TransUnion has announced a strategic investment in Bud Financial Limited. "This dynamic partnership will help drive innovation and growth in the personal finance market and support better outcomes for consumers, with greater financial inclusion," the company said. Open Banking allows finance providers to better verify the income of applicants, including those who may not have a detailed credit history, or have had trouble accessing credit previously, and offers an alternative to manual, often resource-intensive processes. "TransUnion is committed to increasing financial inclusion by continuing to expand the information available to create an accurate and reliable picture of each consumer," said Satrajit "Satty" 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."
Published first on TheFly
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