skip to main content

First National Bank of Omaha Launches ‘Buy Now Pay Later’ Solution Enabling Partners to Offer Flexible Financing Options at the Point of Sale

Business Wire

First National Bank of Omaha (FNBO) today announced the launch of a breakthrough new buy-now-pay-later (BNPL) solution, which will allow merchant partners to offer their customers the option to make purchases and pay for them at a future date. To develop this full suite of point-of-sale financing solutions covering loans ranging from a few weeks to as long as 10 years, FNBO worked with EXL, a leading operations management and analytics company, and Skeps, a next generation point-of-sale (POS) loan originations platform, to build a quick and seamless integration with merchant partner online and brick-and-mortar stores.

“BNPL represents the future of retail, allowing consumers to make purchases using more accessible monthly installment payment plans,” said Jerry J. O’Flanagan, Executive Vice President of the Partner Customer Segment at FNBO. “By working with EXL and Skeps, we’ve been able to design a BNPL solution that integrates quickly and seamlessly into merchant partner workflows, providing consumers a variety of convenient financing options at the point of sale through instant processing and loan approval backed by FNBO.”

The FNBO BNPL solution is integrated directly into partner ecommerce websites and through QR codes and text for credit into partner’s brick-and-mortar locations to provide consumers with an option to purchase items immediately via an installment payment plan. FNBO was able to leverage the offering from EXL and Skeps for credit strategy execution, pre-approvals, back-end technology integration with merchant partner websites, fraud prevention, and know-your-customer (KYC) checks as well as loan servicing functions including digital payment assistance.

Source