Issuing-side credit has remained virtually unchanged since its inception. But there’s a revolution coming. Neocredit and pseudo-credit offerings like Buy Now, Pay Later (BNPL) and Earned Wage Access (EWA) are gaining momentum. The result? Consumers and workers are adopting neocredit offerings at a record pace – and they want more. Qolo helps clients differentiate with one platform to create unique pseudo-credit, lending, and other credit products built for the future.
The growing demand for innovative offerings like EWA (on-demand pay) and BNPL will only increase as people continue to desire financial flexibility and the power to decide how and when they want to pay and be paid.
To successfully compete within the digital banking space, you must match pace with quickly changing consumer needs – including matching flexible credit products with traditional challenger bank offerings.