Bud expands data intelligence platform with new office in Lithuania

By Gloria Methri

London-based financial data intelligence platform Bud has announced its expansion in Lithuania, with a new office set up in Vilnius. This office will be the company’s hub for technical and risk roles, powering its growth in the region and across Europe.

Last week, the Bank of Lithuania granted Bud Financial an AIS Provider licence, which will allow the company to work with financial institutions in Lithuania and other countries of the European Economic Area (EEA), opening new markets for the company.

“We are excited to bring our AI-powered personalised banking platform to Europe and work alongside some of the most dynamic players in the financial industry,” said Edward Maslaveckas, Co-Founder and CEO of Bud. “This licence is more than a regulatory milestone. It is a chance for forward-thinking European banks and fintechs to work with Bud and make a real difference to their customer experience and their bottom line by making the most of otherwise underutilised customer data.”

Bud was founded in 2015 as a financial education platform for consumers, that quickly pivoted to B2B data intelligence services. Today, Bud is an AI-powered platform used by global banks and FinTechs to turn transactional data into rich customer insight.

“Our platform leverages AI, machine learning, and natural language processing technologies for in-depth analytics,” said Tadas Miniotas, Engineering Director and Bud Lithuania CEO. “With over 50 billion transactions processed, our intelligence helps clients hyper-personalise their customer experience, create impactful marketing to win a greater share of wallet, and manage credit risk more effectively.”

“Access to engineering talent, a buoyant financial ecosystem, and a mature regulator all factored into the decision-making process,” he explained.

Bud has already hired technical and compliance team members in Vilnius and will boost its footprint in the region further with additional compliance talent, as well as hires in data analysis and commercial functions.