equipifi partners with Synergent to expand credit union access to BNPL platform

Following this announcement, Synergent credit unions will be given the possibility to launch their own BNPL programs through their digital banking apps, a process that aims to help members split their larger purchases into flexible installment loans. In addition, credit unions using Synergent to access Jack Henry's Symitar core processing platform will be enabled to easily launch BNPL to elevate member experience. 

Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

More information on the equipifi x Synergent partnership

With equipifi, Synergent's credit union partners will be given the possibility to leverage the knowledge of their members in order to extend BNPL offers in alignment with their clients' financial needs and goals. This process is expected to provide members with a competitive payment method that meets their purchase preferences, drives revenue and engagement, and increases the value of their digital banking experience. 

At the same time, as multiple members and customers are currently asking for Buy Now, Pay Later options, the partnership will allow Synergent to provide the service to credit unions that are already working with the company. 

Furthermore, the popularity of credit union BNPL programs is driven by customers who prefer to access financial flexibility from an institution they trust. With this in mind, the partnership aims to also expand the access of credit union BNPL programs to US clients, as well as to further assist FIs in the process of offering top-of-wallet services to their members.