News

FintechOS launches BNPL feature

Friday 13 May 2022 09:59 CET | News

FintechOS has delivered a new feature that allows companies to create, customise, and roll-out their own BNPL product, together with embedded lending.

As there are many parameters in constructing BNPL offers that are localised for a particular market and personalised to target customer segments, banks and lenders value a high degree of control and configuration in order to differentiate their offerings versus competitors. Achieving success in this area will require a new-generation technology stack which doesn’t box innovators into traditional personal loan or overdraft constraints, according to the fintech.

FintechOS’ open and low-code approach means that teams at institutions can build and edit BNPL and embedded lending products, customer journeys, and business automation logic in a single orchestration across its lean full stack digital financial innovation platform. And they can do this without relying a on complex code or buying new technology.

Commenting on the announcement, officials said they believe all banks and lenders should be leaning into the BNPL trend as a way of bringing in new generation customers, generating new sources of non-interest revenue via merchant fees, and diversifying the value proposition of their digital current accounts and payment wallets. However, many institutions are limited by their technology stack and the lack of control afforded to their digital teams.

BNPL and embedded lending propositions created with FintechOS technology can be integrated into existing business administration systems or administered via fully configurable customer and staff portals. This ensures that the institution can run the complete lifecycle of BNPL lending and servicing in a tailored model, while also benefiting from the scalability and performance of the underlying cloud-native SaaS-based technology stack.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fintech, product launch, BNPL, local payment method, lending, SaaS
Categories: Payments & Commerce
Companies: FintechOS
Countries: World
This article is part of category

Payments & Commerce

FintechOS

|
Discover all the Company news on FintechOS and other articles related to FintechOS in The Paypers News, Reports, and insights on the payments and fintech industry: