BNPL Gains Momentum as Holidays Near

We look at BNPL trends, along with banks' ongoing securities sales and emerging language in FDIC merger approvals requiring more lending to minorities.

Happy Monday, Bank Slaters!

I hope you enjoy the short week and have time to gather with friends and family for Thanksgiving. I encourage everyone to take time over the extended weekend to think of those who are dealing with adversity and find a way to touch someone else’s life.

I was recently provided advice in a Forbes Financial Council article on how to have stronger strategic partnerships. Here’s a snippet of what I shared:

“I emphasize the need to find like-minded partners. Do they share your risk tolerance? Do they share your ethics or standards? Do they align with your strategic imperatives? Like any long-term relationship, shared values and a shared vision are critical to long-term success.”

Let’s talk about Buy Now, Pay Later (BNPL).

Holiday shopping season is already here so it makes sense to look at BNPL adoption. The practice continues to quietly gain traction: four out of 10 BNPL shoppers use the service on a monthly basis, according to a survey conducted by PYMNTS Intelligence and Sezzle between late April and early May.