Programmable banking platform Hyperlayer raises £19.5m

Hyperlayer just raised £19.5 million to help traditional banks upgrade their technology without ripping out their old systems. For retailers and operators, this is a signal that your primary lending partners may soon offer much more flexible financing tools. Many legacy banks are currently held back by 'clunky' old software. This makes it hard for them to launch modern products like instant BNPL, flexible credit lines, or real-time loyalty rewards at your point of sale. Hyperlayer provides a 'programmable' layer that sits on top of these old systems. This technology allows banks to act more like agile fintechs. You can expect your banking partners to eventually offer faster integrations and more customizable financing options for your customers. Instead of waiting months for a bank to update a credit product, this tech could allow them to roll out new terms or promotional financing rates in a fraction of the time. While this is an 'under-the-hood' upgrade, the end result is a smoother, more modern checkout experience for your shoppers and less friction when processing high-ticket applications.

Source: Finextra — Lending

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