With households feeling the squeeze, financial institutions should be making every effort to support their customers through these difficult economic times. Leveraging transactional data to intervene with timely and actionable insights can improve customers’ financial resilience, while also building engagement and loyalty.
Bud has been named a ‘Leader’ in 'The Forrester Wave™: Open Banking Intermediaries, Q1 2023' report, receiving the highest scores possible in the innovation roadmap, commercial model, and innovation ecosystem and partner network criteria.
When we started Bud, we did it because we believed that it should be easier for everyone, everywhere to be good with money. Open Banking in the UK gave us the opportunity to take huge steps forward towards that goal and the Consumer Data Right in Australia offers that same opportunity. So we’re taking it.
We're pleased to announce that Bud is now an Accredited Data Recipient under the CDR after months of work behind the scenes.
For our global customers, this means we can now support them in the Australian market. For Australian businesses looking to build new services using financial data, it means we can bring our industry-leading capacity to turn messy financial data into powerful customer insights to bear on the problem.
In the short term, we expect to see real growth in three key areas in the market:
The CDR is a particularly exciting prospect due to the flexible options it provides in terms of data access models. This means that clients can get to market fast by choosing the right model for their use case.
We’ll be supporting clients by offering access to CDR data through all five of the data models from sponsorship and “appointed representative” models to much lighter-touch arrangements like the CDR insights model. For more on how we can support you to access CDR data, check out our Guide to accessing CDR data with Bud, or grab the guide through the form at the bottom of this.
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Bud is the trading name of Bud Financial Limited, a company registered in England and Wales (No. 9651629).
Bud® is authorised and regulated by the Financial Conduct Authority under registration number 765768 + 793327.