FintechOS launches BNPL offering to help traditional institutions enter the booming market

By Joy Dumasia

FintechOS, the global leader in high-productivity FinTech infrastructure offering to the banking, insurance and retail industries, has launched new features that allow traditional institutions to create, customise and roll out their own Buy Now Pay Later (BNPL) product as well as additional embedded lending solutions.  

With experience helping banks and lenders build digital lending products, including a number of pioneering embedded finance projects in Europe, FintechOS is well placed to empower established financial brands to step outside the box of traditional payments and credit product definitions and tap into the booming BNPL market. 

As there are many parameters in constructing BNPL offers localised for a particular market and personalised to target customer segments, banks and lenders value a high degree of control and configuration to differentiate their offerings from competitors. Achieving success in this area will require a new-generation technology stack which doesn’t box innovators into a traditional personal loan or overdraft constraints. 

FintechOS’ open and low-code approach means that teams at institutions can build and edit BNPL and embedded lending products, customer journeys, and business automation logic in a single orchestration across its lean full-stack digital financial innovation platform. And they can do this without relying on complex code or buying new and expensive technology.  

Marcio Spinola, Chief Product Officer at FintechOS, said: “At FintechOS, we believe all banks and lenders should be leaning into the BNPL trend as a way of bringing in new generation customers, generating new sources of non-interest revenue via merchant fees, and diversifying the value proposition of their digital current accounts and payment wallets. However, many institutions are limited by their technology stack and the lack of control afforded to their digital teams. Our BNPL proposition addresses this problem by allowing traditional providers to create and iterate their own natively embeddable products and journeys. Rather than waiting for internal tech teams or external vendors, we are putting power into the hands of internal digital makers for the first time.”  

BNPL and embedded lending propositions created with FintechOS technology can be integrated into existing business administration systems or administered via fully configurable customer and staff portals. This ensures that the institution can run the complete lifecycle of BNPL lending and servicing in a highly tailored model while also benefiting from the scalability and performance of the underlying cloud-native SaaS-based technology stack.