We're joined by Doug Paterson to discuss buy now, pay later (BNPL) lending, a form of consumer credit where goods and services are paid for in installments over a period typically less than 12 months, instead of being paid for in full at the time of purchase. We discuss how BNPL lending has evolved from traditional consumer financing; the market's rapid 60%-70% annual growth and the stricter regulation coming; and the regulatory and operational risks, among others, that we would consider if we were to rate a BNPL-backed securitization in Europe.
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