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Buy Now, Pay Later

Seamless, transparent onboarding with Open Banking

Regulation is coming and now, more than ever, it's imperative for Buy Now, Pay Later providers to get on the path towards compliance. Adopt the technology you need to tighten your onboarding process without compromising on user experience. Download the solution guide below to learn more. 

 

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Bud's BNPL affordability solution provides everything BNPL providers need to mitigate the risk of fraud,  conduct fast, transparent affordability checks and maintain a seamless user experience in the process.

"We expect to see the final shape of regulation by May 2022"

- read our guide to Open Banking for BNPL providers here

BNPL's rapid rise and soft credit checks have become a "honeypot for fraudsters"

- BBC News 2021 

Open Banking affordability checks for Buy Now, Pay Later

How Bud preserves your seamless UX

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How it works

Bud helps Buy Now, Pay Later providers to address the challenges posed by regulatory compliance and assess affordability. 

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Point of Sale
Customer connects to Open Banking. This takes 3 clicks and < 10 seconds
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Verification
The system addresses the risk of account takeover fraud by verifying ownership of the account at the point of sale.
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Affordability check
Income, priority spending, commitments to other BNPL providers are assessed based on the customers transaction data
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Checkout
The decision is reached based on your affordability scorecard. The customer checks out.
2021 Beyond Open Banking Module
2021 BEYOND OPEN BANKING REPORT

In 2020, as many as 80% of rejected applicants could have been accepted if the provider had better data. Get our latest report to find out more.

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Key features at a glance

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Real-time account verification addresses the risk of account takeover fraud.
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Identify customers' commitments with other BNPL providers
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Flag high-risk markers like income instability and gambling expenditure
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Enables configurable scorecards that allow affordability decisions to be made in seconds
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Static reports for audit and compliance
Our Customers

What our customers are saying about Bud

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Importantly, the functionality Bud provides will also enable us to continue to meet our responsibilities as a responsible lender, without compromising customer experience.
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Mike Bullock
Chief Information Officer, ANZ NZ
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Our new partnership with Bud marks a significant step forward in our campaign for greater transparency, providing us with a wealth of insight that gives customers more power over their financial future.
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Ziad Al Baba
General Manager UK and Canada, Credit Karma
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Affordability for BNPL providers

Download the solution guide to learn how to get your affordability project in motion.

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