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Ronald Maguire

15 April 2022 180 Read Others

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Apple Acquires Open Banking Fintech Firm Credit Kudos

Apple Acquires Firm Credit Kudos. Yes, you read the news correctly.  Apple entered the open banking industry by acquiring Credit Cudos. Credit Kudos is a UK-based financial institution focused on making better profits for lenders. 

This fintech firm aims to solve the problem of not being sufficiently comprehensive of traditional credit reports with open banking data. This data allows lenders to gain a holistic overview of borrowers.

Why Apple Chose This Business Model

With this development, Apple may make credit cards available in the UK. The potential new focus of the tech giant, which launched the Apple Card in the US in partnership with Goldman Sachs, could be the UK.

 

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