Bud expands to the US with new exec team

Open banking provider Bud is heading to the US.

The London-based fintech is expanding to the US following strategic investment from TransUnion last month, and nine months after raising $80m from TDR Capital to fund its international expansion.

Bud’s North American venture is launching with a newly appointed leadership team, including former nCino vice presidents Kyle Ray and Jeff Thormann and former Laybuy vice president Nathan Mairs.

“We are thrilled to bring Bud to the US. The US shows growing interest in open banking, and many Americans are wondering how they can use transactional data in their businesses,” Bud CEO Edward Maslaveckas said.

The fintech provides real-time transactional insights to enable lenders to make informed lending decisions more quickly and with personalised services.

“Bud’s Transactional AI is the first of its kind, offering lenders a highly accurate picture of their customers’ income, expenses, and creditworthiness in real-time,” Maslaveckas added.

“Lenders can approve more loans, assess risk confidently and recommend the right products at the right time.”

In the UK, Bud has customers including HSBC and CreditKarma and customers such as ANZ in Australia.

It is hoping to replicate and expand on the success it has seen in both the UK and Australia as it takes on the US market.