Banking, Open Banking
Bud Financial Ltd. “Bud” has been formed to bring the power of modular financial services to consumers.
Financial Services are changing, becoming increasingly modular, transparent and efficient. Bud as a platform allows users to quickly find and understand modular financial products. Each module has multiple companies competing for custom and those companies have specific use cases. Bud will drive business to best-in-class suppliers and greatly benefit customers.
There are more than ~6000 new “fintech” entities globally which are largely focused in a singular sector..e.g Transferwise in remittances (a leading consumer foreign exchange provider). These products represent an opportunity for the consumer to gain market power.
The platform can be described as “Marketplace Banking” or “Modular Banking”. Users will be able to find a range of regulated financial services on Bud. We call the path to find new tools the ‘Discovery’. Discovery operates in two ways: direct and aided. Direct is a text input that matches tags attached to products. Aided is a step by step Q&A that narrows down the products. In either situation, solutions are discoverable on a case by case basis.
This is to help users find the right products (or ‘Financial Applications’) by use case. Allowing the user to find the product that will best address their needs or goals.