Jaja Finance signs partnership with Bud for Open Banking data

By Gloria Methri

London-based digital lender Jaja Finance has signed a partnership with Bud Financial Limited, to become its Open Banking partner. As part of the deal, Bud will support Jaja with its affordability assessments within the credit card application process.

The partnership will open greater access to credit and drive financial inclusion, by making credit available to those who might otherwise be declined using traditional decisioning methods. It also benefits those who wish to improve their credit score.

Incorporating Bud’s API solution, with its data aggregation and categorisation capabilities will give Jaja a better insight into a customer’s financial profile. The partnership will provide the digital credit card provider with a level of decisioning data that goes above and beyond the information available to credit rating agencies. 

Lucas Dalglish, Chief Commercial Officer at Jaja Finance said, “Partnering with Bud means we can not only widen access to credit for UK consumers, and those that need it most, but we will also have the tools and functionality necessary to aid financial inclusion and ensure our customers’ financial health with real-time data. We believe our partnership with Bud will make a significant impact on giving people more access to credit and providing them with the tools they need to manage it well.”

Eloise Taysom, VP of Product at Bud said, “We are thrilled to partner with Jaja Finance to support their mission of making credit simple. By leveraging our market-leading transactional data intelligence capabilities, we can help Jaja make more informed lending decisions that benefit consumers who might have been overlooked in the past.”

“We are excited to provide Jaja with our API solution for data categorisation and insight capabilities, which will offer real-time insight into customers’ financial profiles. This partnership represents a significant step forward in making credit more transparent and accessible to all.”

The partnership follows the launch of the Asda Money Credit Card and Asda Money Select Credit Card, a credit builder card aimed at those customers wishing to improve their credit scores.