Ophelos partners with Buy Now Pay Later provider Butter
By Joy Dumasia
Ophelos, the technology firm building a fairer debt resolution process for businesses and their customers, announces that it has partnered with Butter the Buy Now Pay Later FinTech, allowing customers to split the cost of any purchase online and instore. Butter is also the UK’s only BNPL that enables customers to split the cost of their travel interest-free.
Ophelos will manage Butter’s late-stage collections process. Butter offers BNPL solutions for online lifestyle purchases and travel products; it is also the first of its kind in the UK, allowing customers to plan, book and pay for their holidays using flexible BNPL payment plans. With growing sensitivities around the use of BNPL products and rising consumer debt, Butter sought a tech-driven collections partner whose ethics around debt resolution was married with trust and fairness, of which Ophelos aligned perfectly.
Using proprietary AI & machine learning capabilities, Ophelos will help Butter determine the best way to connect with its customers before assisting them to resolve their debts in more manageable instalments through its personalised repayment plans. With machine learning technology that can help identify vulnerable individuals, Ophelos will also help Butter manage customers facing problem debt with an ethical-first approach.
Amon Ghaiumy, CEO and Co-Founder of Ophelos, said: “We are proud to be partnering with Butter – helping to provide a better way for customers to manage and resolve their debt. At Ophelos, we know that customer relationships mean everything to a business – building, nurturing and maintaining them – and that no relationship is without its challenges. Like us, Butter puts their customers at the heart of everything they do, offering flexibility and ease to customers through their BNPL products. Now, with our debt resolution technology and human-centric approach, Butter will be able to work with their customers to resolve any debt in a simple, personalised and empathetic way.”
Timothy Davis, Co-Founder and CEO of Butter, said: “Younger generations of tech-savvy consumers are showing us there is no slowing down on their willingness to seek new methods to spend. This shift in consumer habits comes with its challenges, and the BNPL sector has been working hard to increase the sector’s standard of relationship with the consumer. For Butter, the partnership with Ophelos made sense. We care and take time to understand our customers – so when they find themselves in financial difficulty, we want to offer a helping hand in how to resolve it. What Ophelos and Butter agree is that there must be more trust and transparency for responsible lending and to provide judgment-free help when customers do find themselves in difficulty.”
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