BNP Paribas Personal Finance provides consumer finance solutions for many leading brands in the UK. With simple, effective and reliable finance solutions they help their partners to grow their business.
BNP Paribas wanted to develop a completely new product for omnichannel retail financing. A flexible credit, without a card and ready for the retailer, with a focus on 'clicks' and 'bricks'.
For retail financer Your Plan, ISAAC has developed an omnichannel platform where customers themselves can easily apply for a credit and use it for purchases in a webshop or physical stores.
"ISAAC just keeps on surprising us with new applications to help us partner up with our customers even more effectively."
One of the largest retail customers of BNP Paribas Personal Finance UK is the Dixons group. Dixons is owner of the major Currys PC World chain of stores, specialists in consumer electronics and household appliances. Together with Currys PC World, BNP Paribas UK launched a new financing product. Flexible cardless credit but with all the omni-channel benefits of a credit card: Your Plan. Using this credit, consumers can make direct purchase at Currys PC World.
Your Plan is fully geared to ease of payment and builds a Mobile First based bridge between the online world of webshops and the offline environment of a nice store. Customers buy a product and start a line of financing in their personal Your Plan account. The costs are fully transparent. With sufficient lending capacity the customer can easily make an extra withdrawal for a subsequent product. This optimally facilitates retention and repeat purchases.
Your Plan, developed jointly by ISAAC and BNP Paribas, focuses specifically on transparency, insight and clarity towards the customer. A customer's various financed products are individually visible in the self-service environment. The course of the entire financing process is clear from day one. It's possible to make changes or make extra repayments at any time. Visualisation using colours, graphics and dynamic infographics was a major challenge here. The result is sublime on any device.
Your Plan crosses borders: customers take their personal account with them from home to the store. They can submit their application from the comfort of their own sofa on a tablet and then walk through the doors of a PC World Megastore with an approved credit line. The integration between checkout systems, online accounts and credit-rating engines is seamless and slick. Retail staff are free to focus on sales instead of financial advice, while responsible lending is guaranteed by the User Experience of web apps and dashboards.
While BNP's internal IT specialists set their sights on the integration with the checkout systems of Currys PC World, ISAAC was working on the design and implementation of the customer dashboards. In their ‘My Account’, customers have insight into their credit level at a glance, they can see what still needs to be repaid, and what room they have for extra purchases. With integrated cross selling and upselling mechanisms based on configurable business rules, PC World can also profit from the added value of Your Plan.
ISAAC used a combination of Red Hat JBoss middleware, tidy REST APIs, KnockoutJS and Highcharts to ensure the advanced yet user-friendly dashboards show the right data in real time. Content relating to the visual elements originate from the dotCMS content repository, where it is easy to manage for marketeers. Conversion and goal-funnels are fully transparent and provide insight for further expanding the platform.
Financial products and repayments might seem easy, but the devil's in the details. ISAAC specialists in the field of calculation models and algorithms worked together with BNP's Finance department on the calculation models and related visualisations. So what the customer sees on their smartphone, and what they are charged monthly are exactly the same. Also for extra repayments, failed direct debits of extended payment terms. A project on its own!
In a series of workshops in Birmingham, Belfast and Eindhoven, ISAAC and BNP Paribas jointly developed the underlying workflows and security mechanisms for Your Plan. SMS tokens, scanable barcodes and real-time interfaces play a role in this. Based on the first workflows, prototypes of the User Interaction were conceived and developed. This means all possible scenarios were defined in detail in advance.
With tests, persuasiveness and a great attention to detail, these prototypes became reality through iteration after iteration. The Your Plan apply journey is unique and very easy to use. It uses the latest insights in the area of interaction and design to ensure the service is as ‘self serving’ as possible: customers can run through the process themselves, enter details and receive a rating in just a few moments: yes or no. All geared to their situation and retail purchase. If the customer is struggling, the application can be handed over straight away to store staff using the in-store terminal. Just what you need when you are about to purchase that great product at the store!
The new financing product has been setup fully white-label under the banner of 'Ways2Pay'. For Launching Customer Currys PC World, Ways2Pay was fully branded and positioned as 'Your Plan'. The design was brought in line with PC World's corporate identity, but at the same time was also clear enough to suit the serious side of financial services. The platform was set up fully white-label based on the smart use of CSS and CaaS (Content-as-a-service). Based on the developed workflows, modules and front-ends, Ways2Pay is easy to roll out to other retail contexts. The British market has a new innovative and flexible financing product! Powered by BNP & ISAAC.