DXC Technology has partnered with Splitit to offer account holders instalment plans at checkout and post-purchase.
The solution is driven by Splitit’s proprietary AI engine that tailors offers or each customer, leveraging DXC’s Hogan core banking platform for instalment capabilities. Banks can now compete with BNPL providers while offering their customers more choice at checkout, enabling them to select flexible payment options using the cards and accounts they already have, online and in-store.
Instalment options for bank account holders
The partnership helps banks regain control by deploying branded instalment offers that appear automatically at checkout or within the bank’s online banking portal, with no third-party accounts or new loan applications required. This is beneficial for customers, as everyone with a bank account or debit card can enrol, not just those with credit cards.
The alliance also offers banks increased lending flexibility, as they can choose to originate the instalments directly on their books or have Splitit originate them. This enables banks to create new revenue streams and drive merchant growth, as marketplaces access bank-backed plans through Splitit’s network without multiple integrations or lending risk.
The instalment payment solution market is expected to grow from USD 2.23 billion in 2024 to USD 3.44 billion by 2031, expanding at a 6.4% CAGR. According to Splitit, 72% of merchants favour card-linked instalments for their reach and simplicity. Offering debit-first lending, the programme unlocks a wider customer base, especially among Millennial and Gen Z customers.
Splitit believes that BNPL providers cut out banks from the instalment process by delivering transactional lending at the merchant checkout. The new product aims to level the playing field by supporting banks to compete against BNPL players and offer instalments directly into existing bank accounts or debit cards. With DXC’s access to over 300 million bank accounts through its core banking platform and Splitit’s technology, the alliance can offer financial institutions a simple way to automatically deliver instalment functionality and attract new clients.
