BNPL Fintech Credova Teams Up with Cornerstone Bank

Credova, a Buy Now, Pay Later (BNPL) solution emerging in the outdoor recreation, farm, home and ranch markets, has announced an agreement with Cornerstone Bank.

Credova says that it exists because a group of people were “given an opportunity to create something that hadn’t been brought to market before.”

As they watched, fintech services and buy now pay later providers “popped up left and right.” The industry coverage map appeared. A steady adoption rate of this new tech was witnessed. It seemed merchants in all industries were “implementing a BNPL service.”

It became clear, the company claims, that huge gaps in the market existed, both in industry coverage, and consumer utilization. Not only that, but opportunities in “creating better underwriting, reducing fraud, and building out under served markets existed.”

With a guiding principle of embracing adventure, Credova “boldly took advantage of every opportunity available, and built a better product,” the company noted.

Credova developed a Buy Now Pay Later payment method that can “go anywhere, do anything, and reach far into the credit spectrum while returning incredible results.” They’ve created a product that “more businesses and more shoppers can access than any other buy now pay later provider can,” the Fintech firm claims.

Dusty Wunderlich, Credova CEO, stated:

“This is the next step in our company evolution, to partner with Cornerstone Bank, a pillar in the banking community. It’s not often you find a bank with a nearly 100-year history, be so nimble and forward thinking, but that’s exactly what we’ve discovered in Cornerstone Bank.” 

Jeff Thomas, Cornerstone Bank President/CEO, remarked:

“Cornerstone Bank’s Vision is to be who people turn to when they are making important decisions about their money. This relationship will help us do just that.” 

As noted in a release, Cornerstone Bank will be “doing business as noka in this agreement with Credova.” Noka is registered name of Cornerstone Bank, a North Dakota state-chartered financial institution. Member FDIC. Equal Housing Lender.

Thomas added:

“We believe that both Cornerstone Bank and Credova will benefit from working together, as we have a great deal of commonality in our approach to business and in our cultures.”

Credova is creating what it claims will be a household name in BNPL for outdoor rec, “leveraging Cornerstone Bank’s extensive history and experience in traditional banking.”

With steady adoption rates across 2020 into 2021, Buy Now, Pay Later providers are (probably) here to stay.

Bank partnerships in a BNPL era are “key for fintech growth and providing a method for financial institutions to stay viable.”

Adam Hughes, CEO at a fintech firm, Amount, noted:

“The success enjoyed by the Klarnas and the Affirms and the Afterpays of the world — as these tech upstarts gain scale — has awakened banks to the fact that buy now pay later is here to sta. Every bank is interested in BNPL.”



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