At the heart of Kroo’s lending products will be a bespoke credit decision engine
co-created with Bugni Labs, a specialist financial services engineering partner. The
credit platform will look to leverage Kroo’s proprietary data, as well as open
banking and traditional credit reference agency data to make more accurate, more
transparent lending decisions for a broad range of borrowers.

Bugni Labs CEO Abhay Chrungoo, said “We are deeply passionate about modern,
web-scale technology that can create personalised, ubiquitous and seamless
financial services experiences. It is super exciting to join Kroo on its journey of
fintech innovation”

Kroo believes that banking needs to change for the better. Taking control of your
finances should empower you to make a positive impact on the planet. That
means easy management of personal and shared finances alongside a strong
sense of social responsibility. That’s why Kroo has already committed to donating
5% of company profits to charity once it’s reached profitability.

Charles Spencer, Kroo’s product lead for lending said “We want to build a credit
decision platform that helps us make smarter decisions for our business and our
customers. Like us, Bugni Labs are a new, adaptable and purpose driven start up,
so it was a perfect fit to achieve this mission together.”

“Our partnership with Bugni Labs brings together excellent technology synergies in
terms of our common cloud-native, microservices-based, event-driven
architecture which enables us to lay a strong foundation for rapid, iterative
delivery of lending features.” added Diptesh Mishra, CTO at Kroo.

Currently, Kroo offers a prepaid debit card account, which delivers a great everyday
digital experience, flexible personal and shared finances, and the chance to make
the planet a better place.