Apple has acquired British banking startup Credit Kudos, according to reports. The move could pave the way for Apple Card in the UK.
As reported by The Block:
Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple.
The deal was completed earlier this week, according to three people familiar with the deal. A source said they valued the startup at around $150 million, a significant increase in valuation. A link titled “Website Terms of Service” on the Credit Kudos website currently leads to a page outlining Apple’s Terms of Service. Credit Kudos and Apple were contacted for comment but did not respond by press time.
Credit Kudos is a startup that offers loan seeker insights and scores from the UK’s open banking framework. The acquisition could open the door to Apple Card in the UK, should the company take advantage of technology within Apple Card to assess customer credit scores and ratings.