One of the major reasons BNPL\u2019s popularity has grown so rapidly is its broad accessibility. Consumers don\u2019t have to pay interest, and some providers don\u2019t even charge late fees for missed payments. The risk checkpoints that have historically acted as barriers for the credit unserved or underserved no longer exist. And without the data and risk technology in place to fill in those gaps, delinquency can and will happen. And it\u2019s happening at a rate of 2.39%, up from 1.83% in 2020, according to\u00a0a recent report<\/a>\u00a0by The Consumer Financial Protection Bureau.<\/p>\n <\/p>\n In this Finextra<\/a> exclusive, Kathy Stares<\/a>, Executive Vice President, North America for Provenir, outlines the economic factors fueling BNPL usage and what BNPL providers can do to mitigate risk in these highly volatile times.<\/p>\n <\/p>“,”margin”:”default”}},{“type”:”button”,”props”:{“grid_column_gap”:”small”,”grid_row_gap”:”small”,”margin”:”medium”,”text_align”:”center”},”children”:[{“type”:”button_item”,”props”:{“button_style”:”default”,”content”:”Read Now”,”icon_align”:”left”,”link”:”https:\/\/www.finextra.com\/blogposting\/25621\/preparing-for-the-next-evolution-of-buy-now-pay-laterand-beyond”}}]}]},{“type”:”column”,”props”:{“image_position”:”center-center”,”padding”:”small”,”position_sticky”:”row”,”position_sticky_breakpoint”:”m”,”position_sticky_offset”:”100″,”style”:”card-default”,”width_medium”:”1-3″},”children”:[{“type”:”headline”,”props”:{“content”:”The Ultimate Guide to Decision Engines”,”text_align”:”center”,”title_color”:”success”,”title_element”:”h3″,”title_style”:”h3″}},{“type”:”text”,”props”:{“column_breakpoint”:”m”,”content”:” What is a decision engine and how does it help your business processes?<\/p>“,”margin”:”default”,”text_align”:”center”}},{“type”:”button”,”props”:{“grid_column_gap”:”small”,”grid_row_gap”:””,”margin”:””,”margin_remove_bottom”:false,”maxwidth”:”medium”,”text_align”:”center”},”children”:[{“type”:”button_item”,”props”:{“button_style”:”default”,”content”:”Learn More”,”icon”:””,”icon_align”:”left”,”link”:”\/blog\/the-ultimate-guide-to-decision-engines\/”}}]}]}],”props”:{“layout”:”2-3,1-3″}}]},{“type”:”section”,”props”:{“image_position”:”center-center”,”style”:”secondary”,”title_breakpoint”:”xl”,”title_position”:”top-left”,”title_rotation”:”left”,”vertical_align”:””,”width”:”default”},”children”:[{“type”:”row”,”children”:[{“type”:”column”,”props”:{“image_position”:”center-center”,”position_sticky_breakpoint”:”m”},”children”:[{“type”:”divider”,”props”:{“divider_element”:”hr”}},{“type”:”headline”,”props”:{“content”:”LATEST NEWS”,”title_color”:”background”,”title_element”:”h1″,”title_style”:”text-large”}},{“type”:”grid”,”props”:{“content_column_breakpoint”:”m”,”filter_align”:”left”,”filter_all”:true,”filter_grid_breakpoint”:”m”,”filter_grid_width”:”auto”,”filter_position”:”top”,”filter_style”:”tab”,”grid_column_align”:false,”grid_default”:”auto”,”grid_divider”:true,”grid_large”:”3″,”grid_medium”:”3″,”grid_parallax_justify”:true,”grid_row_align”:false,”grid_xlarge”:”3″,”icon_width”:80,”image_align”:”top”,”image_grid_breakpoint”:”m”,”image_grid_width”:”1-2″,”image_link”:true,”image_svg_color”:”emphasis”,”image_transition”:”scale-up”,”image_transition_border”:false,”item_animation”:true,”link_size”:”small”,”link_style”:”default”,”link_text”:”Read more”,”margin”:”default”,”meta_align”:”below-title”,”meta_element”:”div”,”meta_style”:”text-meta”,”show_content”:true,”show_image”:true,”show_link”:true,”show_meta”:true,”show_title”:true,”title_align”:”top”,”title_color”:”success”,”title_element”:”h3″,”title_grid_breakpoint”:”m”,”title_grid_width”:”1-2″,”title_hover_style”:”reset”,”title_link”:true},”children”:[{“type”:”grid_item”,”source”:{“query”:{“name”:”posts.customPosts”,”arguments”:{“terms”:[52],”category_operator”:”IN”,”post_tag_operator”:”IN”,”users”:[],”users_operator”:”IN”,”offset”:0,”limit”:3,”order”:”date”,”order_direction”:”DESC”,”industry_operator”:”IN”,”language_operator”:”IN”,”resources_operator”:”IN”}},”props”:{“_condition”:{“filters”:{“condition”:”!!”},”name”:”author.name”},”title”:{“filters”:{“search”:””},”name”:”title”},”content”:{“filters”:{“search”:””,”limit”:100},”name”:”excerpt”},”image”:{“filters”:{“search”:””},”name”:”featuredImage.url”},”link”:{“filters”:{“search”:””},”name”:”link”}}}}]}]}]}]}],”version”:”4.4.1″} –>
Mind the Gap: The Need for Speedy, Accessible SME Lending in North America
Mind the Gap: The Need for Speedy, Accessible SME Lending in North America
Small-to-Medium Enterprises (SMEs) are the champions of economy, representing 90% of all businesses worldwide and providing more than 50% of employment. But despite their essential role, 40% of global SMEs don’t have access to the funding they need to operate. In North America, that figure encompasses roughly 41% of small-to-medium sized businesses.
That leaves a global $5.2 trillion funding gap that could help both businesses and lenders grow.
So why hasn’t this opportunity been seized? Examine the biggest challenges facing SME lenders and discover the solutions that will help bridge the gap in our ebook, Mind the Gap: The Need for Speedy, Accessible SME Lending.
Uncover how you can tap into diverse lending opportunities and implement the technology to:
- Simplify lending applications
- Power more accurate decisions
- Increase agility and flexibility
- Future-proof your processes
Ready for speedy, accessible SME lending?
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