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Apple has acquired Credit Kudos, a UK open banking startup that seeks to help lenders make better decisions (via The Block).

credit-kudos-apple.jpg

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 API offers lenders a way to get faster, automated decision-making about loans with reduced risk and higher rates of acceptance, according to its website.

The startup began raising funds in April 2020, obtaining $6.5 million in investment, and the company is reportedly now valued at around $150 million. Three people said to be close to the acquisition deal with Apple told The Block that it had concluded earlier this week. Credit Kudos's Website Terms of Use link now redirects to Apple's Terms of Use.

It is not clear what Apple has planned for Credit Kudos, but it is plausible that the company's technology could aid Apple with the launch of Apple Card in the UK. The UK is among Apple's most important markets, with the country possessing the largest number of Apple Stores outside the United States and China, and new features and services are often first to reach the UK after launching in the U.S.

Apple's main credit product, Apple Card, is available exclusively in the United States, but Credit Kudos's technology is based on the UK's open banking framework. It is possible that Apple could modify Credit Kudos's technology to work with the U.S.'s growing open banking sector to strengthen Apple Card's credit checker, but Apple could also have UK-exclusive plans for the company.

Credit markets and financial regulation varies massively in countries around the world, so it would not be straightforward for Apple to launch Apple Card internationally. Apple would likely need to seek specific solutions to make lending decisions in each country, so it seems feasible that Credit Kudos could be the chosen credit checking platform for the UK. If that is the case, the launch of Apple Card in the UK could still be some time away as the company integrates the Credit Kudos platform with a new, international variant of Apple Card.

Following the success of Apple Card in the U.S., it could make sense for Apple to expand into overseas markets. While visiting Germany in 2019, Apple CEO Tim Cook confirmed his interest in launching Apple Card internationally. In 2020, Samsung launched Samsung Pay Card in the UK, seemingly in an effort to establish a foothold in the region before Apple does.

Apple often acquires smaller businesses to bolster its technologies and expertise without obviously or immediately rolling it into a product or service. On the other hand, many acquisitions do go on to be key parts of Apple's ecosystem. In recent years, Apple has acquired businesses such as Shazam, a music recognition service, and Drive.ai, an autonomous vehicles company. Acquired apps such as Dark Sky and Workflow were folded into or became new Apple apps. Specialized classical music streaming service Primephonic is next to be integrated into existing Apple products, with a new classical Apple Music app set to launch this year.

Article Link: Apple Acquires UK Banking Startup in Potential Hint at International Apple Card Launch
 
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Brenster

macrumors 6502a
Jul 7, 2008
762
726
Will be interested to see what Apple might do with a UK specific Apple Card service. We’re different enough from what I understand the US card services market (fees, interest rates, rebates etc) that bringing over the US service & model 1:1 probably isn’t viable.
 
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ruka.snow

macrumors 68000
Jun 6, 2017
1,847
4,922
Scotland
No doubt a future iteration of the appletv will feature next level gaming

M1 appletv = quantum leap for tvos gaming ?
Nope. Game devs want to see a standard included game controller so we know what to target. As it stands you can already create great games on that hardware, but selling them isn’t easy and there is no default controller to target. The processor and GPU improvements would make for a fantastic new Apple TV, but it’ll go nowhere without a decent game pad sold with it.

At least(to my knowledge) Apple gave up on the games must work with the remote controller requirement.
 
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PsykX

macrumors 68000
Sep 16, 2006
1,709
1,726
Just because you want something doesn’t mean it makes sense for Apple to do it.
I don't know if this proposition makes sense or not, but Apple really has to dive as hard as they can into gaming once and for all.

They have Apple Silicon, which would be more than capable of playing AAA games natively. People all over the web are scratching their heads because they don't even know how to benchmark it correctly : native AAA games with the tech of today do not exist on Apple Silicon, and the usual benchmarks don't ramp up the GPU. What gives ?
 

w5jck

macrumors 65816
Nov 9, 2013
1,196
1,580
No doubt a future iteration of the appletv will feature next level gaming

M1 appletv = quantum leap for tvos gaming ?
You are in fantasy land dreaming about fantasy gaming! I seriously doubt Apple will turn the Apple TV into a gaming console for the minority of users who want to use it as such. The ATV 4K already costs 3 to 4 times as much as most of its competitors's devices, if they turn it into a gaming console it will likely cost $600+, and the vast majority of us would then give a giant middle finger to Apple and switch over to Fire TV or Roku. Perhaps Apple will release a PS5 type of gaming console some day, although I doubt it, but it won't be a replacement to the ATV.
 

Schnegg

macrumors regular
Oct 9, 2017
145
249
Do you seriously think gaming doesn't generate revenue?
Gaming in general does, but the Mac offers a poor platform for AAA games. I mean, how many people own an M1 Mac and are interested in gaming? The Arcade strategy with casual cross-platform gaming makes more business sense, since it includes the billions of iOS devices and bolsters the subscription offering.

It would be fun though I they somehow decided to have a flagship Mac-only game like Halo (which was originally developed as a Mac game).
 

ksec

macrumors 68020
Dec 23, 2015
2,052
2,306
The UK is among Apple's most important markets

So, they are not pulling out of the UK market any more?

And I am not sure how it is related to Apple Card. Apple dont decide on the credit score process. It is the bank's job that does the underwriting for Apple Card. May be it has something to do with Apple going into Finance industry?
 

abhibeckert

macrumors 6502
Jun 2, 2007
407
552
Cairns, Australia
So, they are not pulling out of the UK market any more?
Why would they do that? Something like half the population in the UK owns an Apple device (50% marketshare for new phone sales - so they can get there without even counting secondhand phones or macs/ipads). Clearly they make a lot of money there.
 

Robert.Walter

macrumors 68020
Jul 10, 2012
2,391
3,045
The analysis here is wrong.

They acquired this company to do what it does.

Apples card partner Goldman is already is registered in multiple markets around the world.
 
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abhibeckert

macrumors 6502
Jun 2, 2007
407
552
Cairns, Australia
Gaming in general does, but the Mac offers a poor platform for AAA games. I mean, how many people own an M1 Mac and are interested in gaming? The Arcade strategy with casual cross-platform gaming makes more business sense, since it includes the billions of iOS devices and bolsters the subscription offering.

It would be fun though I they somehow decided to have a flagship Mac-only game like Halo (which was originally developed as a Mac game).
How many people who own a PC are interested in gaming? Less than the same number for iPhone.

Smartphone gaming earns more money than Console and PC combined. It would make financial sense for Apple to focus on gaming more than they are right now.
 
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George Dawes

macrumors 68020
Jul 17, 2014
2,094
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=VH=
Re gaming the last game I played on a Mac was marathon c 1994-5 ?

The stuff on appletv is pretty abysmal , no idea why

Totally agree about Nintendo, amazingly resourceful company
 

TPALTony

macrumors regular
May 29, 2007
134
90
Here's hoping they partner with a bank I would actually consider doing business with! I've interacted with Goldman Sachs several times in my professional career as have many of my friends and it's just not a firm I would ever do business with. So I'm hoping that UK Apple Card is with a different bank, otherwise I'll skip it.

Somewhere along the line, my desire for cool Apple stuff hits the wall of "things I'm not prepared to do!" :)
 
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