Germany-based fintech GreenBanana has launched its BNPL platform, blplx.io, to optimize the retail sector for both merchants and customers. The platform connects merchants and BNPL providers in over 25 countries using a single API and intelligent routing. It supports SMEs and international enterprise retailers, allowing them to choose the right provider more easily and at scale. The platform uses machine learning to route transactions in real-time to the most suitable providers, ensuring an optimal customer experience and increasing merchant approval rates. BNPL is an evolving payment solution in Germany, with the market expected to grow by 11.7% annually to reach USD 69.55 billion by 2025.
Credit risk transfers comes to complex CRE loans helping banks lower the concentration risk and improve the bank’s CRE ratio, converting a portion of loan portfolio into marketable securities
A financial tool that has made waves in recent years could resurge with a different purpose. As scrutiny of lenders with high concentrations in commercial real estate loans continues, credit risk transfers could offer a way out for the banks. Banks have used the financial instruments for years to free up room on their balance sheets, and the transactions became more popular in the U.S. in 2023, when regulators seemed poised to increase capital requirements. Now, the potential burden of stricter capital rules seems to be in the rearview mirror, but the risks associated with large exposures to commercial real estate loans remain under the regulatory microscope. Credit risk transfers could be a strategy for banks to bring down their concentrations in those assets. Last month, Third Coast Bank in Texas struck a $200 million securitization secured by interests in a portfolio of loans to finance the construction of 11 residential planned communities across Houston, Dallas and Austin. EJF Capital, a global asset management firm, structured the transaction to transfer the risk from the bank’s balance sheet. Bart Caraway, president and CEO of Third Coast, called the $5 billion-asset company’s first securitization “a landmark achievement” in a prepared statement at the time. The transaction should “improve the diversity of the bank’s on-balance sheet loan portfolio.” “By converting a portion of our loan portfolio into marketable securities, we have not only reduced our concentration in commercial real estate, a key focus for regulators and source of potential risk, but also improved our risk-based capital ratios,” Caraway said last month. “The securitization allows us to redeploy capital more effectively into new lending opportunities.” While prior credit risk transfers were focused on solving for a bank’s total amount of capital, the novelty of the Third Coast deal was its goal of reducing the bank’s CRE ratio, said Matthew Bisanz, a bank lawyer at Mayer Brown, which represented EJF in the deal. Before Third Coast’s recent deal, its CRE exposure was around 350% of capital. The transaction brought that ratio down some 10 to 25 basis points, Chief Financial Officer John McWhorter said. Third Coast is also deep in construction and development lending — an area that regulators see as risky if concentrations exceed 100% of total capital. As of the first quarter, the Texas bank’s ratio was 146%. The deal with EJF helped reduce that metric to near 130%, Third Coast’s CFO said. The Texas bank may consider future securitizations, depending on investor demand, McWhorter added. But credit risk transfer deals, especially those focused on bringing down CRE exposures, are far from ubiquitous.
Walgreens micro-fulfillment centers that use prescription fulfilemt robots generated approximately $500 million in savings by cutting excess inventory and boosting efficiency
Walgreens is expanding the number of its retail stores served by its micro-fulfillment centers as it works to turn itself around and prepares to go private. Those centers use robots to fill thousands of prescriptions for patients who take medications to manage or treat diabetes, high blood pressure or other conditions. Relying on those centers frees up time for pharmacy staff, reducing their routine tasks, eliminating inventory waste and allowing them to interact directly with patients and perform more clinical services such as vaccinations and testing. The centers offer Walgreens a competitive edge, as independent pharmacies and some rivals don’t provide centralized support for their stores. Walgreens aims to free up time for pharmacy staff, reducing their routine tasks and eliminating inventory waste. Walgreens hopes to have its 11 micro-fulfillment centers serve more than 5,000 stores by the end of the year, up from 4,800 in February and 4,300 in October 2023. As of February, the centers handled 40% of the prescription volume on average at supported pharmacies, according to Walgreens. That translates to around 16 million prescriptions filled each month across the different sites. To date, micro-fulfillment centers have generated approximately $500 million in savings by cutting excess inventory and boosting efficiency, said Kayla Heffington, Walgreens’ pharmacy operating model vice president. Heffington added that stores using the facilities are administering 40% more vaccines than those that aren’t.
Mastercard partners broker to offer Business Bonus Scheme small business owners access to personalized advice from expert mortgage advisers on their end-to-end mortgage needs in one streamlined, digital journey
Habito has partnered with Mastercard’s Business Bonus Scheme to make mortgage support faster, simpler, and completely free for SME owners across the UK. Business owners will now be able to access Habito’s team of expert mortgage advisers at no cost, whether they’re buying a home, refinancing, or investing in a rental property. The goal? To give entrepreneurs the clarity and support they need to make confident decisions, without jargon or unnecessary paperwork. This partnership means Mastercard Business Bonus Scheme members can explore a huge range of mortgage options through Habito’s platform, get personalised help from qualified advisers, and secure deals that match their unique circumstances, all in one streamlined, digital journey. Ying Tan, CEO of Habito, said:“We couldn’t be more excited to partner with Mastercard to support the UK’s business community. Running a business is hard enough. Your mortgage shouldn’t be. SME owners deserve smart, reliable advice that just works, without the stress or the sales pitch. That’s exactly what we’re delivering with this partnership.” Whether they’re buying for the first time, refinancing their home, or growing a portfolio, Mastercard SME customers can now feel more in control of their mortgage choices with Habito on hand to guide them through every step.
Albertsons to looking to expand digital media capabilities and measurement and optimization beyond signage and marketing materials in store, now into in-store environments
According to Sean Barrett, chief marketing officer at Albertsons Cos, the grocer wants value-seeking, time-strapped consumers to be able to shop its stores and feel like they’ve made a good decision in doing so. “Retail media, and commerce marketing in general, plays a really important role to interrupt and lead that shopper with great value, great offerings, a great message that makes them feel like a smart shopper buying your brand on that shopping trip, as well as delivering them a personalized offer, for instance, so they can get great value on your product in the place that they prefer to shop, the place that they primarily shop.” When it comes to the value equation of “what you pay is what you get,” Barrett asserted that Albertsons is working closely with its brand partners and leveraging its scale to lower prices for shoppers. Relevant, personalized offers, as well as the grocer’s revamped loyalty program, are also making a positive impact on the “what you pay” side of that value equation.. The grocer is also leveraging what it knows about specific customers to offer them helpful, relevant communication that encourages them to make a purchase. That inevitably leads to in-store retail media and marketing opportunities, which Barrett said Albertsons is actively pursuing. “We’ve all done this with signage and marketing materials in store, but really that next frontier is to bring digital media capabilities and measurement and optimization into our in-store environments,” he said. Barrett also stressed the use of data to bring all of these tactics together, and of having it in one place to make it more actionable. Further, connecting data to all of its marketing channels allows Albertsons to be more personal and relevant, and thus drive convenience for customers every time it engages with them.
New survey says 52% of Americans are BNPL for everyday purchases; electronics, furniture and home goods are the most popular items purchased through BNPL with an average minimum price of $250
According to a survey by PartnerCentric.com, 52% of Americans now rely on installment-based payment services to cover everyday purchases, including groceries. The most popular items purchased through BNPL include medium to large products like electronics, furniture and home goods, with an average minimum price of $250. But 31% of consumers also reported using those programs for essentials like groceries, highlighting the financial strain many households are facing. BNPL programs are especially popular among younger Americans, with 59 percent of Gen Z and 58 percent of millennials opting for flexible payment methods. The survey also found that 35 percent of consumers plan to use BNPL more frequently in 2025, a figure that jumps to 65 percent among Gen Z. Popular BNPL providers like Afterpay, Affirm, PayPal Pay in 4 and Klarna have become critical financial tools for many Americans, offering flexible installment plans with no interest, helping consumers manage their rising expenses. These options won’t affect credit scores if payments are made on time. Economic uncertainty appears to be adding to the trend. Fifteen percent of survey participants said they tried BNPL in 2025 due to the increased cost of living.
New York state to establish a supervision framework for BNPL- disclosures, dispute resolution, limits on fee, data privacy; requires disclosure when a price was set by an algorithm using personal data
Governor Kathy Hochul signed a new legislation as part of the FY26 Enacted Budget that will protect consumers across New York and fight back against scams or exploitative practices. From simplifying the process of cancelling recurring online subscriptions to cracking down on overdraft fees that target low-income consumers, these new laws will help New Yorkers fight back against unfair corporate practices. The FY26 budget includes legislation requiring businesses to notify consumers of upcoming renewals and price changes as well as provide clear instructions on how to cancel subscriptions. Under this legislation, cancellation processes must be simple, transparent, and fair – ensuring that it is just as easy to cancel a subscription as it was to sign up. With e-commerce sales rising and returns accounting for billions of dollars annually, New Yorkers deserve stronger consumer protections. The FY26 Budget also includes legislation to require online retail sellers to post return and refund policies in a way that is easily accessible for consumers; and a legislation to establish a licensing and supervision framework for BNPL providers. This legislation will introduce safeguards, such as disclosure requirements, dispute resolution standards, limits on all charges and fees, and data privacy protections to ensure consumers are better protected when using these financial products. The FY26 Budget includes first-in-the-nation legislation that requires businesses to disclose clearly to consumers when a price was set by an algorithm using their personal data, subject to certain exceptions.
SavvyMoney acquires integration solution CreditSnap to bring credit scores, personalization and fin literacy to more LoS platforms
SavvyMoney announced its acquisition of CreditSnap, a fintech solution provider that powers intelligent integrations to digital loan, deposit and account onboarding solutions for banks and credit unions. With CreditSnap’s technology, we aim to strengthen our ability to work alongside existing LOS and account opening systems, delivering even greater value to our partners and their consumers. JB Orecchia, president and CEO of SavvyMoney said, By combining SavvyMoney’s ability to drive high-intent demand with CreditSnap’s flexible integration solution, we’re delivering a comprehensive digital experience for both lending and deposit growth—one that works with, not against, their existing systems. Financial institutions can now offer a seamless, end-to-end experience by leveraging SavvyMoney’s demand-generation capabilities in conjunction with CreditSnap’s flexible integration process. From personalized credit insights to frictionless application and booking, allowing every integration to work with one unified platform. CreditSnap Key Benefits: The platform integrates with more than 73 loan origination, core and digital banking systems; Loan application time can be reduced from 12 minutes to as little as 2 minutes; Financial institutions have reported a 20–40% increase in loan volume and deposit funding rates as high as 78%
Pagaya’s platform for second-look personal loans offers potential for a mid-sized bank of over $1.5 billion of personal-loan origination in less than nine months; can help lenders “bid better” for leads from data aggregators, such as Credit Karma or Experian
Alternative lending fintech Pagaya Technologies has its sights set on expanding its personal loan offering to regional and super-regional banks while it also builds out its marketing acquisition engine. Pagaya currently partners with banks such as U.S. Bank and neobanks such as SoFi to offer artificial intelligence-powered second-look personal loans to consumers who might not otherwise qualify. Pagaya integrates with lenders’ loan origination systems and buys the loans it originates from the lenders and sells those loans on the secondary market. It is also active in auto lending and point-of-sale buy now/pay later lending. All in, Pagaya counts 31 lenders as partners. Pagaya is in talks with four or five regional banks to help build out or expand their personal-loan offerings, co-founder and CEO Gal Krubiner told. “There is a new era where people are starting to look at growth, and for the regional banks, personal loan is a good way to grow the franchise and to give solutions and products to their customers,” he said. Many regional banks look to personal loans to help secure deposit inflows, a trend that Pagaya is hoping to capitalize on when bringing new partner banks into the fold, Krubiner said. “From our perspective … working with Pagaya could generate for a mid-sized bank over $1.5 billion of personal-loan origination in less than nine months,” Krubiner said, citing U.S. Bank’s performance on the platform. Pagaya is also using its integration into lenders’ underwriting platforms to offer pre-screened loans to potential customers in another avenue that it hopes will lead to growth, said Sanjiv Das, president of Pagaya. “Think about our total market opportunity. We have 31 lending partners. Those 31 lending partners have about 60 million consumers as existing customers. We’ve only scratched the surface right now with the 3% [penetration],” Das, told. Pagaya is also working to help lenders “bid better” for leads from data aggregators, such as Credit Karma or Experian, Das said. The push toward regional banks comes on the heels of solid first-quarter earnings results that beat analysts’ estimates across nearly every metric. Revenue jumped 18% year over year to $290 million, ahead of analysts’ expected $285 million. Net income landed at $8 million, or 10 cents per share, compared with a $21 million loss in the same reporting period last year and eclipsing analysts’ estimate of a $10 million, or 15 cent per diluted share, loss. Shares of Pagaya have risen about 26% since the company reported earnings on May 7, according to a research note from David Scharf at Citizens. Scharf attributes the gains to Pagaya hitting positive GAAP net income ahead of schedule. KBW analyst Sanjay Sakhrani bumped his price target for Pagaya’s stock following the earnings report, pointing to pre-screen and affiliate channels as “growth drivers.” “We believe PGY is well-positioned to shift toward revenue growth across its three loan markets — personal, auto, and POS and deliver profitability. While macroeconomic volatility may introduce risks to funding costs and underwriting capabilities, management’s disciplined risk approach and measured appetite provide confidence,” Sakhrani said.
Cutthroat campus finance clubs emerge as gateways to Wall Street, offering real AUM experience and direct recruiter access
College finance clubs have become a gateway to Wall Street careers, and the process for joining can be as cutthroat as the industry itself. These are extracurricular, student-run groups — like a chess club or drama society — that come with names like the “investing banking club” or the “finance club.” Some run full-fledged investment funds, while others are Greek fraternities that recruit students majoring in business, finance, marketing, or accounting. What distinguishes them is that they tend to offer their members VIP access to campus recruiters, specialized training sessions, and other tools to help students snag the all-important investment banking internship, which is the best path to a full-time job after graduation. The catch? Their perks have created a race for membership, and the admissions process to join a club can be as cutthroat as the industry itself. The clubs help Wall Street employers by creating a clear pipeline of job candidates, and firms have been known to cater to them as a result. While it’s unclear exactly when these clubs became must-haves for a Wall Street job, the people who spoke with BI tended to agree that the situation reflected a race among employers to recruit talent earlier and earlier. To be sure, the club scene has long been exclusive. From the “eating clubs” at Princeton to the average sorority, organizations will choose members based on social interactions, pedigree, and background. What makes the financial and business clubs different is that they are less about making friends or exploring new interests and more about your résumé. This has led to a degree of meritocracy, with the clubs requiring wannabe members to prove they have enough know-how and genuine interest to join. Club leaders from three schools told that their organizations accepted less than 10% of their freshman applicants, who numbered 150 to 300 in recent years. The interest makes sense. Members get exclusive exposure to the industry, including training and tips from upperclassmen who have already gone through Wall Street’s rigorous internship application process. Some clubs give their members real money to manage — whether a percentage of the university’s endowment or capital from members and alumni. It’s hypercompetitive, it’s overwhelming, and you have to be pushing constantly. Firm recruiters often interact with student clubs, granting members special access to meetings and events. The hedge fund Balyasny went to campus clubs to find candidates for its recent stock pitch competitions, which it uses to identify talent. A private equity worker, meanwhile, said the “No. 1 thing” she looked for when she was a recruiting captain of an investment bank was whether students from her alma mater had been members of “the two most prestigious investment clubs on campus.” While the pressure these young people face may feel exaggerated, there are plenty of signs that the stakes are all too real. Wall Street firms like Goldman Sachs have disclosed record levels of applicants to their internship programs. And Wall Street’s earlier-than-ever recruiting schedule compelled Steve Sibley, a professor at Indiana University’s Kelley School of Business, to move an introductory corporate finance class he runs from the fall of students’ sophomore year to the spring of their freshman year. The end result has been a club culture that often mimics the industry itself, including a cutthroat selection process.