MaxDecisions successfully completes credit bureau reporting for major Buy Now Pay Later client

Plano, TX (Dec 22nd, 2020) – MaxDecicisons, a leader in lending analytics, predictive modeling and credit risk management, today announced it has won a contract for Metro2 credit bureau reporting on behalf of a premier U.S. based BNPL (Buy Now Pay Later) financing company.

Buy Now Pay Later – BNPL has been dominating how people shop in the United States and the rest of the world. Although point of sale or point of need financing isn nothing new, new FinTech players are creating a seamless check out process for shoppers to borrower and purchase within a few clicks. 

The likes of Affirm has paved the way for lenders and e-commerce companies to work together to push more sales by providing credit to those that can’t qualify for a credit card or don’t want to use their credit in the traditional sense.

BNPL companies also faces an interesting dilemma with the credit bureaus when it comes to credit bureau reporting. In some cases, BNPL players don’t want to call their services a loan because they aren’t charging a fee or interest on their financing options. However, credit bureaus sometime disagree with their assessment.

It often takes multiple conversations for both parties to agree on a specific way to report these “trade lines” into credit bureaus. It takes times to bridge the new world and the old world and play within the established rules set 40-50 years ago by various government agencies.

MaxDecisions is pleased to work with new FinTech players in this area and offer our solutions to help buy now pay later players to transform their data into CDIA’s Metro2 format and work with Experian, Equifax and TransUnion to facilitate monthly reporting.

About MaxDecisions

MaxDecisions Inc. is a leader in analytics, predictive modeling, and scoring technology. Founded in 2016, the company has experience explosive growth with over 80+ clients in Banking, Speciality Financing and FinTech companies across the US and Internationally. MaxDecisions™ strives to be the most trusted analytical firm. Please visit us at www.maxdecision.com

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