Point-of-sale lending technology is giving businesses new ways to offer customers financing at the moment they are considering a purchase. By connecting merchants with banks, credit unions, and other lenders through digital platforms, these solutions can provide consumers with real-time financing options while helping businesses increase sales and make higher-cost products and services more accessible.
Artis Technologies is applying this model through Artis Credit, an API-based platform that uses alternative data, machine learning, and artificial intelligence to generate personalized loan offers. The platform allows businesses to present financing under their own brand while connecting qualified borrowers with participating financial institutions.
Artis Technologies provides modern lending solutions for businesses to offer affordable, low-friction financing to their customers at the point of need. Today the company introduced Artis Credit, a platform for businesses to offer unique loan options direct-to-consumer with no start-up cost and minimal risk. It’s made possible by connecting financial institutions ready to provide financing through Artis’ API-based platform that uses alternative data sources, complex machine learning and AI to present real-time loan offers to individual borrowers.
When businesses partner with Artis, they connect with service providers able to extend unbiased credit to their customers on the spot; it’s a growing network of banks, credit unions, and lenders. Artis Credit equips businesses to be the face of that financing while giving lenders an easy pathway to gain a new share of the consumer loan market. The platform is ideal for many consumer-facing industries with higher cost products and services, including home improvement, HVAC, plumbing and landscape/hardscape, as well as elective medical, dental, manufacturing, auto repair and more.
Barclay Keith, CEO of Artis, said, “We understand that businesses everywhere need longer-term solutions to help sustain their presence in the community. Industries like home improvement and remodeling are continuing to show consumer demand, and they are a perfect example of how businesses can offer consumers low cost, real-time funding to make financial investments a reality through Artis Credit. Our approach also helps by providing integrated value chain technology to increase ticket size and sales by offering instant promotional financing.”
Artis Credit gives businesses a digital self-service portal to manage the full experience, from application to funding. Businesses select which type of loan to present to their customers during the onboarding process. Based on this selection and customer qualifications, the platform will generate offers. Artis ensures decisions remain unbiased by assigning a participating financial institution or lender after the consumer has accepted a loan offer. And, Artis works within a closed-looped payment network to control and protect all transactions, this helps to make sure loan funds are only spent with that business.
Financial institutions wanting to do more to influence the success of businesses in their communities can also consider Artis Connect, a complete private-label platform enabling them to offer downstream credit through existing business customer relationships – as such, helping drive demand for local goods and services.
Point-of-sale lending technology can create opportunities for merchants, consumers, and financial institutions alike. Businesses gain the ability to offer financing without developing their own lending infrastructure, consumers receive convenient access to credit at the point of need, and lenders can reach borrowers through new distribution channels.
Artis Credit combines these capabilities with real-time decisioning, a self-service platform, and a closed-loop payment network designed to ensure funds are used with the originating business. As embedded lending becomes more integrated into the purchasing experience, platforms that efficiently connect merchants with financial institutions could play an increasingly important role in consumer financing.
About Artis Technologies
Artis Technologies powers modern lending solutions for businesses to provide affordable, low-friction financing to their customers at the point of need. Its API-based platforms creatively leverage alternative data sources and ML/AI-informed decisioning to present real-time loan offers fit to each individual borrower, all done within the banking industry’s current regulatory infrastructure. Visit heyartis.com for more information.
