https://ffnews.com/newsarticle/apple-acquires-uk-open-banking-startup-credit-kudos/ * Home * About + The FF Team + Join Us! * News + Fintech + Paytech + Crypto + Funding + Insurtech + Sustainability * Fintech TV + Payments Race + Webinars + Fintech Fire Round + Fintech Rap * Events + Events + Event Coverage o Events 2021 o Events 2020 o Events 2019 o Events 2018 o Events 2017 o Events 2016 o Events 2015 * Magazines + The Fintech Magazine + The Paytech Magazine + The Insurtech Magazine + Supplements 2021 * Exclusive + Thought Leadership + Commentary + The Fintech Fix + Whitepapers * Episodes + The Fintech Show + The Paytech Show + The Insurtech Show * Virtual Arena + Neo Banks + Insurtech Division [ ] Type to search [svg][about] Fintech FinanceFintech Finance Fintech FinanceFintech Finance * FINTECH * INSURTECH * PAYTECH * Home * About + The FF Team + Join Us! * News + Fintech + Paytech + Crypto + Funding + Insurtech + Sustainability * Fintech TV + Payments Race + Webinars + Fintech Fire Round + Fintech Rap * Events + Events + Event Coverage o Events 2021 o Events 2020 o Events 2019 o Events 2018 o Events 2017 o Events 2016 o Events 2015 * Magazines + The Fintech Magazine + The Paytech Magazine + The Insurtech Magazine + Supplements 2021 * Exclusive + Thought Leadership + Commentary + The Fintech Fix + Whitepapers * Episodes + The Fintech Show + The Paytech Show + The Insurtech Show * Virtual Arena + Neo Banks + Insurtech Division [svg][Bitstamp-Webinar-banner-728x90-1] * Home * About * Contact * Follow on Google News * * * * [svg][Bitstamp-Webinar-banner-728x90-1] Fintech HomeBox News Apple acquires UK open banking startup Credit Kudos [svg][f692] Lauren Towner March 23, 2022 Apple acquires UK open banking startup Credit Kudos | Fintech Finance Apple acquires UK open banking startup Credit Kudos | Fintech Finance Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple. The deal closed earlier this week, according to three people close to the deal. One source said it valued the startup at about $150 million, a significant uplift in valuation. A link labeled 'Website Terms of Use' on the Credit Kudos website currently leads to a page outlining Apple's terms of use. Both Credit Kudos and Apple were contacted for comment but did not respond by press time. Credit Kudos last raised money at the height of the Covid-19 pandemic in April 2020, bagging PS5 million (roughly $6.5 million) in a round led by AlbionVC. TriplePoint Capital, Plug and Play Ventures, Ascension Ventures' Fair by Design fund, Entrepreneur First and a number of angel backers also invested. The startup offers insights and scores on loan applicants drawn from bank data -- specifically transaction and loan outcome data -- sourced via the UK's open banking framework. Its API can offer lenders faster decision-making, less risk, and increased acceptance rates, according to its website. Open Banking frenzy Launched in 2015 by founders Freddy Kelly and Matt Schofield, Credit Kudos becomes the latest in a string of big European open banking acquisitions in the past year -- albeit the first to be snapped up by a tech giant. Up to now, card network operators Mastercard and Visa have been driving consolidation in the sector. In June 2021, Visa paid EUR1.8 billion (roughly $2.15 billion at the time) for Swedish open banking firm Tink -- an acquisition that was finalized earlier this month. In September, Mastercard announced the acquisition of Aiia, a Danish open banking startup. It is not yet clear what Apple has planned for Credit Kudos. The Silicon Valley-based company currently offers financial products primarily through its mobile wallet Apple Pay, and in the form of a credit card that it began rolling out in August 2019 Source: https://www.theblockcrypto.com/post/138898/ apple-acquires-uk-open-banking-startup-credit-kudos [svg][sign-up-on-page] Tags: * Apple * credit kudos Companies in this post: * [svg][xR8YOOND_400x400-300x300] Credit Kudos * [svg][1-5] Apple Previous Article Clim8 launches TV advertising campaign with renowned science presenter and mathematician, Hannah Fry Next Article Forex Awards & Forex Expo 2022: People's Choice [svg][Bitstamp-Webinar-banner-300x300-1] Thought Leader Insights * FF Virtual Arena: The Digitisation of Trade and Working Capital | Fintech FinanceFF Virtual Arena: The Digitisation of Trade and Working Capital | Fintech Finance FF Virtual Arena: The Digitisation of Trade and Working Capital HomeBox, News, Virtual Arena * [svg][175398-fea] FF Virtual Arena: O desafio atual das credenciadoras brasileiras Fintech, HomeBox, News, Virtual Arena * FF Virtual Arena: What Will The Future of Fintech Look Like? | Fintech FinanceFF Virtual Arena: What Will The Future of Fintech Look Like? | Fintech Finance FF Virtual Arena: What Will The Future of Fintech Look Like? 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Next Up [svg][forex-1-335x160] Forex Awards & Forex Expo 2022: People's Choice Eleanor Hazelton March 23, 2022 [svg] [CMR-3379-FM-2022-BNKS-ALL-Global-Prime-Time-2022-Report-TTP-500x200-1] [svg][ff-logo-lg-white-500-300x90] About Us At Fintech Finance, we aim to produce the slickest episodes, interviews and event coverage, looking at the complete range of topics within financial services, from branches to blockchain. We travel extensively across borders to find the most interesting and undiscovered features, be it in Manchester or Mongolia. All of our video coverage is written up into our extensive magazine library that consists of "The Fintech Magazine," "The Paytech Magazine," and "The Insurtech Magazine." ...basically, we travel around the world, chat to the best and brightest people in Fintech while making the most entertaining, exciting and insightful content in the industry! 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