Pressreleaser | 26 Jan 2023 | Sileon

Sileon AB: Sileon’s SaaS-based BNPL platform is live

The platform, which acts as an underlying engine, enables banks, financial institutions and fintechs to quickly go live with a BNPL offering tailored to the market and end consumer’s needs. The following BNPL products can, for example, be offered:

• Instalment 
• Direct invoice
• Revolving credit

As the platform can seamlessly be embedded as a module in an organization’s infrastructure, it can support BNPL models regardless of channel. This applies, for example, to both Point of Sale and Post-Purchase, i.e., to offer BNPL during a retail transaction or to allow consumers to convert an already completed transaction into a divisible payment option and thus use BNPL retroactively.

In addition, the platform is payment initiator-agnostic, meaning that the BNPL offer can be based on any type of payment method (credit cards, debit cards and alternative payment methods, etc.). This will ensure that lenders can exceed customers’ expectations and stay relevant.

Essential capabilities available in the platform:

• Identity and Access Management
• BNPL Product Management
• Account Management
• Purchase and Refund Management
• Data Access Management

Sileon’s cloud-based BNPL platform is accessed by two external APIs that expose the BNPL capabilities and handle all communication between the lender and the platform. Creation and tailoring of BNPL products, as well as administration of users, are easily managed by the lender, who also has full control over data and customer relationships.

The Hungarian fintech company Paysome will become Sileon’s first platform customer. The platform is expected to be integrated into Paysome’s infrastructure during Q1 2023.

”This is an important milestone for Sileon. We have followed our plan and achieved our strategic goal of launching a modular, agnostic and international SaaS-based BNPL platform in Q1, 2023. This would not have been possible without the efficient, strategic and committed work of Sileon’s dedicated employees and management,” says David Larsson, CEO at Sileon.

In addition to the existing SaaS platform, Sileon will also launch elective solution modules in 2023. These are placed on top of the platform to further tailor BNPL products to specific markets, customers and occasions.

For more information, please contact:

David Larsson, CEO, Sileon AB 

E-mail: david.larsson@sileon.com 

Phone: +46 725 502 306

About Sileon

Sileon AB (publ) is a global fintech company that offers an innovative SaaS-based Buy Now Pay Later (BNPL) functionality to banks, lenders and fintechs. Sileon’s BNPL solution is integrated into the customer’s environment and operates under the customer’s brand, which, unlike conventional BNPL solutions, enables the customer to independently provide BNPL without being dependent on third parties. Sileon operates in a fast-growing international market with an estimated transaction value of $ 680 billion globally by 2025. Sileon is listed on the Nasdaq First North Growth Market and has approximately 50 employees at its headquarters in Stockholm, Sweden. The company’s Certified Adviser is Erik Penser Bank.