Deko, the Buy Now Pay Later (BNPL) platform, has launched its latest version of the fully managed end-to-end checkout finance product in the UK. The solution is the fourth iteration of Deko’s flagship software, which was built with over a decade of expertise in delivering embedded credit solutions for retailers. The enhanced version features best-in-class user experience (UX) that was developed by Deko’s in-house product design team. The new solution combines the best checkout finance design insights from Deko’s rich heritage in point-of-sale lending, and consumers can breeze through loan application requirements quickly and clearly with minimal fuss.
Deko has implemented their exclusive multi-lender technology into a cutting-edge architecture that features a flexible and modular workflow engine and lender integration layer. This technology enables a streamlined application experience for consumers, where different lender application forms and data entry requirements appear in a single, consistent journey. The platform enables ‘in principle’ lender eligibility decisions in seconds and a full loan completion experience, including collection of bank details and e-signing, all within checkout.
The latest version of the checkout technology allows merchants to instantly embed finance details and offers on individual product pages using a rapid integration library. The technology also comes with a companion finance calculator that can be launched to help customers browse loan options and convert more customers, thus increasing basket sizes. Additionally, Deko’s new solution delivers rapid customer outcomes for consumers and merchants alike, backed by a new dedicated retailer dashboard that enables retailers to view, search, manage, and export applications quickly and easily.
Rob Fernandes, Chief Product Officer at Deko, said that the company’s latest technology acts as a toolkit to lower levels of cart abandonment. The new technology reassures customers of their finance eligibility and better directs them through a consistent application experience. “As BNPL and checkout finance continue to grow market share in the UK, we have developed this new version of our technology to help retailers drive customer conversion and grow order values, irrespective of their lender,” he added.
Deko’s latest version of the checkout software provides unprecedented focus on user experience, including presentation, language, and accessibility for all types of users. Over 20 of the top eCommerce platforms are integrated into the platform right out of the box. Deko believes that it has delivered the most responsive embedded finance experience for both consumers and merchants, ensuring that the company maintains its reputation for both innovation and optimization.
Overall, Deko’s fourth iteration of its fully managed end-to-end checkout finance product is expected to revolutionize BNPL and checkout finance in the UK, driving customer conversion and order values, and reducing cart abandonment. The latest technology is an essential toolkit for retailers looking to offer an enhanced finance experience to consumers, and it is a fully managed, end-to-end solution inclusive of marketing, purchasing, and loan completion.