Apple acquires open banking provider Credit Kudos

Apple has acquired Credit Kudos, an update to the UK-based open banking provider’s website reveals, describing the company as “a subsidiary of Apple” and confirming media reports.

Credit Kudos enables consumers “to share specific financial information from your bank and credit card provider with your chosen financial services company” and “helps consumer credit firms, identity verification companies, banks, and financial institutions to conduct income verification, identity verification and credit checks,” the company’s website explains.

Apple’s acquisition was “closed earlier this week, according to three people close to the deal. One source said it valued the startup at about US$150m, a significant uplift in valuation,” The Block reports

“It is not yet clear what Apple has planned for Credit Kudos.”

Apple acquires open banking provider Credit Kudos was written by Tom Phillips and published by NFCW.