HSBC Partners with Fintech Bud for New Open Banking App
HSBC along with its subsidiary First Direct has partnered with London-based fintech startup Bud to test one of its open banking apps.
This banking app will allow users to view all their account information and receive transaction notices, as well as have PFM features such as money management tips and product suggestions (even from third parties).
The partnership comes as a part of HSBC’s effort to focus on open banking technology.
As a part of the trial with Bud, 2,000 First Direct customers and 4,000 non-customers will participate in a six-month test period of the app.
In a statement to Finextra, Raman Bhatia, head of digital, UK and Europe at HSBC UK, said:
The First Direct trial and the launch of HSBC Beta allows us to test, learn and develop in a live environment, and then deploy the new technologies at scale.
Read more at Finextra and BankingTechnology.
