Cheddar buys Open Banking FinTech Upside Saving

UK-based bank transfer platform Cheddar has acquired Open Banking technology company Upside Saving.

Upside has an Open Banking-enabled marketing platform which aims to connect retail brands with consumers by offering personalised cashback.

Cheddar, which is a free bank account-enabled payments platform, said that the integration will be used to develop its payment platform.

“We are delighted to have acquired Upside’s innovative technology and to begin implementing open banking as part of Cheddar’s services,” said Tariq Zaid, chief executive and founder, Cheddar. “We believe this will add substantial value for our customers whilst also complementing our other services and operations. We look forward to exploring these new open banking opportunities to enhance our customer offering.

“Consumer desires are at the heart of what Cheddar hopes to achieve and because of this we always want to stay at the forefront of innovation to ensure we’re offering our customers the very best in digital finance services.”

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