Buy now, pay later provider Butter is partnering with debt resolution FinTech Ophelos.
In Brief:
They’ve partnered to help customers resolve debts in “a fairer and simpler way”.
Ophelos’ technology will help any Butter customers that are in financial difficulty.
AI and machine learning will be used to find the best way to connect with customers before coming up with personalised payments plans.
What does this mean?
With BNPL coming under increasing scrutiny from the regulator and indeed the public, companies like Butter are taking steps to mitigate the risk of bad debt.
