AI-Powered Financial Services Platform Partners with Student Wellbeing Platform

Published 8 months ago

Bud Financial (Bud), an AI-powered data platform specializing in the financial services and banking industry, has announced a partnership with Blackbullion, a student financial wellbeing platform.

Bud and Blackbullion Collaboration

The collaboration aims to streamline the application process for students seeking additional funding, such as support funds, scholarships, and grants from their place of study or third-party organizations. This is enabled through Bud’s Assess and Engage solutions.

Blackbullion will also integrate Bud’s financial insights into the first financial literacy and wellbeing app built for students. The goal is to equip students with the necessary money management skills to gain control of their financial lives.

Blackbullion’s Role Across Universities

Blackbullion partners with over 60 universities and colleges in the UK, Ireland, New Zealand, Australia, and South Africa. Their platform houses the UK’s largest hub of support funds, scholarships, and grants for students. With Bud’s Assess solution, students can connect their bank accounts to their applications, allowing for automatic evidence submission. This method drastically reduces the amount of time and stress involved in the application process.

Personal Finance App for Students

Blackbullion’s app, designed specifically for students, is a personalized budgeting tool that helps students manage their finances effectively. It uses Bud’s open banking and transactional AI solution to project students’ future finances based on their current trajectory. The app also provides real-time insights into student spending and suggests areas where savings can be made.

Increasing Financial Literacy and Resilience

According to Blackbullion’s Student Money & Wellbeing Report for 2023, 40% of students are worried that money is negatively impacting their future optimism. The rising cost of living is a prominent concern for 78% of students. By incorporating Bud’s advanced AI and data enrichment capabilities, Blackbullion hopes to generate more accurate spending insights, thus encouraging students to build financial literacy and resilience.

The partnership between Bud and Blackbullion aims to support students’ financial wellbeing, promote financial education, and streamline the funding application process. With the aid of AI and data intelligence, the partners hope to foster financial resilience and success amongst the student population.