The PayTech Awards promote and honor exceptional accomplishments in the use of technology across the global financial and payment sector. The “PayTech for Good” category honors digital companies that actively put the needs of the larger community first and go above and beyond typical corporate objectives to show compassion, connection, and collaboration.
B Generous, a B2B2C fintech firm, developed the world’s first philanthropic credit product that enables contributors to Donate Now, Pay Later (DNPL), financing their donation over time without having to pay anything out-of-pocket at the point of donation. B Generous is a fully regulated U.S. loan broker and loan servicer. Donors benefit from flexibility to pay over 3, 6, or 9 months with no interest or fees while still receiving the full tax deduction, and the nonprofit receives the whole amount right away. Without placing financial strain on donors, DNPL fundamentally resolves the liquidity issue for NGOs, enabling people to give what they want rather than just what they feel obligated to give.
When given the option to make payments over time, 82% of donors increase their gift, and this percentage rises to 89% for donors who give $1,000 or more. B Generous donors typically donate $460, which is 3.5 times the $128 average charitable giving.
The Provenir Data and AI-Powered Risk Decisioning Platform, which provides a streamlined single point of access to numerous bureaus and data sources for more precise credit decisioning, is what powers the near-real time credit decisioning that is a significant component of B Generous’s solution.
Provenir’s Executive Vice President for North America, Kathy Stares, congratulated B Generous on being named a distinguished finalist in this year’s PayTech Awards. “We are proud to support B Generous’ innovation in resolving the nonprofit sector’s liquidity issue while relieving the financial strain on donors.”