00:00So it sort of seems like buy now, pay later, you don't necessarily have to deal with
00:06how good your credit score is the way that you might if you get a credit card.
00:09So it kind of is a way that people who maybe don't have the best credit score to get credit
00:14and private banking, shadow banking, also seems like a way for companies that also might not have
00:21the best credit or might be maybe wanting to take out riskier loans for something that is
00:27maybe a little riskier. It seems like a way that they can get money. So this seems like
00:33two services that are a little bit similar in that way. Is that right?
00:36Yeah, definitely. I mean, in terms of the appeal for a private credit manager with, you know,
00:43take the forward flows, right, which we dig into in the story. These are ways that the private
00:47credit manager can get access to a steady, you know, predictable stream of short term assets,
00:54right, which is sort of outside of the realm of the typical longer term debt that might sit on
01:01their books from the buy now pay later firms perspective, rather than them waiting for
01:06payments to come back in so that they can get capital and extend more loans. They have willing
01:11buyers on the private credit side that say, Hey, you know, we'll give you that capital, you focus on
01:16what you're good at, you focus on extending those loans on helping everyday consumers make these
01:20purchases happen.
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