Apple Buys Fintech Credit Kudos, Moves Into Open Banking

Apple has acquired UK-based fintech start-up Credit Kudos, which is an open banking firm. The deal is, reportedly, valued at about $150 million.

A spokesperson for Apple said the tech firm “buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”

The acquisition comes as Apple expands its range of payment services, and presumably looking at partners for buy-now-pay-later (BNPL) and merchant onboarding. This deal will not only make data and algorithms for immediate opportunities accessible, but also provide a general platform for utilising open banking to obtain financial institutions data.

However, it is unclear what the US tech giant has planned for Credit Kudos. Apple has made significant progress into financial services thr...

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