case study : Point-of-Sale Lending

Carilend Point-of-Sale “Buy Now, Pay Later” Lending

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Carilend is a leading digital lending fintech company in the Caribbean. All their lending operations are run on The Madiston Platform.

In 2019, Carilend secured new investment from Victoria Mutual Investments Limited and a Barbadian entrepreneur, owner of tech hardware company, Promotech. This enabled Carilend to begin its plans to expand rapidly across the Caribbean and launch new lending products, not least Point of Sale Lending with Promotech.

Mark Young, CEO, Carilend

The Need

Promotech wanted to offer its customers an option to request a loan through Carilend, to finance the laptops and computers they were buying. What they needed was a Point-of-Sale loan system that enabled Promotech’s customers to “Buy Now, Pay Later” all managed within Carilend’s lending platform.

The Solution

Madiston’s API enabled Promotech’s customers to access the Carilend platform and took them, step-by-step through the onboarding, ID verification, KYC, AML, credit referencing, affordability checks and decisioning, all within minutes whilst standing in the Promotech stores.

Madiston’s technology meant the borrowers followed all Carilend’s compliance steps, dictated by their answers at login, and were guided through the system thereafter based upon the rules associated with their profile.

Mark Young, CEO of Carilend, commented on Madiston’s software: “The Point of Sale lending process was fully automated which meant that Promotech and Carilend staff only had to deal with any exceptions flagged up by the system. As a responsible lender, it was very important to us that affordability checks were included in the process as well as ID and credit referencing to ensure that loans were offered appropriately. This provided an excellent service for the borrowers and helped many people purchase laptops and computers when suddenly, during lockdown, they had to set up a home office at speed.”

Point of Sale “Buy Now Pay Later” technology
and The Madiston Platform

Tim Simon, CEO of Madiston comments on BNPL technology: “Buy Now Pay Later” is an important technology for a service that is gaining traction around the world. Being able to provide this system to Carilend and Promotech meant that they were able to offer a valuable new service to their customers. We see significant opportunity in Point-of-Sale lending and have integrated it fully into our digital lending platform, controlled by settings to enable the model to be managed safely and compliantly, including credit risk assessment and affordability checks, in many different retail environments.”


Tim Simon, CEO, Madiston

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