Bud Financial has entered Europe, launching its AI-driven banking personalisation platform in the region and establishing a regional office in Lithuania.
Bud has been granted the account information service licence that is required to operate in Europe via the Bank of Lithuania, enabling the company to offer regulated services across the region through passporting.
The company has hired Tadas Miniotas as regional chief executive officer and engineering director to work from its Lithuania office.
Bud already has a presence in the UK and US markets, respectively, having expanded into the US in March 2023.
With a foothold in Europe, Bud said that banks and fintechs can now benefit from its data enrichment and hyper-personalisation capabilities.
“We’re excited to bring our AI-powered personalised banking platform to Europe and work alongside some of the most dynamic players in the financial industry,” said Edward Maslaveckas, Bud’s co-founder and chief executive officer.
“This licence is more than a regulatory milestone. It’s a chance for forward-thinking European banks and fintechs to work with Bud and make a real difference to their customer experience, and their bottom line, by making the most of otherwise underutilised customer data.”
The company confirmed it is recruiting to fill compliance, data analysis, engineering and commercial roles at its new regional base in Lithuania.
Earlier this year, Bud partnered with Fintech Galaxy to enable FIs in MENA to offer personalised financial management apps, loans, savings accounts, and investment plans, based on insights into customers’ financial behaviours and requirements.
In the UK, personal finance app TotallyMoney teamed up with Bud for the launch of an AI-powered payments tracker, alerting the app’s customers to how specific payments might influence their credit score.
