Apple Buys UK Startup Credit Kudos

Image via Apple

24 MARCH 2022 - News of an interesting Apple acquisition that may mean a new home for Apple Card. MacRumors says the Cupertino-company has purchased the UK banking startup Credit Kudos. According to the report:

Credit Kudos offers insights and scores based on loan applications drawn from transaction and loan outcome banking data, sourced by the UK's open banking framework. The company's [website says its] API offers lenders a way to get faster, automated decision-making about loans with reduced risk and higher rates of acceptance…

We know Apple owns it because the terms of service on the Credit Kudos website now redirect to Apple's Terms of Use. As for Apple’s plan for Credit Kudos, no one outside of the companies knows for certain. But a number of sites, including MacRumors, think it is “plausible” that the Credit Kudos technology “could aid Apple with the launch of Apple Card in the UK.” Not the only idea bandied about, but “plausible.”