Bud adds smart subscription-management for its banking customers to harness

By Oliver Smith on Wednesday 28 July 2021

Digital Banking

Quitting Netflix or Spotify is about to get much easier.

Bud adds smart subscription-management for its banking customers to harness
Image source: Bud.

Open banking provider Bud continues to roll out data intelligence features to differentiate itself from its competitors, today with the addition of subscription-management.

Through a tie-up with Swedish fintech Minna Technologies, Bud now offers banks the ability to identify subscription spending (think Netflix and Spotify) and then allow customers to manage and cancel those subscriptions directly in their banking app.

Far better than searching through a dozen apps trying to figure out how to cancel or manage various services.

“Their subscription cancellation service, coupled with Bud's other capabilities, like spending insights and smart nudges, means banks and other FIs can access the largest array of capabilities to power their next-generation mobile banking app from a single supplier,” said Bud CEO Ed Maslaveckas.

It’s just the latest smart feature rolled out by Bud and now being offered to its banking clients, including First Direct, which launched its first product with Bud in May with more launches coming soon.

First Direct said the launches are its first steps in completely overhauling its digital banking app in the coming months.

“We can enrich banks’ toolset by helping them to reduce operational cost while also providing their end-customers with a digital-first experience, ultimately supporting better consumer financial health within the subscription economy,” said Minna CEO Joakim Sjöblom.

Last month, Bud rolled out a carbon tracking service with Enfuce to let consumers see how much carbon emissions their spending is contributing to.

Bud signed several significant partnerships earlier in the year, including with New Zealand’s largest bank ANZ and with credit scoring app Credit Karma.

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