POINT OF SALE LENDING
Designed to help FIs supercharge their lending book of business by meeting
consumer expectations for easy access to immediate financing.
Point of Sale (POS) Lending as a Service by thirdstream helps FIs and their commercial clients focus on consumers seeking financing at the moment of sale both online and in-person. POS lending is proving to be the most profitable tactic available today to:
- grow an FI’s lending book of business
- cost effectively increase membership
- serve as the catalyst for expanding volume of commercial accounts
- help FIs capitalize on this fast-growing subset of personal lending
SATISFY CONSUMER EXPECTATIONS
Our POS lending as a service solution meets the expectations of the growing number of people who dislike credit cards but still want financing for their purchases. Customers can apply from their own device in-person or from an online vendor’s site. Approval for qualified applicants is in real-time and funding for the purchase is immediately deposited to their account. This 100% secure and frictionless user experience seamlessly integrates with merchants’ existing POS systems.
SUPER CHARGE YOUR LENDING BOOK OF BUSINESS
POS loans are a virtually untapped revenue channel for FIs. Not only does it deepen relationships with commercial clients, it boosts market outreach and significantly increases opportunities for cross-sell. Our solution is white-labelled to support an FI’s brand and Pre-Authorized Payment banking details are collected during the flow.
POS lending is the new frontier and our solution offers FIs the most advanced technology to tap it.
BENEFITS FOR FIs
diversify lending portfolio
expand range of services to existing commercial clients
attract business accounts by meeting specific targeted needs
convert consumers to retail members
manage loan risk tolerance
BENEFITS FOR MERCHANTS
increase location traffic and consumer engagement
introduce consumers to higher-value retail options
provide attractive credit options to consumers
approved funds are transferred to the merchant
BENEFITS FOR CONSUMERS
simple application pushed by merchants to personal mobile device
real-time adjudication and immediate funding upon approval
can choose repayment terms (i.e. 12, 24, 36 months)
can designate an existing account for repayment
What’s next for our platform?
With mobile and online technology moving at the speed of sound, the onboarding process is bound to be transformed by yet unknown innovation. There will be new APIs and technologies to integrate, the world will become increasingly social and there will be additional regulations to overcome. Evolution of this kind is exciting. And necessary. It challenges us to anticipate, prepare and position ourselves for what’s next for the financial services industry and for our company. For innovators like us, it’s pretty much what we live for.