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Apple buys UK fintech start-up Credit Kudos

Purchase suggests US tech giant will launch greater push into credit services

Apple has acquired UK-based fintech start-up Credit Kudos, signalling a deeper push into payments technology by the iPhone maker.

Credit Kudos uses machine learning to create an alternative to traditional credit scores, suggesting that US tech giant may look to expand its lending services. Apple offers a credit card, which is currently only available in the US, in partnership with Goldman Sachs, and also offers instalment payment plans for its devices.

Apple has expanded into financial services more slowly than some in the banking industry had feared back in 2014 when it launched Apple Pay, which allows contactless payments using its iPhone and Watch and through its Safari web browser.

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