BANKINGSTACK
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BANKINGSTACK is a part of Open Financial Technologies, Asia’s leading digital banking fintech, powering 2.5 million businesses through our suite of cloud native digital banking products.
Stories (2)
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B2B BNPL: Embedding Banks Within The Supply Chain
Fintech-enabled B2B buy-now-pay-later (BNPL) has been gaining in attention significantly since last year. Nothing like its consumer-focused counterpart, and not really a new product in itself, B2B BNPL is finding traction as it solves the critical problem of access to supply chain finance, especially for small and medium businesses (SMBs). Embedded within the payments experience, B2B BNPL is collateral-free, short-term credit, which allows sellers to access payments immediately, while allowing buyers to improve their inventory turnover ratios. Repayment terms being offered by fintech platforms vary vastly across industries, ranging from a fortnight to a year, based on convention. But the key innovation underlying B2B BNPL is the seamless, completely digital credit-risk assessment model that makes all of this possible.
By BANKINGSTACK3 years ago in Journal
The Need to Reboot Digital Banking for Small & Medium BusinessesUntitled part
Small and Medium Businesses (SMBs) make up an essential value pool for the banking and financial services industry, accounting for more than 90% of all companies and more than 50% of jobs worldwide. According to a 2019 report by McKinsey, SMBs account for a whopping USD 850 billion of annual revenue for banks globally, with an expected growth rate of 7% annually over the next seven years. Even after the severe impact of the pandemic, the annual SMB revenue opportunity for banks would be very close to the trillion-dollar mark by now.
By BANKINGSTACK3 years ago in Families
