Zorrz partners with Sileon for BNPL

Thursday 24 August 2023 13:08 CET | News

UK-based fintech Zorrz Finance has announced a partnership with Sweden-based company specialising in card-based Buy Now, Pay Later (BNPL) functionality, Sileon.


The collaboration seeks to enable more consumers to access BNPL solutions.

Zorrz's offering and what the BNPL partnership with Sileon entails

As per the information detailed in the press release, Zorrz has developed an artificial intelligence-powered tool entitled MoneyInsight360™, which helps generate a more complete, unified view of a person's credit history. Furthermore, the company is set to launch in the time to come the BlueAccess Card, a flagship credit card designed specifically for immigrants, individuals with previous credit challenges, and students.

By creating its new Financial Health Score, an alternative to the credit scores provided by the main credit reference agencies, as well as by developing its proprietary fintech products, the UK-based startup Zorrz is aiming to help democratise access to credit. The collaboration will see Sileon’s BNPL SaaS integrated into Zorrz’s BlueAccess Card. The added functionality is set to provide consumers with increased financial flexibility, should they wish to split payments for purchases when leveraging their BlueAccess Card.

Zorrz partners with Sileon for BNPL

When commenting on the announcement, Priyesh Mistry, Director of Zorrz said that they are looking forward to partnering with Sileon and adding BNPL functionality to their products. The spokesperson believes Sileon’s powerful SaaS technology provides them with the ability to meet customers’ needs for increased payment choice, saying that the partnership is in alignment with the company’s mission to democratise access to credit through AI and tech.

As per the company’s official statement, the cost-of-living crisis has brought people’s financial challenges into intense focus, and access to credit comes as a major challenge for a multitude of people. Tech is believed to be key in addressing these issues, as it is set to provide improved ways to assess someone’s creditworthiness while simultaneously helping reduce the barriers people face when trying to access financial products and accounts. Zorrz seeks to further drive positive change in this space.

Also adding on this, David Larsson, CEO of Sileon expressed excitement towards having their BNPL SaaS platform selected by Zorrz to address the increased demand for instalment payments in the UK, saying that the collaboration marks a step forward as they continue to expand globally.

Per the press release information, the Sileon – Zorrz partnership is set to launch in Q4 2023, which is when the first customers are to be enabled to leverage Zorrz’s BlueAccess Card.

Sileon’s offering and mission

A global fintech company, Sileon provides card-based BNPL SaaS functionality to banks, card issuers, and fintechs, enabling customers to add BNPL to their existing credit or debit card base and run their B2B or B2C BNPL business in-house.

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Keywords: partnership, BNPL, instalment payments, payments , paytech, fintech, credit access
Categories: Payments & Commerce
Companies: Sileon, ZORRZ
Countries: United Kingdom
This article is part of category

Payments & Commerce




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