Gergana Staykova, Market Leader, tbi

tbi bank entered into a partnership with Otto Broker, through which customers may buy insurance via the Buy Now, Pay Later (BNPL) solution in 4 interest-free installments or 6-12 installments with interest.

The easy-accessible BNPL solution enables consumers to spread the total cost of any acquisition in installments, without any interest or fees, thus supporting financial and social inclusion. In this way, customers can make more purchases or buy more valuable products, while merchants get access to a new tool to satisfy their customers’ needs.

“The new levels of insurance premiums in 2023, amid inflationary pressures, require new tools for consumers to maintain their financial protection while using their cars for their mobility needs. A partnership with a strong player like Otto Broker allows us to be closer to our customers and to help them have a more comfortable solution to pay their RCA,” said Gergana Staykova, Market Leader, tbi.

Otto Broker is one of the largest Romanian companies specializing in insurance brokerage activities. The company has over 130,000 customers, a sales network of more than 30 units nationwide, and an experience of more than 22 years in the local market.

”We always look for new solutions for customers’ needs and access to installments for RCA has been an important topic last year. Through this agreement with tbi, we can provide individual customers with an effective solution for buying a RCA insurance policy. During the pilot project we have already seen an increased interest among clients for this payment option, which is available both in our physical offices and also on our website,” said Victor Sraer, Managing Partner, Otto Broker.

tbi bank is a mobile-first challenger bank in South East Europe and a regional leader in alternative payment solutions, building an ecosystem by combining financing and shopping to address customers’ needs. Currently operates in Bulgaria, Romania, Greece, Germany, and Lithuania. Through various digital channels and trusted partnerships with nearly 20,000 merchant locations, tbi has a customer base of 2 million clients and issued nearly 550,000 loans in 2022.

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