Credit, Collections & Insolvency News
Boshhh Group has announced that it has partnered with Yapily to launch a fintech solution with an aim to end irresponsible BNPL lending amid the upcoming FCA affordability clampdown.
The new FCA regulations tackling the lack of comprehensive affordability checks in BNPL lending come into effect in 2026 with lenders currently failing the financially vulnerable with inconsistent affordability checks.
Boshhh says that its new fintech solution offers a new standard for affordability checks, breaking down essential vs discretionary spending patterns to provide indisputable conclusions regarding affordability for potential lending, protecting the wellbeing of customers as well as lenders from FCA penalties.
Lewis Camilleri, CEO and Founder of Boshhh Group said “Over 26 million Brits use buy now pay later services. They are a great way to feel less financially constricted when making purchases, but the previous lack of regulation on these services has led to the exposure of users to potential financial harm. The top-level checks for approval don’t prevent the financially vulnerable from taking out short-term loans they will struggle to manage, potentially leading to high interest rates and harsh penalties for late payments. This needs to stop, and with Boshhh FinTech it will.”
