US tech giant Apple has acquired UK open banking business Credit Kudos.
In Brief:
Credit Kudos is a FinTech that helps lenders make better decisions using open banking data.
Currently Apple offers a credit card in the UK and is reportedly planning on adding a wider range of financial services products.
Credit Kudos had previously raised £5mn in 2020 led by Albion VC.
What does this mean?
This is the latest UK acquisition Apple has made over the past few years but the company says it doesn’t normally comment on the purpose of acquiring smaller startups.
