Bank Automation News’ Post

Point-of-sale financing as an alternative payment method is a growing opportunity for lenders; auto lender and Pagaya partner Ally Financial projects POS financing to reach a value of more than $81 billion by 2030. #POS #autofinance #autoindustry https://hubs.la/Q02DCHg-0

See our latest post explaining some of the key considerations when choosing a POS lending partner.

Hey there, readers! 🚀 Let's dive into some thrilling #fintech news that will revolutionize the way we shop and pay! 🌟 ChargeAfter, the wizard behind point-of-sale financing, is teaming up with Citi Pay from Citi Retail Services. Why is this a big deal? Well, imagine a world where fintech superstars and traditional banking giants join forces to sprinkle some extra magic on our payment experiences. Exciting, right? What's really cool is how ChargeAfter plays matchmaker between retailers, shoppers, and a whole bunch of lenders and financial products using a fancy data-driven engine. This means lightning-fast approvals and the power to pick the perfect financing deal tailor-made for your needs. Oh, and let's not forget how ChargeAfter seamlessly integrates with all sorts of point-of-sale systems—whether you're shopping in-store, online, or chatting with a sales rep over the phone—ensuring a smooth and secure lending journey every step of the way. I'm pretty sure this partnership is a win-win-win situation for ChargeAfter, Citi Pay, their amazing merchant partners, and all of us fabulous customers. 🌈✨ Can't help but wonder how this game-changer will shake up the world of POS financing. 🤔 Are we in for more mind-blowing innovations in this space? Hold onto your hats, folks, 'cause the future of payments just got a whole lot more exciting! 💸💳 Stay tuned for more awesome updates 👇

**LendAPI Platform Update v2.2.7 - v2.2.9** Hey folks, We’re excited to bring you three releases worth of updates and enhancements! Here’s what’s new: **Mortgage POS Expansion:** We are expanding into the Mortgage POS business. If you’re interested in using our product builder to build our Mortgage POS process, we’re offering 6 months of free monthly fees to help us navigate through some finer points of this new vertical. DM us or email us at [email protected]. We want to hear from you! **LendAPI’s Marketplace Expansion:** Our Marketplace is a gathering place where all the who’s who in the fintech space come together to do more business. If you’re interested in having your company listed, please DM us or email us. It’s always free, and we’ll do a few social media posts to help you get more business. We just like to help. **Feedback & Private Tours:** Have suggestions to improve our platform? Please email us. Want a private tour? We’re happy to show you around. **Updates:** **Overall Platform Updates:** - New application status nomenclature (v2.2.7) - Banking transactions per bank account (v2.2.7) - Application detail view shows sub-tenant name (v2.2.8) - More complex password requirements for all login pages (v2.2.8) **Product Studio:** - Fixed a minor issue when editing and adding new pages (v2.2.9) **Decision Studio:** - Faster variable listing view search results (v2.2.7) - Resolved bug with “>” operator/expression in derived variables (v2.2.7) - Full variable name in the search box when editing rules (v2.2.8) **Pricing Studio:** - N/A **Reports Studio:** - New report for passed and failed applications from any decision tree (v2.2.7) - Minor tweaks to sync status and time zone differences between server and browser time (v2.2.8) **Sub-Tenant Admin Features:** - N/A **Integration Partners:** - Integrated with TotalityLMS (v2.2.7) - Integrated with Decision Logic (v2.2.7) - Improved Prove integration logic (v2.2.7) - Resolved status issue in TotalityLMS API when an application is declined (v2.2.8) - Added Decision Logic variables to our variable library (v2.2.8) Stay tuned for more updates and improvements. Thank you for being a part of the LendAPI community! Best, The LendAPI Team https://lnkd.in/gtkrjJsH

Revolutionizing POS Financing: From BNPL to Empowering Embedded Lending in 2024 As the fintech landscape evolves, the synergy between banks and merchants in offering Point-of-Sale (POS) financing is becoming increasingly vital. A shift from short-term, quick-sale Buy Now, Pay Later (BNPL) models to a more strategic, long-term approach is underway. This transformation is driven by the need for consumer education in a high-interest environment and the demand for competitive loans that ensure consumer protection and responsible lending. Embedded lending emerges as a key player in 2024, offering consumers access to a variety of financial products tailored to their needs, thereby enabling significant life milestones and providing a solution to the pressing challenge of debt accumulation seen with BNPL services. Embedded lending not only facilitates access to responsible financing but also introduces a seamless integration into merchants' ecosystems, offering real-time financing options. This approach supports consumers across different credit profiles and purchase sizes, and is particularly beneficial for large-ticket items and services, enhancing customer loyalty and financial inclusivity. For the full article and the latest #Fintech news, in-depth articles, and podcasts head on over to our website!

As shoppers become more selective with their spending, providing flexible payment choices is a game-changer. 💳 🌟 Why do leading merchants choose ChargeAfter? Here are seven compelling reasons: 1️⃣ Seamless Omnichannel Financing 2️⃣ Expansive Network of Lenders 3️⃣ Improved KPIs 4️⃣ Easy Integration and Management 5️⃣ Actionable Analytics and Data 6️⃣ Unwavering Compliance and Security 7️⃣ White-Label Consumer Financing Mark Denman, our EVP of Merchant Sales and Success dives into the details here> https://lnkd.in/dZvgjCYe #FinTech #CustomerExperience #POS #ConsumerFinancing

One of the great things about my job is that I get to speak with merchants and POS lenders around the globe. This provides me with a unique perspective regarding what is important now and the focus for the future. It is clear from those interactions that embedded lending is the focus for now AND the future. Retailers are focused on providing a finance experience that is frictionless and provides offers that are customized for consumers. Consumers are choosing who they buy from based on the financing options that are provided. Embedded lending is more that just the latest "buzz" term. It will become the standard for driving growth and increasing consumer loyalty. https://lnkd.in/gK5us8Cu

Success is a plan. Unlock your business potential with Pay Compass. Payments | POS | Lending | Interchange | https://lnkd.in/deytPZRy PayCompass