CIT Group Inc. has announced its Small Business Solutions group has released a new version of its platform that enables real-time lending at the point of sale for business purchases.
Business customers can shop for products, be approved for credit, select terms and receive electronic documents to secure their purchase via an electronic experience. The platform is available online and on mobile devices.
The platform upgrade also includes next-generation API-driven technology that helps vendors integrate the POS lending platform into virtually any sales channel, including their B2B online e-commerce store. Other enhanced features integrate monthly payments on any product, digital credit application and digital terms selection.
“As digitally-enabled sales continue to grow, businesses and their customers expect the same technology experience and service that they are accustomed to in other aspects of their life,” said Denise Menelly, CIT’s executive vice president and head of Technology and Operations.
“We understand that businesses have unique needs, and CIT is among the first to offer a B2B online lending product that provides self-service features and real-time financing at the point of sale, so buyers can get the products and payment flexibility that meet their needs,” Menelly continued.
“Speed is critical to our clients when they are trying to sell equipment or technology to a business customer. That’s why we are focused on delivering solutions that make real-time lending and payment as easy as possible,” said Ken Martin, managing director of CIT’s Small Business Solutions group. “Our clients are asking for better interfaces to support their direct to business sales cycle, and our point-of-sale platform delivers a seamless lending experience.”
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