BNPL
Buy Now, Pay Later
BNPL is evolving – is your decisioning technology future-proof?
BNPL Lending Technology that Powers Accurate Decisions and Agile Growth
The BNPL industry is evolving. Acquisition at any cost is no longer a viable strategy. It’s time to shift into a future-proof mindset. The inflection point for providers to evolve is now.
The leading BNPL players are agile, prepared to make changes rapidly – whether to reflect market demand, new regulation, or new verticals – and prioritize risk management. And Provenir is here to help.
With Provenir, BNPL providers can pivot to profitability by building, launching, and iterating products that will work in any market, any vertical, and with any risk appetite.
Benefits
Pivot to profitability with future-proof tech and sustainable strategies
Easily manage and adjust your data-driven risk models for optimal default and fraud mitigation.
Flexible, business user-friendly tech prepares you for pending regulation and helps you attract the right customers.
Stay on top of your strategy with AI/ML-powered insights to optimize efficiency and scale up or down based on current or projected market conditions.
Integrate Data
With Provenir, you can rely on accurate credit risk decisions. Feed the best relevant data directly into your decisioning engine. Get rapid access to a range of alternative data including behavioral scores, telco, and more.
Simplify Onboarding
Whether onboarding new merchants or signing up customers at checkout, you need to create a seamless application experience that supports real-time KYC, mitigates fraud and powers accurate credit approvals. Use Provenir’s powerful onboarding automation tools to create a streamlined experience that helps you meet current – or future – compliance and audit requirements.
Automate Decisioning
Our lending technology creates a risk decisioning ecosystem that fully automates decisioning across the customer lifecycle, including credit line management, transaction approvals and collections strategies. With straight-through processing to power real-time decisioning, you can meet customers where they are without sacrificing risk.
Deploy, Learn, Iterate
In this rapidly evolving industry, you need the flexibility to iterate often and maximize performance. Provenir’s low-code UI is designed to support a rapid deploy, learn and iterate cycle, while advanced analytics help optimize strategy. Take control of the process and reduce reliance on vendors and IT.
Power Advanced Analytics
Provenir supports an incredible range of advanced analytics and machine learning tools. The model agnostic platform eliminates the recoding delays that slow you down by empowering your team to deploy models in R, Python, SparkML, TensorFlow, and more.
Accurate Decisions. Agile Platform. Future-Proof Technology.
Resources to dig a little deeper
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Questions
Frequently asked questions
Get the answers you need to ensure your BNPL platform continues to thrive.
Want to learn more?
Traditional credit scores often don’t cut it when it comes to BNPL customers. Look for a BNPL software platform that enables automated decisions based on real-time, on-demand data from a variety of data sources. To assess creditworthiness more holistically, without having to rely on a hard credit check, look for data platforms that can integrate alternative data sources, like payment history, employment data, spending habits, web presence, travel data and social media info.
Look for a BNPL software platform that enables easy-to-complete applications for your customers, while ensuring accurate, rapid credit decisions based on real-time data. Implement BNPL technology that can leverage advanced analytics like AI/ML, automation in decisioning processes, and a wide variety of easily integrated data sources.
Ensure your BNPL can easily access and integrate real-time data to detect and prevent fraud more effectively. Implement advanced fraud prevention measures with data sources that offer real-time identity verification, KYC data, and alternative data like web presence, social media, and telco data to enhance your fraud prevention strategy. Additionally, look at advanced analytics like artificial intelligence and machine learning to monitor data and minimize losses, while still providing consumers with a seamless buying experience.
As the legislation around BNPL technology changes, providers need to regularly update policies, processes, and workflows to maintain compliance with data protection, privacy, and consumer protection regulations. Cloud-based platforms with low-code UIs ensure processes can be easily changed as required and ensures that security protocols are updated regularly. Look for ISO certifications to be confident your BNPL platform remains compliant.