Paydentity, which enables merchants to offer loans digitally and on-site so customers can finance products, is the fintech's first digital banking product. Registered users have the option of using the app to finance their product with a loan from any retailer that offers Paydentity. The fintech also offers a credit check, which allows users to check in advance how much they can finance.
According to a Solarisbank representative, customers receive a credit decision in just a few minutes due to the completely digital application process. The Solarisbank acts as a bank and credit partner, which will enable BO1 to continue to implement further digital banking products in the future, as its own portfolio is to be expanded. BO1 is offering merchants this product with the use of Solarisbank's API-based solution for consumer loans.
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