“Complementing the recent launch of our BaaS embedded consumer lending proposition, we look forward to leveraging Jifiti’s best-in-class retail point-of-sale solution to give financial institutions a simple way to provide a seamless, embedded finance offering with a fully digital-first experience,” Kescenovitz said.
A key component of embedded finance
Jifiti called white-labeled BNPL a vital component of the fast-growing embedded finance space that financial institutions can easily use to embed split pay offerings online, in-store, and via call center.
The firm said its modular platform supports every point-of-sale financing option, including installment loans, lines of credit, split payments, and B2B financing. Because the platform is white-labeled, financial institutions and merchants retain total customer and data ownership.
“At Jifiti, we’re committed to facilitating responsible, accessible, and affordable financial solutions and have always regarded banks and financial institutions as the future of BNPL,” Martin said. “We’re excited to be working with Finastra to help financial institutions transform their consumer financing programs and promote their brands to end users at any point of sale.”
The firm said that financial institutions that work with Finastra already have a pre-integration of Jifiti’s platform.
Finastra said it is a global provider of financial software applications and marketplaces and launched an open platform called FusionFabric.cloud in 2017. It serves institutions of all sizes, with services across Lending, Payments, Treasury & Capital Markets, and Universal Banking. It said it has the trust of ~8,600 institutions.
Jifiti point-of-sale financier for banks, lenders, and merchants. Its BNPL platform provides banks and lenders with the technology to deploy and scale their consumer loan programs at any point of sale – online, in-store, and via a call center. Jifiti provides end-to-end point-of-sale financing solutions to global brands. Jifiti works with Mastercard, Citizens Bank, CaixaBank, Credit Agricole, and retailers such as IKEA, Walmart, and others worldwide.
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