Banking API provider outfit Codebase Technologies has launched a white-label BNPL offering for banks, fintechs, lenders, and merchants.
With BNPL soaring in popularity over the last year, many banks and fintechs have begun scrambling to get in the game, taking on dedicated providers.
However, Codebase argues that until now, companies have faced two choices: build it from scratch or partner with an existing BNPL brand. The former is costly and time-consuming, while the latter can require a loss of control.
Codebase's answer is the new BNPL component of its Digibank platform, which is ready-made and can be fully customised to allow firms to launch a BNPL offering in a few months.
The product includes an integrated customer onboarding process, detailed data on customer financials and insights, automated decisioning across the customer lifecycle, customisable customer journeys, and more. The component is also core banking agnostic.
Raheel Iqbal, managing partner, Codebase, says: "BNPL providers are popping up worldwide and attracting huge numbers of customers, and banks especially are feeling the pressure. So, of course, they want to capitalize on this trend to compete and give customers better and easier ways to make purchases.
"Our BNPL solution gives them a way to address that and launch their own BNPL offering quickly and cost-effectively."