Some common requirements for BNPL back-end platforms: • Embedded in the purchase flow • Proven ability to
A major US-based BNPL fintech was challenged with a slow credit process that took minutes for a credit decision, and an inefficient process for making changes and updates that took weeks. After evaluating the options to update this critical part of the business, the BNPL fintech chose Provenir to power the credit underwriting decisioning, and the results included: • Reduced decisioning time from minutes to seconds, decreasing cart abandonment and increasing sales • Significantly cut time to operationalize models, transforming the credit policy execution strategy resulting in more competitive campaigns and products Due to the ease of use and ability of the credit, risk, and data teams to control the process, the BNPL fintech was able to reduce the number of people needed to support the credit decisioning platform, as the manual work and development that was previously needed was no longer necessary. Provenir continues to play a significant role in providing a competitive edge and optimal user experience for the BNPL fintech, and others in the credit underwriting market.
provide a simple and compelling user experience
• Ability to provide a credit decision in real-time • Flexible underwriting models; support a broad range of credit profiles • Low friction to implement; ensure product can be rapidly implemented and scale across different merchant sizes with low effort Given the appetite in the market, BNPL is an enticing and valuable strategy for credit issuers to employ. It is critical that BNPL lenders empower the key user experience requirements and address the critical technical requirements to compete for the fast-growing BNPL segment. Provenir offers the market-leading solution to address the need for a robust decisioning platform, which automates complex decisions in seconds while managing the credit risk.
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