First South Financial Launches Innovative Buy Now, Pay Later Program for Members
First South Financial, which serves over 80,000 members across Tennessee and Mississippi, has recently launched an innovative Buy Now, Pay Later (BNPL) program aimed at enhancing accessibility and convenience for its members. This new service, powered by equipifi, is embedded directly within their mobile and online banking platforms, allowing members to seamlessly manage their finances and make purchases over time without needing a separate application.
The BNPL program is designed to offer two flexible payment options for eligible members. They can either split eligible completed debit card purchases into fixed installments or access additional funds through their First South Financial checking account before making a purchase. This dual approach enhances the purchasing power of members while keeping the process integrated within their existing banking framework.
One of the significant advantages of this BNPL solution is that it eliminates the need for a third-party lender. Purchasing power is determined based on each member’s cash flow and banking history with First South Financial. Not only are eligible members pre-qualified automatically, but they also enjoy a straightforward process devoid of lengthy applications or approvals. This streamlined access embodies First South Financial’s commitment to removing barriers and creating financial opportunities for its members.
As Summers Townsend, the Executive Vice President and Chief Operating Officer at First South Financial, highlighted, finding a “Path to YES” for members is central to their service philosophy. By offering financial tools that integrate smoothly with existing banking practices, they aim to empower members with flexibility and ease in their financial management.
Bryce Deeney, the Founder and CEO of equipifi, emphasizes the safety and trust that come from receiving financing directly from a member’s own financial institution, as opposed to a third-party lender. This intrinsic relationship fosters a sense of security, allowing members to shop with confidence while accessing the necessary financial flexibility.
First South Financial was established in 1957 and has built a reputation for strength and stability, ranking among the top 1% of financial institutions nationwide in terms of financial soundness. They offer a comprehensive suite of banking services, including checking and savings accounts, mortgages, and personal loans. The introduction of the BNPL program is a natural extension of their mission to provide full-spectrum banking services that meet the ever-evolving needs of their members.
In conclusion, First South Financial’s new Buy Now, Pay Later program represents a significant step towards revolutionizing how members can manage their purchases while ensuring financial integrity. By focusing on direct relationships with their members and simplifying access to financial solutions, they continue to lead in member-focused banking services. For more information on this innovative program and other banking services, members are encouraged to visit First South Financial's official website at firstsouth.com.
The BNPL program is designed to offer two flexible payment options for eligible members. They can either split eligible completed debit card purchases into fixed installments or access additional funds through their First South Financial checking account before making a purchase. This dual approach enhances the purchasing power of members while keeping the process integrated within their existing banking framework.
One of the significant advantages of this BNPL solution is that it eliminates the need for a third-party lender. Purchasing power is determined based on each member’s cash flow and banking history with First South Financial. Not only are eligible members pre-qualified automatically, but they also enjoy a straightforward process devoid of lengthy applications or approvals. This streamlined access embodies First South Financial’s commitment to removing barriers and creating financial opportunities for its members.
As Summers Townsend, the Executive Vice President and Chief Operating Officer at First South Financial, highlighted, finding a “Path to YES” for members is central to their service philosophy. By offering financial tools that integrate smoothly with existing banking practices, they aim to empower members with flexibility and ease in their financial management.
Bryce Deeney, the Founder and CEO of equipifi, emphasizes the safety and trust that come from receiving financing directly from a member’s own financial institution, as opposed to a third-party lender. This intrinsic relationship fosters a sense of security, allowing members to shop with confidence while accessing the necessary financial flexibility.
First South Financial was established in 1957 and has built a reputation for strength and stability, ranking among the top 1% of financial institutions nationwide in terms of financial soundness. They offer a comprehensive suite of banking services, including checking and savings accounts, mortgages, and personal loans. The introduction of the BNPL program is a natural extension of their mission to provide full-spectrum banking services that meet the ever-evolving needs of their members.
In conclusion, First South Financial’s new Buy Now, Pay Later program represents a significant step towards revolutionizing how members can manage their purchases while ensuring financial integrity. By focusing on direct relationships with their members and simplifying access to financial solutions, they continue to lead in member-focused banking services. For more information on this innovative program and other banking services, members are encouraged to visit First South Financial's official website at firstsouth.com.
Topics Financial Services & Investing）
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