UK FinTech Bud has been chosen by New Zealand bank, ANZ NZ, as a key partner.
In Brief:
- ANZ NZ will use Bud’s open banking technology for loan approvals.
- It aims to approve loans more efficiently for its business customers.
- Open banking will enable the bank to use and analyse data from people’s bank statements in order to decide credit worthiness.
What does this mean?
The deal marks expansion of Bud into the ANZ market, and with ANZ NZ the biggest bank in New Zealand, it’s a significant starting point in the region.
