The Business Roundtable, a group of CEOs of nearly 200 major U.S. corporations, gave a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
These are the stocks posting the largest moves midday.Market Insiderread more
The president said the Fed has been hampered by a "horrendous lack of vision" and said it should institute 100 basis points worth of reductions in its benchmark rate.Marketsread more
Investors should be careful not to buy or sell stocks based on last week's brief inversion of the yield curve in the bond market, CNBC's Jim Cramer warns.Investingread more
The service will be available on popular platforms such as Apple TV, Google Chromecast and Roku, but not Amazon's Fire TV.Technologyread more
The London-based company's platform lets banks update their apps to give users access to financial services products from rivals. Banks can also categorize a customer's spending data using Bud's technology to help them find more cost-efficient products.
Its offering is part of an emerging theme in the world of fintech known as "open banking," which essentially means banks sharing their customer data with third-party providers to enable them to create new financial products.
Proponents of open banking say that it will increase competition in the industry and benefit consumers, giving them more choice over who they bank with.
Ed Maslaveckas, Bud's co-founder and chief executive, said in an interview that the sector has seen a "massive shift" from a focus on competitive rates and services to a digital-oriented customer experience and a "marketplace" banking model.
"The market dynamic is such that open banking is a much bigger change for banks than I think people realize," he told CNBC. "Open banking essentially allows the customer to get their banking data and make payments from any app or service of their choosing."
Bud's Series A funding round — an early-stage investment — also got backing from other big lenders including Australia's ANZ, South Africa's Investec and Spain's Banco Sabadell. Investec invested through its venture fund INVC while Banco Sabadell participated via its venture arm InnoCells.
Nineyards Capital — which counts former U.K. Finance Minister George Osborne as an advisor — and former Man Group Chief Executive Lord Fink also invested in Bud's Series A.
Part of the funding is subject to regulatory approval by the U.K.'s Financial Conduct Authority, Bud said.
Bud's boss said an underlying theme of the bank-led investment was partnering with large lenders to provide them with its technology.
"Not that much has been done to deliver these types of services to the millions of customers that use their banking apps day-to-day," Maslaveckas said.
"That's really what we are all are about and that's a testament to who we're working with… we really want to be the company that helps them deliver this new wave of fintech to their existing customers."
In 2017 the firm announced a partnership with HSBC aimed at providing the financial services giant's direct bank First Direct with its financial management tools.
Another significant element of the round is the geography of the investors involved. The company said it would look to expand its product to new markets over the next 12 months.
Maslaveckas said international expansion was "a big part of" the funding, but added his firm wouldn't be making any major global moves "until the end of this year."
Bud currently employs 62 people in its London office and says it plans on doubling that headcount following the fundraising.