Skip to content

Information Age: How buy now pay later technology works


October 9, 2023 | Cassidy Belville

BNPL is here to stay. Bank of England figures suggest more than three million households in the UK owe £2.7 billion to BNPL lenders. Over £10 billion has been lent in the past three years. And it’s not just consumers using this payment method – 43% of European businesses have used BNPL to cover a business expense.  What is really astonishing is the accuracy of the lending. Default rates are a fraction of credit card lending, despite a similar user base. So, how do they do it?

In this Information Age article, Corinne Lleti, Director General of Southern Europe for Provenir, explains how BNPL providers use data, AI and ML to make more reliable decisions in a fraction of a second.

Latest Resources

BNPL, Decisioning

On-Demand: Anticipating Tomorrow: A dynamic approach to account management

As consumer debt and delinquency rates continue to rise, we are seeing loan loss provisions reach new heights ...

Maximizing AI/ML for Fraud and Risk Mitigation

Contact us for more info on Provenir’s robust, AI-powered fraud solutions. Learn More How to Harness Artificial Intelligence ...

Successful Digital Transformation in Financial Services

Contact us for more information on how Provenir can support your digital transformation journey. Contact Us Q&A with ...