Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Buy Now Pay Later (BNPL)

Buy now, pay later (BNPL) is a financial service that allows consumers to make purchases and defer payment over time, typically in installments. This payment option has gained popularity as an alternative to traditional credit cards and layaway plans. Here are the key characteristics of BNPL:

Immediate Purchase:

BNPL allows consumers to buy goods or services immediately without paying the full amount upfront. This is particularly attractive for consumers who may not have sufficient funds available at the time of purchase.

Installment Payments:

Instead of paying the entire purchase price at once, BNPL allows consumers to split the cost into equal or staggered payments over a period of time. Payments are usually made bi-weekly or monthly.

Interest-Free Option:

Many BNPL services offer interest-free installment plans if payments are made on time. However, late fees may apply if payments are missed or delayed.

Convenience:

BNPL services are often integrated into online and physical retail checkout processes, making it easy for consumers to select BNPL as a payment option when making a purchase.

Accessibility:

BNPL is often available to consumers with varying credit profiles, including those who may not qualify for traditional credit cards or prefer not to use them for certain purchases.

Digital and Mobile Integration:

BNPL services are typically offered through digital platforms and mobile apps, enabling seamless transactions and account management.

Consumer Protection:

BNPL services may provide consumer protection benefits, such as refunds or assistance with disputes, depending on the terms and conditions of the service provider.
Overall, BNPL has emerged as a popular payment method among consumers looking for flexibility and convenience in managing their finances. However, it's important for consumers to understand the terms of BNPL agreements, including potential fees and consequences for missed payments, to make informed financial decisions.

Explore more resources

Related articles

Monday 16 March 2026

[Playbook] Saving Commercial Lenders Time During Tax Season

Accountants aren’t the only people who feel stressed during tax season. Commercial lenders and their assistants feel the pressure, too—especially when borrowers forget to submit…

Read the Blog

Thursday 12 March 2026

Unlock Greater Banking Efficiency with Alogent’s ECM Suite: AccuAccount + FASTdocs

Did you know: Alogent’s ECM software suite includes two powerful tools: AccuAccount and FASTdocs. Both systems were built for the specific needs of financial…

Read the Blog

Thursday 5 March 2026

The Check Fraud Shift: How Declining Volume Is Creating Higher Risk for Banks and Credit Unions

Check fraud remains a material and growing risk for banks and credit unions, and the data underscores why it demands renewed attention. Alogent’s newly published…

Read the Blog

Tuesday 3 March 2026

Ask the Experts: The Hidden Cost of Standing Still on Deposit Modernization

Deposit operations are undergoing rapid change. As real‑time payments, evolving fraud threats, and digital‑first expectations reshape the banking landscape, banks and credit unions are reassessing…

Read the Blog

Thursday 26 February 2026

Secure Document Collection for Banks and Credit Unions: Eliminating Risk and Friction

Collecting and managing documents remains a challenge for banks and credit unions, who often depend on manual, fragmented processes to exchange information with account holders…

Read the Blog

Tuesday 17 February 2026

Modernizing Teller Capture: The Hidden Costs of Legacy Deposit Systems for Banks and Credit Unions

As account holder expectations change and operational pressures grow, outdated technology at the teller line can introduce inefficiencies, delays, and risks. For banks and credit…

Read the Blog

Thursday 12 February 2026

How to Electronically Share Credit & Loan Files with Examiners

The Commercial Loans (Section 206) booklet, part of the Office of the Comptroller of the Currency's (OCC) Comptroller's Handbook, sets forth examiner procedures for evaluating…

Read the Blog

Monday 9 February 2026

[Playbook] Smarter, Faster, More Secure Mobile Deposit Capture

Here’s the Situation: Today’s depositors expect flexibility, and mobile deposit remains a baseline feature for digital-first consumer and business banking. Financial institutions are turning to…

Read the Blog