Background
In today’s evolving retail landscape, businesses encounter a rapidly changing market that demands solutions capable of navigating intricate business logic. For banks’ retail partners, one of the main challenges contributing to customer churn is the absence of suitable financing options. As a result, consumers seek other retailers that provide straightforward, digitally integrated, and cost-effective financing solutions, fostering direct connections with customers rather than relying on external lenders.
KEY CHALLENGESBanks require a seamless and flexible solution to empower its retail partners with dynamic financing options. The challenges that they need to address are:
HOW ACP TACKLED THESE CHALLENGES HEAD ON
92%
180%
4x
Partner ACP – pACP, is part of Axe Finance’s embedded financing segment and a streamlined lending solution designed to deliver a seamless financing experience, whether in-store or online through the retailer’s e-commerce platforms (website or mobile app). With pACP, OTP empowered its Retail Partners to become true digital credit facilitators, opening new product channels and revenue streams. By facilitating quick loan disbursal directly at the Point of Sale (POS), pACP eliminates the necessity for protracted bank procedures, benefitting both businesses and customers alike with a simplified process.
ACP’s Service-Oriented Architecture (SOA) facilitates real-time interfacing with all internal third-party and external systems. pACP addressed the critical aspects of accurate creditworthiness assessment and regulatory compliance checks through its powerful set of APIs, ensuring seamless integration of data from various sources. This enables flawless risk mitigation through its comprehensive loan eligibility rules at OTP Moldova.
OTP and its partners benefit from omnichannel communications provided by pACP, which supports mobile push notifications for real-time updates on application status and transparent communication of rejection justifications.
