Fintech Bud Financial has selected Lithuania as its European hub.
According to Invest Lithuania, the financial data intelligence platform is expanding its presence in the country after the Bank of Lithuania granted Bud Financial an AIS [Account Information Service] Provider license.
Bud will now be able to provide services across all European Economic Area (EEA) countries.
Founded in London, Bud is described as an AI-powered platform that is used by banks and Fintechs to turn transactional data into customer insight.
Bud reportedly has around one hundred employees across the UK, US, and Lithuania.
Edward Maslaveckas, co-founder and CEO of Bud, said the license is more than a milestone, as they seek to work with financial services firms to leverage customer data.
Elijus Čivilis, General Manager at Invest Lithuania, said Lithuania is not just a mature Fintech hub but a hotspot for innovative AI firms.
“As a trailblazer of applying cutting-edge technologies in banking and financial services, Bud will fit right into the country’s dynamic tech landscape.”