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The co-founders of Bud, George Dunning and Ed Maslaveckas.Bud.
Today, some of the world's largest banks have joined forces to invest in a London-based start-up, determined to change our relationship with money.
Bud, co-founded by Ed Maslaveckas and George Dunning, provides open banking technologies to major players, with special attention to AI and "smart accounts".
Goldman Sachs, HSBC, ANZ (Australian and New Zealand banking group), Investec and Spain's Banco Sabadell, along with other investors, today announced $ 20 million to Bud, as part of round robin A series of startups.
"What we have been doing for about a year, we have tested and tested solutions with banks and this has proven to be very successful. Now is the time to step up and integrate these solutions into a real banking environment, " Bud CEO Maslaveckas said Forbes.
To do this, Bud plans to double its workforce of 70 and establish what Maslaveckas calls "the largest team dedicated to open banking in the world."
Launched in 2016 as an application that allows users to consolidate all their bank accounts and expenses into the same place, Bud quickly changed course to become a B2B provider of open banking technologies.
Today, Bud is strengthening the influence of HSBC's artha AI application to its First Direct customers, enabling them to badyze their spending across their entire accounts and claim to work with 85 companies, including Hiscox and AJ Bell.
Raman Bhatia, head of digital banking at HSBC Retail Banking and Wealth Management, who will join Bud's board as part of the investment, said:
"& Lsqb; Bud a & rsqb; have helped shape our approach to open banking, collaborating with us to provide services facilitating banking for our clients. "
Curiously, Maslaveckas described today's investment as "really a matter of trade deals," but wondering about the Marcus Goldman Sachs savings account, he added, "We can not divulge 'commercial agreement at this point, it's really about them'.
The bill change is another battleground than the CEO mentioned in Forbes last year and that seems to be gaining momentum – Monzo recently announced the simplification of the bill change is underway. a feature she "explores", while the automatic switching service is secure, take care of my bills an badessment of £ 4 million on the BBC. The dragon's lair last year.
"We are going to look into one of our essential tasks," said Maslaveckas. "For us, it's about changing bills and saving money, but what then? What do they do with this money, does it become pocket money or a savings goal, that's what really obsesses us? . "
He also spoke of "non-traditional banking products," including Bud's recent victory in the government's rent recognition challenge, which developed an algorithm to track and condition rents to improve someone else's credit score.
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The co-founders of Bud, George Dunning and Ed Maslaveckas.Bud.
Today, some of the world's largest banks have joined forces to invest in a London-based start-up, determined to change our relationship with money.
Bud, co-founded by Ed Maslaveckas and George Dunning, provides open banking technologies to major players, with special attention to AI and "smart accounts".
Goldman Sachs, HSBC, ANZ (Australian and New Zealand banking group), Investec and Spain's Banco Sabadell, along with other investors, today announced $ 20 million to Bud, as part of round robin A series of startups.
"What we have been doing for about a year, we have tested and tested solutions with banks and this has proven to be very successful. Now is the time to step up and integrate these solutions into a real banking environment, "Bud's CEO, Maslaveckas, said Forbes.
To do this, Bud plans to double its workforce of 70 and establish what Maslaveckas calls "the largest team dedicated to open banking in the world."
Launched in 2016 as an application that allows users to consolidate all their bank accounts and expenses into the same place, Bud quickly changed course to become a B2B provider of open banking technologies.
Today, Bud is strengthening the influence of HSBC's artha AI application to its First Direct customers, enabling them to badyze their spending across their entire accounts and claim to work with 85 companies, including Hiscox and AJ Bell.
Raman Bhatia, head of digital banking at HSBC Retail Banking and Wealth Management, who will join Bud's board as part of the investment, said:
"[Bud has] have helped shape our approach to open banking, collaborating with us to provide services facilitating banking for our clients. "
Curiously, Maslaveckas described today's investment as "really a matter of trade deals," but wondering about the Marcus Goldman Sachs savings account, he added, "We can not divulge 'commercial agreement at this point, it's really about them'.
The bill change is another battleground that the CEO mentioned at Forbes Last year, which seems to be gaining momentum – Monzo recently announced the simplification of billing change, a feature she "explores", while the automatic switching service, Look After My Bills, has achieved a valuation of £ 4 million on the BBC. The dragon's lair last year.
"We are going to look into one of our essential tasks," said Maslaveckas. "For us, it's about changing bills and saving money, but what then? What do they do with this money, does it become pocket money or a savings goal, that's what really obsesses us? . "
He also spoke of "non-traditional banking products," including Bud's recent victory in the government's rent recognition challenge, which developed an algorithm to track and condition rents to improve someone else's credit score.
