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DUBLIN, May 17, 2022 /PRNewswire/ — The “Installment Lending: Fintechs Gaining Ground on Loans Forecast at $212 Billion“ report has been added to ResearchAndMarkets.com’s offering.
The report explains the state of consumer installment lending in the United States and how fintechs and finance companies now outpace banks and credit unions in installment loans. Furthermore, this research examines how companies are offering embedded finance products such as CCaaS to allow customers the ability to offer their own credit card product. By way of four evaluative criteria , general advice is provided for those seeking a relationship with a fintech provider.
“Banks used to dominate consumer lending, with installment lending products priced far lower than credit cards, but that is no longer the case,” comments Brian Rileyauthor of the research report. “Buy Now, Pay Later (BNPL) was a wake-up call to credit card issuers. BNPL was a recast of a merchant finance model used long ago by companies like GECC (now Synchrony) and Household Finance Corporation (acquired by Capital One). Now, fintechs…
Full story available on Benzinga.com
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