Partnership
Open Banking: Pledg and Budget Insight together to democratize BNPL environment technologies
Paris, October 11, 2022: French fintech Pledg, a specialist in payment facility solutions (Buy Now Pay Later), signs a partnership with Budget Insight, the French leader in financial data aggregation and a pioneer in the Open Finance sector in Europe.
Todate, this partnership answers the problem of managing the insolvency risks of the customers of Pledg's partner merchants in France, and is intended to be international.
Moreover, by opting for Budget Insight's Bank product, which covers the banking data of more than 2000 European financial institutions via Open Banking, Pledg can know the solvency of a buyer in less than a minute, and thus grant him financing (fractional or deferred payment) via his financier without affecting the fluidity of his customer journey.
Todate, this partnership answers the problem of managing the insolvency risks of the customers of Pledg's partner merchants in France, and is intended to be international.
Moreover, by opting for Budget Insight's Bank product, which covers the banking data of more than 2000 European financial institutions via Open Banking, Pledg can know the solvency of a buyer in less than a minute, and thus grant him financing (fractional or deferred payment) via his financier without affecting the fluidity of his customer journey.
"Thanks to Budget Insight's Bank product, we are able to retrieve forgery-proof data from a buyer's bank account(s) extremely quickly, which helps the merchant decide whether or not to grant the buyer payment in instalments, and to send a response to the buyer in a very short time. Moreover, the technology and the ease of integration of Budget Insight's systems were particularly appealing to us," says Nicolas Pelletier, CEO of Pledg.
Extend the Open-Finance and payment experience further. Thanks to the path developed by Budget Insight, the customer experience is even more fluid and transparent. From the merchant's website, customers are redirected to their banking application to instantly certify their creditworthiness.
"This technology partnership confirms the relevance and strength of our technologies in the field of fractional and deferred payments, a use case that has been very successful lately. We are very pleased with the progress we have made with Pledg and look forward to the challenges we will face together," says Bertrand Jeannet, CEO of Budget Insight.
About Pledg
Pledgis a French fintech created in 2016 by Nicolas Pelletier with the aim of making payment easier. It provides merchants with simple, fluid, digital Buy Now Pay Later financing solutions adapted to each merchant context. These options - payment in instalments, after delivery, shared, or deferred - optimize conversion and sales while offering an innovative shopping experience to consumers. Pledg is aimed at B2C/B2B companies (e-commerce sites, marketplaces, physical stores), and at financial institutions wishing to launch their own SaaS payment facilities solution.
Some key information:
-Pledg has already raised €1.2 million in 2017 and €80 million in 2021.
- The company has 45+ employees and 400+ major accounts such as Corsair, Decathlon, Almé, Carrefour Voyages and LiveMentor.
- In 2022, Pledg ranks 6th in the list of the most successful start-ups in French Tech, according to Capital Magazine.
- With a score of 4.43/5, it is labeled HappyAtWorkⓇ2022. A label awarded by ChooseMyCompany that rewards companies where employees are the most engaged and motivated.
- Pledg receives in 2022 the Fintech certification from Finance Innovation, which rewards the most innovative projects in French finance.
About Budget Insight
Budget Insight is an Open Finance platform. It provides access to rich data and instant payments for more than 230 financial services players, with European coverage that extends to more than 30 countries. Its unified API goes far beyond current account data and PSD2-compliant transactions, offering access to loan, savings, investment and crypto account data, among others, but also automating the collection of bills and receipts. As a result, Budget Insight products help create better embedded finance experiences and more powerful apps.
https://www.budget-insight.com/
Pledgis a French fintech created in 2016 by Nicolas Pelletier with the aim of making payment easier. It provides merchants with simple, fluid, digital Buy Now Pay Later financing solutions adapted to each merchant context. These options - payment in instalments, after delivery, shared, or deferred - optimize conversion and sales while offering an innovative shopping experience to consumers. Pledg is aimed at B2C/B2B companies (e-commerce sites, marketplaces, physical stores), and at financial institutions wishing to launch their own SaaS payment facilities solution.
Some key information:
-Pledg has already raised €1.2 million in 2017 and €80 million in 2021.
- The company has 45+ employees and 400+ major accounts such as Corsair, Decathlon, Almé, Carrefour Voyages and LiveMentor.
- In 2022, Pledg ranks 6th in the list of the most successful start-ups in French Tech, according to Capital Magazine.
- With a score of 4.43/5, it is labeled HappyAtWorkⓇ2022. A label awarded by ChooseMyCompany that rewards companies where employees are the most engaged and motivated.
- Pledg receives in 2022 the Fintech certification from Finance Innovation, which rewards the most innovative projects in French finance.
About Budget Insight
Budget Insight is an Open Finance platform. It provides access to rich data and instant payments for more than 230 financial services players, with European coverage that extends to more than 30 countries. Its unified API goes far beyond current account data and PSD2-compliant transactions, offering access to loan, savings, investment and crypto account data, among others, but also automating the collection of bills and receipts. As a result, Budget Insight products help create better embedded finance experiences and more powerful apps.
https://www.budget-insight.com/