What will the new Aptic and TieTa partnership mean for UK retailers? The unique combination of a software platform and process resourcing is very valuable. It provides the retailers with an end-to-end turnkey solution for buy now pay later (BNPL).
European fintech company Aptic and UK outsourced debt recovery specialist TieTa announced a partnership agreement today. It will benefit retailers and e-commerce businesses seeking greater control and efficiency. It will also help them get a greater margin from their buy now pay later offerings. By teaming up on business development and solution design opportunities throughout the UK market, retailers can rapidly convert to in-house BNPL strategies that regain ownership over the customer journey, insightful customer payment data, and significant sales margin currently being lost to third-party BNPL processors.
The result is an optimised customer proposition. It maximises big data analytics with the compliance agility to remain ahead of fast-changing regulatory changes expected to impact the UK BNPL sector in 2021 and beyond.
What Aptic and TieTa had to say about the new partnership
“Going the Klarna/Clearpay route for BNPL isn’t the only option for retailers. This is because it’s losing them significant margin and disrupting the customer journey. Additionally, it shuts off access to valuable payment data insights. These insights could be used to innovate dynamic, personalised marketing and tailored finance offers instead.” said Rick Terra, Regional Director, Continental Europe at Aptic. “Ours is a powerful, mature software solution. It integrates with all existing processes and applications to enable fast go-to-market of BNPL services. Partnering with TieTa adds the ‘people and process’ element. It will give retailers an end-to-end turnkey solution from order purchase all the way through to debt collection.”
“Having carved out a niche in the UK for outsourced debt recovery, we see clear opportunity and demand among new kinds of organisations to develop their own BNPL capabilities using market-leading solutions like Aptic’s rather than continue relying on third parties,” said Tom Horne, Chief Operating Officer at TieTa. “We’re delighted to be collaborating with Aptic on a new partnership that delivers what retailers really need. Namely, rapid deployment of a proven BNPL platform and supporting processes that allow them to maximise margin and efficiently deliver a fantastic, personalised customer experience.”
Would you like to know more about this new Aptic and TieTa partnership? Or perhaps you have some other questions regarding topics such as software solutions for financial services, leasing systems, factoring systems, open banking, time to market, invoicing systems, credit management, etc.? If so, feel free to get in touch with us at our contact page.