Teresa Schlichting: The rebranding of our company in October 2022, along with several local brands, was a pivotal moment in our transformation journey. Apart from the name change from Arvato Financial Solutions, it signified our evolution into a more integrated fintech company, propelling our focus towards customer-centric and scalable products for the European markets.
With the backing and investment from our parent company, Bertelsmann, we consolidated a broad range of services under the Riverty brand that includes debt collection, accounting, and payment products – ranging from direct debits to a spectrum of payment-after-delivery options like invoices or BNPL (such as pay-in-3 and instalments), and embedded finance. The financial needs, patterns, and concerns of consumers are our starting point for innovation. We combine technology, data, and process optimisation to create financial products that empower consumers to live their best financial lives while fostering sustainable business for our clients and ourselves.
Central to our strategy is our dedication to place consumers at the core of what we do, and the rebranding gave us a unique edge in a competitive market. We have fully embraced this opportunity, positioning Riverty as key player in an industry where many fintechs are seeking their footing.
Teresa Schlichting: Riverty operates across the B2B and B2C sectors, delivering innovative solutions to merchants and consumers.
For our merchants and business clients, our services go beyond risk-free payments and accounts receivable financing. We create an optimised payment journey for their consumers – from a streamlined checkout to managing post-purchase payments, returns, and diverse financing needs. We are a steadfast partner in building and nurturing loyal consumer bases. If payment disruptions occur, our in-house collection team steps in, handling issues with the utmost care and responsibility offering merchants a competitive advantage. Unlike many of our competitors, we are also dedicated to responsibly sharing our insights and helping our clients tackle strategic challenges, be it business expansion or digital transaction flow optimisation.
On the consumer side, we are committed to protecting them from overspending. Using algorithms, machine learning, and individual assessments, we determine an affordable spending threshold for each consumer, ensuring transparency and fairness. Our efforts also extend to promoting financial literacy and health, with a focus on pioneering consumer communications and comprehensive financial management tools.
In essence, Riverty focuses on creating products that centre around the ecosystems of our clients and consumers. Our services seamlessly mesh, bringing forth innovative, responsible, and compassionate solutions. Whether addressing a consumer’s wish for flexible payment options or a merchant’s complete financial service needs, we are here to provide tailored support.
Bandan Jot Singh: The payments landscape is shifting to address the entire customer lifecycle rather than just the checkout process. For example, embedded payments that align with the ecosystem’s purchasing experience can significantly enhance customer loyalty for brands. By integrating tailored payment conditions, deferred payment choices, and embedded financing, merchants can amplify their customer lifetime value.
A key feature is consolidated invoicing, allowing consumers to combine purchases across product categories, settling them on favourable terms. This adds convenience and control. For businesses, especially those of medium and large sizes, there is a rising demand for payment solutions that resonate with their brand identity and customer communication. Embracing a partner-centric mindset and adaptable payment modalities cater to this need, granting them a competitive edge.
Moreover, the focus on flexible payment terms and responsible in-house debt collection not only caters to consumer interests but also supports merchant loyalty goals. This approach creates a win-win situation in a market where flexibility and personalisation are increasingly valued. It is part of a strategic shift towards creating more sustainable and fair payment experiences, cultivating value for both parties involved.
Bandan Jot Singh: The upcoming CCD2 regulation marks a crucial advancement in the payments industry, concentrating on essential aspects such as consumer affordability, transparency, encouragement for timely payment, and fair overdue payment plans. Riverty is actively engaged in understanding these alterations and liaising with authorities to offer insights and recommend practices in line with industry fairness and sustainability.
Instead of viewing the CCD2 regulation as a restriction, we see it as an opportunity to steer the industry towards a more responsible and sustainable direction. This aligns with Riverty’s longstanding strategy. It resonates with our values and symbolises our belief in offering flexible, fair payments and financial services.
About Bandan Jot Singh
Riverty is a leading fintech company with a presence in 13 countries. Specialised in transparent payment methods tailored for consumers, Riverty offers merchants a comprehensive toolkit, from BNPL schemes to smart accounting and debt collection, enhancing the financial journey for all stakeholders.
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