Plend, the devoted B Corp private lender within the UK, has launched an embedded credit score API enabling companion organisations to supply their customers inexpensive and sustainable credit score straight.
Plend is aiming to broaden entry to credit score for over 20 million adults within the UK who’re held again by outdated credit score scores and infrastructure. The brand new ‘powered by Plend’ API allows organisations, customer-facing platforms, and establishments to embed inexpensive and longer-term credit score choices inside their current consumer journeys.
The API allows companies to combine inexpensive and longer-term credit score right into a third-party buyer journey or at point-of-sale. Plend additionally defined it’s going to present the complete onboarding, regulatory, funds and funding required for the shopper journey.
The ‘powered by Plend’ API concurrently runs a completely automated KYC, fraud and credit score evaluation in beneath 10 seconds, enabling high-quality buyer experiences, alongside greater acceptance charges.
“‘Powered by Plend’ is the following evolution in our mission to increase entry to honest and inexpensive credit score,” defined Robert Pasco, co-founder and CEO of Plend. “We now empower companies to help their customers with an inexpensive and longer-term various to BNPL, straight inside their platform or app journey. With Plend, our companions know their prospects are receiving the very best high quality help and outcomes from a B Corp Licensed moral supplier, benefitting each their prospects and the broader group.
“How individuals use credit score is altering quickly; the soar in BNPL utilization is an instance of fixing buyer habits for point-of-sale financing. It’s vital that prospects have moral alternate options accessible for extra advanced life occasions, and with the powered by Plend API, we are able to be certain that companies will be capable of positively impression their communities, fostering inclusivity whereas nonetheless driving development.”
Assessing actual spending habits
Plend utilises a proprietary credit score danger engine, ‘The PLEND Rating’, to handle inherent flaws within the conventional credit score system. Presently, over 20 million adults within the UK battle to entry inexpensive credit score as a consequence of inaccurate or invisible conventional credit score recordsdata.
The PLEND Rating leverages customer-verified information from open banking to evaluate their actual spending habits and affordability, offering a extra inclusive various.
Plend offers high-quality buyer care, in addition to moral wrap-around help to make sure that buyer outcomes are each sustainable and accountable.
