Highnote expands payment platform to power consumer credit programmes

Designed and developed by Highnote’s payments veterans, the expanded platform offers a comprehensive range of credit capabilities - from technology that facilitates underwriting, repayment, and loan servicing to full credit programme management. With these API-enabled capabilities, fintechs, brands, and banks can now offer innovative and differentiated credit programmes, strengthening their relationships with customers.

Tailored solutions for modern financial needs

As consumer preferences have grown increasingly sophisticated, the market for credit services to support them has also increased in complexity and competitiveness. Credit products operate in a complicated regulatory landscape and often require unique financial and contractual structures. In addition, any modern credit offering also requires comprehensive benefits, including payment flexibility, purchase protection, credit score improvement, and highly personalised rewards. Against this backdrop, Highnote offers differentiated, tailored credit solutions that don't require cobbling together a disparate array of third-party tools.

Highnote officials stated that supporting consumer credit programmes is a strategic move for them, aligning with their modern card platform. They view credit not just as a service but as a transformative experience, covering underwriting, origination, issuance, financing, and ongoing servicing. Highnote aims to create a future where payments are smarter, more flexible, and closely integrated with a brand’s overall experience.

Highnote’s consumer credit platform provides a comprehensive set of capabilities needed to meet these increasingly sophisticated requirements. Built on the same modern architecture as the debit, prepaid and charge card products, the consumer credit product leverages the same core elements, including the advanced general ledger and developer-first APIs, and adds the critical functions of a holistic credit product. Customers using Highnote’s platform for consumer credit programmes have configurable product terms, efficient repayment management, and a fee engine that all enable differentiation for a company’s target audience.

Key product capabilities include:

• Collaborative Application Decisioning: Highnote offers a framework for customers to integrate their credit decision-making into the application process. It provides full control and flexibility in modifying credit policies to make better underwriting decisions;

• Powerful Account Aging Simulation: Fintechs and brands can test different payment scenarios to simulate how a billing statement and account status are impacted over time. Additionally, customers can run simulations to calculate the interest and minimum payments for past-due accounts;

• Flexible Configuration: Customers have the ability to customise their credit programme by setting distinct APRs for purchases, cash advances, and promotional financing and/or the credit risk of the individual applicant and in alignment with regulations;

• Advanced Credit Servicing and Management Technology: Highnote’s experienced team oversees the operational tasks of managing existing credit card accounts, such as recurring payment schedules, ACH repayments, and the sale and purchase of receivables, investor servicing support, while also working collaboratively with customers to facilitate the strategic planning and decision-making to optimise the entire credit card programme;

• Credit-Specific Program Management: Highnote's specialised teams provide guidance through the onboarding process, including credit-specific requirements.
  
  

What does Highnote do?

Highnote is an embedded finance company revolutionising modern card platform management. Their integrated tech stack enables innovative businesses to embed virtual and physical payment cards, ledger, and wallet features seamlessly. Through the developer-friendly Highnote platform, enterprises can enhance user experience, boost revenue, and establish a distinct brand identity by incorporating these services into their existing products.