featured Affordability

Lender Fluro partners with Bud to supercharge its decisioning

Embedded consumer lender Fluro has selected Bud to power its lending decision-making through open banking data and transaction AI.

Fluro will integrate Bud's AI capabilities in account connection, categorisation and transaction analysis, to supercharge its decisioning engine and affordability assessments, for both existing and new customers.

Through Bud’s platform and deep AI capabilities, Fluro gains detailed insights and a holistic image of consumers’ financial context. Using Bud’s AI-trained models, Fluro can access consumer-permissioned transactions data to help its customers gain fairer access to financial products and counteract the increasing pressures of the cost-of-living crisis.

By introducing Bud's AI data capabilities, Fluro can now use real-time data insights to make accurate affordability decisions. The lender can provide its customers with a more inclusive and secure way to access financial services, such as unsecured personal loans and peer-to-peer lending products.

Over 60% of Fluro’s customers have chosen to opt into open banking access to their financial information. Access to wider and real-time transactional data, analysed through Bud’s deep AI technology, empowers Fluro to build a more transparent, effective and fairer lending process, and to widen its pool of potential customers, accelerating commercial growth.

"A growing number of our society—those that are self-employed, in the gig economy, or those with a thin credit history, for example—are increasingly faced with challenges when it comes to accessing credit,” said George Dunning, COO and Founder of Bud. “By partnering with Bud, Fluro can use our advanced data intelligence capabilities to make accurate and fast decisions, improving borrower outcomes and helping consumers mitigate these challenges.”

Nick Harding, CEO and Co-Founder at Fluro, said that the partnership with Bud would support Fluro’s mission to simplify credit and improve financial wellbeing.

“This partnership with Bud is another sign of our commitment to making sure that customers access loans safely and responsibly,” said Harding. “In the face of the ongoing cost-of-living crisis, Bud's platform will provide us with an even more holistic view of consumers' financial profiles, enabling us to offer loans with real-time context, and with unparalleled speed and safety.”

Lender Fluro partners with Bud to supercharge its ...

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