By combining Akoya's secure Open Finance network with Bud's AI-driven data enrichment capabilities, the partnership seeks to enable financial institutions to deliver customised financial solutions that cater to individual customer needs. The collaboration emphasises principles of user consent and data security as foundational to the value-added services offered to both financial institutions and consumers.
Representatives from Bud Financial highlighted the benefits of the collaboration, noting that financial organisations working with Bud can access comprehensive consumer data and utilize tools for creating personalised experiences and insights. These capabilities are intended to enhance product cross-selling and upselling within financial institutions.
Key benefits for organisations partnering with Bud include enhanced personalisation through advanced data methodologies, next-generation Personal Financial Management (PFM) solutions leveraging holistic transactional data, improved cash flow analytics and risk management capabilities, and deeper customer insights for targeted marketing and product development.
Officials from Akoya emphasised that the partnership will deliver transparency, improved customer experiences, and operational efficiencies through Akoya's trusted data network and Bud's transaction enrichment capabilities.
More information about Bud Financial
Bud has established itself as a transaction and data intelligence platform for the banking and financial services industry, specialising in turning transactional data into actionable customer insights. With a track record spanning over five years, Bud uses AI, machine learning, and natural language processing to offer benefits such as improved marketing strategies, refined customer segmentation, risk management, and operational optimisation.
In February 2024, Bud Financial announced a partnership with Fintech Galaxy to provide customers in the MENA region with Open Banking and AI-powered services. The collaboration aimed optimise financial services in the region of MENA by providing clients and partners with personalised behavioural insights, streamlined credit assessment processes, as well as new opportunities for growth and development.
