Global fintech and funding innovation ecosystem

Why Apple Acquired An ‘Open Banking’ Fintech

Forbes | Ron Shevlin | Mar 27, 2022

Apple acquires credit kudos - Why Apple Acquired An ‘Open Banking’ FintechThe Apple-oids in Cupertino must eat this stuff up. Every time Apple makes an acquisition, the technology world—and increasingly now, the fintechaverse—goes into hyper speculation mode, trying to figure out why the company made the purchase and what it plans to do with the acquired firm.

See: Financial Consumer Agency of Canada publishes BNPL pilot study

What does Credit Kudos do?

via their Website:  “Credit Kudos’ intelligent products enable businesses to leverage Open Banking to enhance affordability and risk assessments. Our predictive insights are built by combining transaction and loan outcome data. Our products help lenders streamline underwriting, improve accuracy in decision-making, and support customers after acquisition through our engagement tools.”

Why Apple Wants Credit Kudos

BNPL acquisitions have been occurring faster than Ben Affleck finds new girlfriends:

  • Block, nee Square, acquired AfterPay for somewhere between $15 million and $29 million (the valuation was at the higher amount when the deal was announced, but Block’s stock price fell by ~50% by the time the deal closed).

See:  UK Research: How consumers use savings apps

  • PayPal purchased BNPL company Paidy in 2021 for $2.7 billion.
  • Zip acquired New York-based Quadpay in 2020 for nearly $300 million, and is now looking to purchase Sezzle.

It would be a real coup for Apple to acquire a BNPL capability for just $150 million.

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NCFA Jan 2018 resize - Why Apple Acquired An ‘Open Banking’ FintechThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

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