Deko launches latest version of its flagship product providing a tailored checkout finance experience for shoppers


UK retailers will now be able to offer an enhanced finance experience to consumers following the launch of Deko’s latest version. The solution is the fully managed end-to-end checkout finance product from Deko, the multi-lender Buy Now Pay Later (BNPL) platform.

This is the fourth iteration of its flagship software, featuring best-in-class UX developed by Deko’s leading in-house product design team, and built with its decade-long expertise in delivering embedded credit solutions for retailers. It is also the first time that Deko’s unique multi-lender technology has been deployed within a new, next generation architecture, using a flexible and modular workflow engine and lender integration layer to enable a streamlined application experience for every consumer - where different lender application forms and data entry requirements, appear in a single, consistent journey.

The new solution brings together the very best checkout finance design insights from Deko’s rich heritage in Point-of-Sale lending, and means that consumers can breeze through loan application requirements quickly and clearly with a minimum of fuss.

Rob Fernandes, Chief Product Officer at Deko, stated: “Version 4 of our checkout technology represents a milestone investment in unlocking industry-best finance experiences connected to a range of leading lenders. We have completely rebuilt our platform from the ground up to work seamlessly across lenders while delivering a single, complete, end to end mobile and online checkout lending experience.”

“Our strategy started with our new embeddable finance calculator that can sit within the merchant website, on product pages or in checkout itself, guiding customers on available offers. In turn, this leads to a fully orchestrated application journey, regardless of the underlying lender. By reassuring customers of their finance eligibility and better directing them through a consistent application experience, Deko’s latest technology acts as a toolkit to lower levels of cart abandonment.”

For merchants the new version comes complete with a rapid integration library to instantly embed these finance details and offers on individual product pages as well as the ability to launch the companion finance calculator and quickly browse loan options, helping convert more customers and increase basket sizes.

Deko has also transformed the multi-step application workflow to capture customers’ personal, residential and employment data via dedicated, dynamically generated screens which present tailored questions based on prior responses, an approach known as ‘progressive disclosure’. 

It is part of Deko’s strategy to ensure that applications can be completed quickly and accurately - further supplemented by clear, signposted forms and a live look-up address finder for as-you-type auto-completion. In addition, the new platform enables ‘in principle’ lender eligibility decisions in seconds and a full loan completion experience including collection of bank details and e-signing, all within checkout.

Fernandes continued: “As BNPL and checkout finance continues to grow market share in the UK, we have developed this new version of our technology to help retailers drive customer conversion and grow order values, irrespective of their lender. It is a fully managed, end-to-end solution inclusive of marketing, purchasing and loan completion. Our design team placed unprecedented focus on user experience including presentation, language and accessibility for all types of users and the platform comes with out-of-the-box integration modules for over 20 of the leading eCommerce platforms. ”

Deko’s latest solution delivers rapid customer outcomes for consumers and merchants alike, backed by a new dedicated retailer dashboard to view, search, manage and export applications quickly and easily. This means merchants can not only view loan applications, but filter them by status and stage within the sales funnel, as well as directly marking orders as fulfilled or refunding or cancelling others.

“We have always put the consumer experience at the heart of our strategy and continue with that approach in this latest generation of our checkout software. Deko is unique in connecting retailers, consumers and lenders in a single consistent platform and we believe passionately that this also enables merchants to enjoy a flexible and scalable pay-later solution wherever they choose to deploy it. ”

“As a result, we firmly believe we have delivered the most responsive embedded finance experience for both consumers and merchants alike, ensuring that we maintain our reputation for both innovation and optimisation,” concluded Fernandes.

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