- Bud Financial, a data intelligence platform, has joined the open banking network of Akoya.
- The move will help Bud Financial market its personalization solution and data insights to financial institutions.
- Bud made its Finovate debut at FinovateFall 2023 in New York last year.
Data intelligence platform Bud Financial has joined the U.S. open banking ecosystem of Akoya. The move will make it easier for the company to enable financial services companies to offer their customers hyper-personalized financial experiences. The new resources will also help FIs take advantage of new growth and revenue opportunities.
“We’re really excited to bring together Bud’s AI banking personalization with Akoya’s unique data aggregation capabilities,” Bud CEO and Co-Founder Ed Maslaveckas said. “Banks and fintechs that work with Bud can leverage a full stack solution, bringing all consumer data into one place with access to tools that understand the data. This means anyone within a financial institution can create hyper-personalized experiences or insights, improving cross and up-sell of products.”
The combination of Bud’s AI-powered data enrichment techniques and Akoya’s secure and scalable open finance network of trusted data providers will offer FIs a number of major benefits. These include the ability to offer personalization at scale, enhanced personal finance management, data-driven risk management and cash flow analytics, as well as other efficiency gains that are achievable thanks to deep insights into customer data.
“Increased transparency, enhanced customer experiences, and streamlined operations are just a few of the ways this partnership will deliver real value,” Akoya CEO Behram Panthaki said.
Bud is the second Finovate alum that Boston, Massachusetts-based Akoya has partnered with this year. Last month, Akoya announced a strategic partnership with white-label data platform 9Spokes, which won Best of Show in its Finovate debut at FinovateSpring 2023. 9Spokes aggregates permissioned business data from multiple sources to help companies improve financial management and strategic decision-making. The Auckland, New Zealand-based firm was founded in 2012.
Founded in 2015 and headquartered in New York, Bud made its Finovate debut last year at FinovateFall in New York. At the conference, the company showed how its generative AI platform can transform bank data into a comprehensive financial picture with customer-level, transaction-level, and portfolio-level insights to power better decision-making. Bud securely enriches 300 million transactions a month and boasts that “zero” of its 100+ employees across four countries have access to client data.