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Bud launches generative Al platform through Google Cloud deal

Banks, fintechs and other financial services organisations will now be able to apply Al to multiple different areas by using transaction and open banking data.

Bud Ed Maslaveckas

Ed Maslaveckas/Bud

London-based fintech Bud has launched a new generative AI platform through a deal with Google Cloud.

Bud, an early open banking provider in the UK, will now help banks, fintechs and other companies make “hyper-personalised” banking products by using transaction data and third-party open banking data since 2018.

Organisations can integrate Bud's large language model (LLM) technology through a single integration.

The company says it has been using AI for a number of years in various forms but this new update to its core platform will now underpins and powers Bud's two products: Assess (its lending and affordability solution) and Engage (its money management and personalisation solution). 

Bud's generative Al chat interface uses Google's PaLM 2 large language model.

"Since 2018, Bud has been diligently developing foundational language models that leverage bank data. These years of tireless product and technical work have brought us to this point, where we can deliver reliable, secure and personalized generative Al capabilities to our financial services customers, without compromising on data ethics. 

"We can unlock an endless array of insights for our clients, who can supercharge marketing efforts, refine customer segmentation, and optimize various aspects of their business operations. This is a true breakthrough, as we unveil a logic core capable of delivering real-time, limitless insights for both individual customers and corporate users", says Ed Maslaveckas, Founder and CEO of Bud.

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