Center the Customer Experience With so many new players entering the BNPL game, consumers can take their pick of provider. The BNPL lenders that really stand out will center the customer and provide world-class experiences across the customer lifecycle. To put your customer first, ensure your technology can: Personalize journeys McKinsey recently found that 71% of consumers expect personalization from businesses. Go beyond personalized offers and give customers personalized journeys across the lifecycle. Invest in AI/ML that analyzes data and identifies opportunities at onboarding as well as upsell/cross-sell to maximize that CLV and make the customer experience a seamless one. Intervene in an instant Centering customers doesn’t just apply to the ones who pay on time. The most successful BNPL provider can flag customers at risk for default and intervene quickly, before the first missed payment. Use built-in data integrations and powerful credit risk decisioning that learns as it goes, so it can identify changes in behavior and profiles that may indicate financial challenges. Work with these customers on payment plans or other options to prevent delinquency and keep the relationship in good standing.
With these core features, you’re ready to build BNPL technology that will stand the test of time.
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