offers leading innovation whilst maintaining the standards of privacy and security infrastructure demanded by the...
The FCA released a consultation paper in January this year that proposed raising the contactless limit from £45 to £100 per transaction and from £120 to £200 per day cumulatively,...
The pairing of Open Banking with smart data insights provides companies with an incredibly flexible tool kit for solving business problems. That's great, but it brings its own...
Last year, we said we’d be repurposing elements of our enterprise platform to make them available to younger businesses. We made the decision because younger fintechs, by their...
What is a standing order? A standing order is an instruction from a user to their bank to make a recurring payment of a fixed amount to a given bank account. The end effect is...
2 min read.
Introducing business bank accounts, 1st party and 3rd party data in our Aggregation gateway.
1st party / 3rd party What do we mean when we talk about 1st party and third-party data?
Our new Merchant ID service adds the ability to return the merchant name, logo and even added company information to a given transaction, to power insights that drive further...
Prompting people to take action on their finances is hard.
Affordability and fact-finding checks are an obvious early use case for Open Banking. The lenders we spoke to consistently reported higher drop off rates wherever processes...
It’s been clear for some time now that Open Banking's impact will only really start to be felt when it delivers value to customers and helps institutions bring product to market....
Earlier this year, we surveyed 2000 people on their openness to a series of 21 use cases - enabled by Open Banking - that look likely to emerge over the coming months.
As we start to acclimatise to life under lockdown, institutions are beginning to articulate the role they can play in the recovery. In particular, savings and investment providers...
Whilst it has been heartening to see the fintech community rally round to tackle the new problems that people are facing, the real test will come in making sure that we don’t let...
2 min read.
Merchant totals, predicted income and more: Check out the changes to our platform rolled out this month.
Towards the back end of last year, Bud’s development teams were working on a series of major updates to the platform. These have now started to roll out and since Christmas, the...
The closing of the 2010s and the dawn of a new decade herald an early milestone in the development of the UK's fintech ecosystem. It is now two years since the legislation...
2020 is shaping up to be an exciting year - so to kick it off, I want to welcome a new face and (re)welcome and old one to our board. Lord Stanley Fink spent seven years as the...
Over the last 2 years we’ve been working with HSBC first to help frame, then to help test the potential that Open Banking can deliver for their customers. Today we’re announcing...
Any company that has access to personal data must decide how to balance the interests of the end user with its own when setting data policies.
Everything we do at Bud is about helping people to get where they want to in life and we’ve spent the last 2 years working almost exclusively with big financial institutions...
Here’s what it means for financial service providers and their customers.
Since announcing our first partnership with HSBC and first direct more than a year ago, it’s been our intention to make the Bud platform as widely available as possible.
Open Banking represents a huge opportunity for building societies. From improving the effectiveness of lending through automation to providing the technical capability that...
This year’s conference provided a lot of talking points around the future of finance and how open banking is set to evolve. Here are a few key takeaways, as selected by our team.
5 min read.
Part 2 (of 2) How we're building a streaming architecture for limitless scale - Apache Beam
In the past I’ve worked on many systems which process data in batches. Typically the data would have been loaded real-time into relational databases optimised for writes and then...
This is the first of a two part engineering blog looking at data architecture for user behavioural data coming from a mobile application. Part 1 discusses the technical...
In exploring the relationships between young people and their money, our Futureproof report identified five personality types that have evolved in response to today’s financial...
Futureproof, a brand new report and podcast from Bud, explores the complex relationships between young people and their money as they search for financial confidence
In the life of a developer, nothing stays the same for too long. Languages evolve, and new ones emerge, meaning we’re constantly required to test our skills as we build systems...
At Bud, our use of APIs mean that we can match people with relevant products from our partners at the right time. This network of fintech companies and financial service providers...
