Bud one of ten companies picked for BBVA Open Talent
August 23rd, 2017 / Innovate Finance / News
Financial services aggregator Bud has been chosen by BBVA as one of ten companies that will transform the financial services industry.
They will have the opportunity to present their business at the Next Money Chicago event to a general audience and a panel of BBVA executives. This BBVA jury will select the winner who will receive: thirty thousand. Euros, an emersion week at BBVA’s Headquarters in Madrid and a spot in BBVAs Global Summit with a chance to win a further fifty thousand. Euros.
Bud, has partnered with over sixty companies in financial services including investments, insurance, currency exchange and mortgages. The experience they are creating for customers is one where everything is in one place. Customers will be able to view all of their bank accounts and credit cards on one screen, as well as the fintech brands bud has partnered with. Bud’s distribution model is to white label their service to banks’ millions of customers, creating more choice and flexibility for the end user.
Banks are adopting Bud’s innovative business model in the UK and Europe so that they can offer a ‘marketplace’ of services to their customers. The pressure of PSD2 and an influx of competition means that banks are increasingly focussing on increasing engagement in their digital channels. Ed Maslaveckas, Bud’s CEO said: “being chosen by such an innovative bank to transform the financial industry together is an enormous compliment. We have always believed in giving customers more choice and a simplified experience. The marketplace is just one of the unique features of Bud.”
The benefits of linking all services in one place go beyond just ease of use, as Ed explained: “by linking bank accounts and the wider portfolio of a users products together, we can start to understand where a person is underserved. We are currently developing a neural network that uses a users data to optimise their finances, increasing their financial well-being.”
This award comes after a string of commendations for the platform. They were one of twenty companies picked by Nesta to develop Bud for small businesses this year, and they were a finalist in Capgemini’s Innovators Race 50, as one of ten top small businesses, globally – the only UK finance company. Bud is an invited only platform for customers. You can head to their website thisisbud.com and add yourself to the list to be a beta user.