To seize the BNPL opportunity you need to rapidly deliver the embedded lending experiences that consumers demand. Temenos for BNPL enables you to extend variable instalment loans as an embedded service for merchant and retail customers, or to convert prior purchases into pay later agreements.
BNPL – Why now?
Banks are already down $10bn as specialist Buy Now Pay Later players have entered the market. What are the challenges, opportunities, and potential rewards for lenders who can move fast?
Temenos for BNPL is a SaaS-first solution that empowers you to deliver embedded Lending experiences, fast. Available on the Temenos Banking Cloud, the service combines Temenos’ proven credit processing capabilities and explainable AI credit decision engine for real-time credit recommendations. The result? Lower credit risk, more responsible lending and an elastically scalable service that grows with your business.
This short demo explores the value and benefits of Temenos for Buy Now Pay Later. PayArrow Bank walks through the challenges of finding a suitable solution and the benefits of a modern solution, including seamless and fast merchant integration, responsible lending with XAI, a pay later solution for existing customers and fast time to market with the Temenos Banking Cloud.
Find out from our experts how Temenos Buy Now Pay Later and Pay Later are different. Ask them to show you how we use Explainable AI to optimise provision of credit and helps promote responsible lending.
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Wondering how you’ll adapt to inevitable Buy Now Pay Later regulations, how to drive banking-as-a-service revenue and how long it will take to integrate with merchants?
Join experts at Temenos as we demo our Buy Now Pay Later solution and cover all these questions and more.
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Buy Now Pay Later is one of the most widespread and successful examples of the growth of Banking-as-a-Service, which allows for banking and payment services to be embedded into the broader commercial ecosystem. For Buy Now Pay Later this usually means retail merchant stores.
The use of Artificial Intelligence in the financial services sector has grown exponentially in the last decade. Banks are now implementing the technology across a range of innovative use-cases. A new survey of IT executives in banking, conducted by The Economist Intelligence Unit in partnership with Temenos, finds that 85 per cent have a “clear strategy” for adopting AI to develop new products and services.
The UK Government announced a review into buy now, pay later (BNPL) that will run into January. Two of the main issues being considered by the review are how providers assess creditworthiness; and the need to provide clear information to consumers about the risks involved.