Apple buys UK-based open banking startup Credit Kudos

Apple has acquired a credit reference company. The company is a subsidiary of Apple and its policy link is now redirecting to Apple's website, according to a terms of use page on the company's website.

The acquisition was valued at $150 million, according to The Block.

Credit Kudos is a credit check agency that claims to give a more rounded picture of a person's financial health and creditworthiness than other approaches. The UK's open banking platform is used to analyze bank account data. Banking providers can make better decisions when people are seeking loans or other financial services.

The deal could allow Apple Card to arrive on the other side of the Atlantic. The credit card from Apple has been available in the US since August. The company might approve a UK resident's application for an Apple Card. It could be used to help Apple decide whether to allow customers to pay over a number of installments.