TransUnion invests in Open Banking firm Bud Financial

By Gloria Methri

TransUnion has announced a strategic investment in Bud Financial Limited (Bud), a specialist in Open Banking and data intelligence. The partnership is expected to drive innovation and growth in the personal finance market and support better outcomes for consumers.

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

“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.”

Headquartered in the UK, Bud helps its clients to enhance their customer onboarding experience and personal financial management services. Bud’s categorisation capabilities power lending through income and employment verification, affordability assessments, and transaction monitoring. This helps in connecting people to financial products and services suited to them.

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 are 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 added, “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.”