Speakers:
Gren Manuel, Journalism/Media Consultant
Helene Panzarino, Fintech Programme Director, The London Institute of Banking & Finance
Jonathan Westwood, Chief of Staff, Liberis
The use of buy now pay later (BNPL) schemes is accelerating across the world. According to a recent survey by Which?, around a third of the UK adult population have now used a BNPL scheme at least once. And it's not just young adults who are looking to keep up with the latest fashion trends.
Faced with being side-lined in the credit process, many banks are now also looking at B2B white label solutions to help them share in this growing market. The businesses leading the way in the sector are growing rapidly and have clearly caught the eye of investors with a number of generous funding rounds, and unicorns are emerging in this space.
While BNPL can be a useful alternative to other more costly sources of credit, some in the industry are expressing concern about the potential for consumers to become over-indebted and are calling for tighter regulation of the market. A call that the FCA are clearly heeding with an announcement earlier this year that they will introduce regulation aimed at the sector at some point in the future.
In the latest webinar from our Centre for Digital Banking & Finance, Helene Panzarino will be joined by Gren Manuel and Jonathan Westwood to explore the development of the BNPL market so far and discuss the factors that have supercharged its growth.
We'll be looking at the future potential and models for BNPL and how it might find ways to create further value for merchants, financial institutions, and customers. We'll also examine the potential risks of BNPL to consumers and what the providers are doing (or should be doing) to guard against them.
Finally, we'll ask the panel to share the views on what good regulation for the sector might look like and how can providers and the regulator work together to ensure positive consumer outcomes.