“ When I see BNPL , it reminds me of the beginnings of remote deposit capture or mobile deposit capture . That went from the cusp of early technology , before suddenly becoming ubiquitous . I think that BNPL will end up that way .”
With this prediction for the mass proliferation of BNPL financing options , Driest feels F & M Bank needs to pay close attention to the “ velocity of its adoption rate ” and prepare for it . “ With BNPL , you ’ re fundamentally extending credit to customers . So there ’ s a lot of baseline research and understanding that needs to go into it before you can launch a service or onboard a solution that enables you to do that .”
The future of Driest While the integration of BNPL financing may be a consideration for F & M Bank in the future , Driest ’ s immediate concern remains firmly in the organisation of day-to-day operations at F & M Bank . After all , at the time of speaking with FinTech Magazine , he had only been in the job for 45 days !
1908
Year founded
150 +
Number of Employees
For Driest , the important thing now is “ understanding what [ F & M Bank ] spends money on ” and why . He adds : “ For the next 18 months it ’ s going to be a lot about developing my team , understanding their skillset , explaining how I manage things so that we can work in partnership , understanding personalities , and then looking forward quickly to the future . “ One of the main things we need to address is a major refresh of our website – not only from a technological side but in terms of the front-end creatives for our customers . So we ’ re going to do a lot of work there and start to ask some key questions : to think about how we can continue to grow ; ask how we can better manage traction ; drive better adoption into our online banking ; and , ultimately , drive conversations and opportunities that can onboard customers most effectively .”
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