WhiteSight

Apple Opens Up To Open Banking

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Disclaimer: The content of this webpage is not investment advice and does not constitute any offer or solicitation to recommend any investment product. It is for general education and information purposes only.Kudos to Apple for acquiring Credit Kudos in the UK!Apple has reportedly shelled out $150M for Credit Kudos, an open banking technology firm. Let’s go down the rabbit hole of the resultant phenomenon that has emerged at the intersection of BigTech and Open Banking.Apple says hello to the Open Banking world. But wait, there’s more to Credit Kudos than just Open Banking.What Does Credit Kudos Bring To The Table?In addition to holding an AISP (Account Information Service Provider) license, they are also an FCA-regulated credit reference agency. And that gives them access to both open banking data and the credit data from banks that other traditional credit bureaus have access to. Being an AISP, Credit Kudos is also authorized to access an individual’s or SME’s bank account data from their financial institutions with their explicit consent. Credit Kudos is also registered with the Information Commissioner’s Office as a Data Controller and is compliant with the UK’s Data Protection Act and the EU’s General Data Protection Regulation. In addition to […]

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