HSBC, Goldman Sachs Back UK Open-Banking Startup Bud
04 Febrero 2019 - 1:27AM
Noticias Dow Jones
By Adam Clark
HSBC Holdings PLC (HSBA.LN) and Goldman Sachs Group Inc. (GS)
are among the investors in a $20 million funding round for U.K.
banking-technology startup Bud.
Bud said Monday that it will use the money to create the world's
largest team dedicated to the development of open-banking
technology, connecting customers' bank data with third-party
applications and products.
"The investment proves that banks are looking seriously at how
open banking can evolve beyond what regulation requires into
something that genuinely puts customers first," Bud cofounder and
Chief Executive Ed Maslaveckas said.
Bud said it has ambitions to double its team of 62 within a
year. Founded in 2015, the startup signed a deal with HSBC in 2017.
Last year, HSBC launched its first product as part of the
partnership, an application allowing users to see accounts from
different banks and analyze their spending data.
Raman Bhatia, HSBC's head of digital banking, will be joining
Bud's board as part of the investment. Other investors include
Banco de Sabadell S.A. (SAB.MC), Investec Ltd. (INL.JO) and Stanley
Fink, former chief executive of hedge fund manager Man Group PLC
(EMG.LN).
Write to Adam Clark at adam.clark@dowjones.com;
@AdamDowJones
(END) Dow Jones Newswires
February 04, 2019 02:12 ET (07:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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