TransUnion announces investment in open banking specialist Bud

TransUnion, a global insights and information company, has announced a strategic investment in Bud Financial a specialist in Open Banking and data intelligence.

TransUnion says that this dynamic partnership will help drive innovation and growth in the personal finance market and support better outcomes for consumers, with greater financial inclusion.

Headquartered in the UK, Bud helps its clients to turn complicated financial data into services that accelerate growth. Clients use Bud’s platform to enhance their customer onboarding experience and personal financial management services, in order to boost engagement and increase loyalty. Bud’s aggregation and categorisation capabilities power lending through income and employment verification, affordability assessments and ongoing transaction monitoring.

Satrajit Satty” Saha, CEO of TransUnion in the UK said “TransUnion is committed to increasing financial inclusion by continuing to expand the information available to create an accurate and reliable picture of each consumer.“

“This strategic investment marks the start of an exciting new partnership with Bud, combining our global infrastructure and insights expertise with Bud’s end-to-end Open Banking platform. This will allow us to grow our Open Banking offering and jointly develop the next generation of credit, affordability and fraud solutions.”

Edward Maslaveckas, CEO of Bud said “Bud exists to make financial decisions simple by turning transactional data into rich customer insight. By partnering with TransUnion, we’re able to combine advanced data intelligence capability with TransUnion’s expertise in financial services. This will drive improved return on investment for all of our customers, by connecting more people, through the banks they trust, to financial products that make their lives better.”

Todd Skinner, TransUnion’s International President said “As Bud expands its global presence, we see strong opportunities for harnessing our synergies to deploy innovative solutions that can be transferred to other TransUnion markets. We look forward to deepening and evolving this partnership, with Satty as part of the Bud leadership team, to support businesses and consumers, both in the UK and beyond.”