Apple (NASDAQ: AAPL) announced this week that it has acquired U.K.-based fintech startup Credit Kudos in a $150 million deal. Credit Kudos creates software that uses banking data from customers to conduct more thorough credit checks on loan applications. Credit Kudos operates in the nascent field of open banking, in which authorized third-party service providers can securely link to people’s bank accounts in order to access their personal financial information. Credit Kudos is a competitor to Equifax, Experian, TransUnion, the three major credit reporting agencies.
Apple buys UK fintech start-up Credit Kudos