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Latest Webinar: The Role of Digital Wallets in Consumer Lending. Watch on demand →
Latest Webinar: The Role of Digital Wallets in Consumer Lending. Watch on demand →
As a white-labeled solution provider, many of our bank clients do not permit attribution.
The demand was not in question. Research the bank commissioned itself put numbers on what its customers wanted at the checkout counter.
What the bank could not do was serve that demand. Its in-house bespoke solution supported two merchant partnerships in total. Onboarding a single new merchant took 18 months on average, and each one required significant dedicated time and technical resources.
So the bank was losing loan volume and customers to fintechs at the point of sale. Not on price, and not on credit appetite. On the time it took to connect a merchant.
The requirement was narrow. Zero disruption to legacy systems, merchant onboarding that scaled without a project per merchant, and white-labeling deep enough that the bank's brand stayed on the product.
The bank deployed Jifiti's modular point-of-sale financing solution. The credit was the bank's own. The brand was the bank's own. What changed was the cost of adding a merchant, which moved from a bespoke integration to a repeatable configuration.
100% white-labeled. The bank’s identity, brand and control stay on the product
API connectivity with core financial systems, no legacy disruption
Multi-channel deployment, online and in store
Direct customer ownership and data retention guardrails
Standardized processes. No custom development per merchant
Instant origination and disbursement at the point of sale
Direct settlement to the merchant
The part that broke the 18-month ceiling was giving the bank two ways in rather than one. Merchants that need a deep integration still get one. Merchants that do not can go live without touching either side's systems.
The credit is the bank's own consumer lines of credit. Customer ownership and data retention stayed with the bank under contractual guardrails. Jifiti supplied the embedding layer, merchant onboarding, origination and disbursement, and settlement.
No change was made to the bank's legacy systems. Institutions that want a technology partner to hold the customer relationship, or to move the credit onto someone else's balance sheet, are not a fit for this configuration. Say so early and we will tell you the same on the first call.
The useful first conversation is a technical one. Let us know your current onboarding path and we will tell you what it takes to shorten it, including when the answer is that we are not the right fit.
