NewTech Friday: Credi2 – Offering a white label BNPL solution
Christian C. Waldheim is the Co-CEO of Credi2. He tells Qorus more about this Austrian fintech startup and its banking-as-a-service platform that allow banks and other companies to launch a Buy Now Pay Later (BNPL) solution within weeks.
Christian C. Waldheim is the Co-CEO of Credi2. He tells us more about this Austrian fintech startup and its banking-as-a-service platform that allow banks and other companies to luanch a Buy Now Pay Later (BNPL) solution within weeks.
What led to the creation of Credi2?
We started in 2015 with a B2C product called cashpresso, which has been run by Raiffeisen Bank International since 2018. From that point on, many financial institutions approached us expressing a need for flexible payment methods. It was a market-led demand and we have been able to deliver. We want to change the game in retail financing to get financial players (banks, PSPs, lenders) back into the game to compete against other BNPL fintechs, and give merchants a better financing instrument with a greater customer experience.
Could you present Credi2's offer?
Credi2 specializes in white label BNPL solutions and enables banks, merchants and OEMs to offer modern financing methods via the Credi2 platform, consisting of not only retail modules but also covering all banking functionalities such as risk management, KYC, collection, accounts, etc. In comparison to classic BNPL players, Credi2 offers a 360 degree 'pay-later' product range, going beyond split-pay and pay-per-invoice. The range includes installment loans, revolving credit and the new BNPL method subscription for durable and tech products. As a SaaS player, we are focusing on providing the most versatile white label BNPL platform to empower financial institutions to offer the best BNPL solution for their merchants. This product set-up makes us a role model for white label in the BNPL industry. Some of our clients include: Raiffeisen Bank International, Volkswagen Bank, Apple, and Deutsche Bank.
What's coming next for Credi2?
We are currently working on a payment project with Deutsche Bank. Together we are developing a solution for invoice and installment purchase ('Buy now, pay later' aka BNPL). The white label solution for online retailers and e-commerce marketplaces can be flexibly integrated into the payment process. The first pilot projects are scheduled to start in Germany by the end of this year.
Our goal is to become the leading white label ‘pay-later’ partner for banks, PSPs and issuers, expanding our reach to a further three EU countries within the next two years.
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