The Rise of Flexible Finance: How Not to Be Disenfranchised
Flexible financing solutions offered by challenger entities are on the rise and pose a threat of disenfranchisement for many banks. As we emerge from the COVID‑19 pandemic, demand for credit is likely to rise again and further accentuate the need for banks to operate more efficiently and consider the best form of credit for each of their customers.
Consumer payment and financing products have historically evolved within separate business lines of a bank, forcing customers to select how they want to fund a purchase (pay now or later) in advance. Now, new players are offering consumers a range of flexible financing options and new customer experiences before, after and at the point-of-sale.
Banks that respond quickly to this new challenge will be better positioned for future business and be part of this rapidly growing market segment.
This EMEA white paper is the second from our Future of Payments series. Download it now to understand how banks can meet the challenges associated with offering flexible financing solutions.