Banking API provider outfit Codebase Technologies has launched a white-label BNPL offering for banks, fintechs, lenders, and merchants.
As the popularity of BNPL has grown over the past year, many banks and fintech have begun to try to get into the game by taking on dedicated players.
Thus, Codebase claims that companies have so far faced two choices: build from scratch or cooperate with the existing BNPL brand. The former is expensive and time-consuming, while the latter may require the loss of control.
The Codebase solution is a new BNPL component of the Digibank platform that is ready to be developed and fully integrated so that companies can start offering BNPL in a few months.
The product includes an integrated customer input process, comprehensive data on customer costs and information, automated choices in the customer’s life, travel by a potential customer, and more. It is also part of the banking agnostic.
Raeb Iqbal, co-CEO of Codebase, says: “BNPL’s providers come from all over the world and attract a lot of customers, and banks, in particular, are under pressure. So, of course, they want to use these systems to compete and offer better customers.
“Our BNPL solution gives them the opportunity to improve, and launching BNPL will ensure a fast and cost-effective offer.”