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Business Reporter: The added value that banks can bring to the BNPL market

How configurable solutions can enable incumbents to carve out a share of a maturing market

LONDON, UNITED KINGDOM, May 31, 2022 /EINPresswire.com/ -- In a video published on Business Reporter, Adam Hughes, CEO of Amount, a financial technology firm, explains how flexible and configurable BNPL (Buy Now Pay Later) products provide incumbent banks with an opportunity to enter the market that until recently has been the domain of fintechs. Although the BNPL market has grown dynamically for the last coupe of years, it’s far from being saturated. Although these products are closely associated with start-ups, incumbent banks are well-positioned to launch their own BNPL products offering more flexibility for their customers. Surveys also show that 70 per cent of customers who use fintechs’ BNPL solutions would be happy to see their own banks offering similar services.

With Amount’s customizable modular platform banks can get BNPL products out to the market in the matter of months offering better deals to merchants than some of the fintechs thanks to their lower cost of capital and wealth of customer data. Having to comply with stringent financial regulations, banks can also give credibility to a service that is often seen as risky and disruptive, as well as capitalise on their compliance expertise. Moreover, Amount’s offering is a white label product, and therefore merchants can embed it seamlessly into their branding. Amount’s versatile product offers 20 different pathways to designing a BNPL product to help accommodate clients’ varied needs.

To learn more about the deployment of Amount’s BNPL solution, watch the video.


About Business Reporter

Business Reporter is an award-winning company producing supplements published in The Guardian and City AM, as well as content published on Business Reporter online hubs on Bloomberg.com, Independent.com, Business Insider Germany and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.

www.business-reporter.co.uk

About Amount

Amount helps financial institutions make banking simpler, safer and more convenient with a full suite of end-to-end omnichannel consumer, small business and BNPL solutions. Developed by lending industry experts, Amount’s fully integrated and flexible platform is underpinned by enterprise bank-grade infrastructure and compliance, enabling banks to securely power new and differentiated offerings within months — not years. With Amount, banks can optimize performance across product categories while tapping into various service offerings including customer acquisition, funnel and performance assessments, and risk analytics. Amount clients include financial institutions collectively managing just over $3.1T in US assets and servicing more than 50 million U.S. customers.


www.amount.com

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