Novuna Consumer Finance and UK-based financial services technology provider Divido have announced a partnership to power lending through a whitelabelled retail finance platform.
● Merchants utilising Divido platform to benefit from access to one of UK’s leading point of sale finance providers
● Novuna Consumer Finance’s UK merchant client base to benefit from access to lending in international markets via the Divido platform
● Partnership combines Novuna Consumer Finance’s 40+ years of retail finance expertise with Divido’s award-winning technology
The partnership will allow Divido merchants to benefit from greater choice and flexibility when choosing a lender to underwrite credit. Divido will leverage Novuna Consumer Finance’s 40+ years of experience and deep expertise in a wide cross-section of retail verticals to offer competitive lending rates and higher rates of acceptance through their platform.
Divido forecasts that merchants working with Novuna Consumer Finance through their whitelabel platform will benefit from increased volume of sales through retail finance, higher average basket sizes, and greater rates of repeat business. The partnership will allow Divido to offer their retail finance platform to a wider network of large retailers.
Meanwhile, Novuna Consumer Finance’s portfolio of existing merchants will benefit from Divido’s global platform, allowing them to expand their retail finance offering to international markets.
Todd Latham, CEO of Divido, said: "This is a landmark partnership for the retail finance sector. With a lender like Novuna Consumer Finance behind the Divido platform, we’ll have the capability to expand our whitelabel platform to a greater number of retailers in the UK.
“We look forward to increasing the scope of our partnership to benefit from Novuna Consumer Finance’s established expertise in the market.”
Brian Flesk, Head of Retail at Novuna Consumer Finance, said: “We are incredibly proud of this exciting new partnership with Divido.
“Our carefully crafted suite of flexible finance options has been built with customers in mind. Our tailoring options reduce the overall number of declined applications, helping retailers win more customers, as well as maximising on those with high affordability.
“These and many more services allow our retailer partners to offer customers exactly what they need: flexible finance options with low-cost monthly payments, all at the click of a button on their ecommerce platform, or quickly and simply in store.
“With over 40 years’ experience, we’re looking forward to continuing to grow within the UK and tapping into a wider international market with the support of Divido.”