Apple has acquired an open banking and credit score reference firm known as Credit Kudos. A phrases of use web page on Credit Kudos’ web site, which was up to date on March twenty first, notes that the corporate is a subsidiary of Apple. A privateness coverage hyperlink now redirects to Apple’s web site.
Credit Kudos is actually a credit score test company that claims to offer a extra rounded image of an individual’s monetary well being and creditworthiness than different approaches. Its API faucets into the UK’s open banking platform to investigate checking account information. It goals to assist banking suppliers make quicker and higher selections when individuals are looking for loans or different monetary providers.
The deal might pave the best way for Apple Card to reach on the opposite facet of the Atlantic. Apple’s bank card has solely been accessible within the US because it debuted in 2019. The API might assist the corporate decide whether or not to approve a UK resident’s utility for an Apple Card.
According to The Block, the acquisition closed earlier this week. The deal reportedly valued Credit Kudos at $150 million.