Thus far, specialist Buy Now, Pay Later (BNPL) providers have dominated point-of-sale lending in the digital retail market, capitalizing on early-mover advantage to carve out a significant presence in the e-commerce landscape. But these specialists often rely on limited customer data when making lending decisions–an approach that has raised risk flags and drawn attention from the Consumer Financial Protection Bureau (CFPB).
This increased scrutiny of prevailing digital POS financing models could be a ripe opportunity for financial services players to get into the game, leveraging some key advantages to better serve one of the fastest-growing demand areas of financial services.
Unlike BNPL specialists, broader-based, financial services providers are able to draw on extensive customer financial data for more through underwriting. They’re also positioned to prioritize long-term customer well-being over short-term revenue, enabling them to take a more informed and responsible approach to pre-approved lending.
Join our highly interactive panel discussion to explore how your institution can seize the emerging opportunity. We’ll explain why financial services providers are perfectly poised to offer pay over time options and identify the steps necessary to capitalize on what could be a transformative market opportunity.