How NaluPay Built a Commercial BNPL Product with Canopy
NaluPay, a point of sale system financing system for merchants and clients, needed a dynamic loan servicing platform that could serve several use cases. Of utmost importance was ensuring flexibility and scalability were present in one package.
Financing Possibilities, Reimagined
NaluPay, launched by BHG Financial in July 2022, provides a modern, merchant-centric solution. Their high-ticket POS financing solution was designed to operate on the latest technology architecture and a growing suite of insightful analytics.
Today, the company provides merchants with the ability to offer customers lines of credit, a suite of promotional and non-promotional financing options, and instant credit decisions.
Building an MVP Lending Product with a Leap of Faith
Former EVP of NaluPay, Matt Lekawa, was in charge of building out the product that would empower merchants to better serve their customers. As he sought out a lending core that would support their plans to scale with flexibility, he realized legacy systems were lacking the same vision.
Ensuring Consumer Protection
When building a new financial product or business model, it’s critical to keep consumer safety, transparency, and compliance at the heart of your system. With access to capital readily available through BNPL programs, NaluPay’s Matt Lekawa and his team were fully aligned with best practices recommended by the CFPB in 2022, such as built-in dispute processing.