Switch provides banks and financial institutions with a comprehensive system for managing loans and installment services linked to payment cards. This service enables banks to allow their customers to obtain financing or purchase products and services using their payment cards, with the amount settled later through scheduled installments that are automatically deducted from the card balance.
The system is powered by the ILP (Installment Loan Platform) engine, which allows banks to define lending policies and installment conditions such as repayment periods, interest rates, and eligibility criteria. The platform also provides advanced tools for operational management and automated installment tracking, helping improve customer experience and increase the usage of payment cards.
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The General Data Protection Regulation (GDPR) 2016/679 is a regulation in EU law on personal data protection and privacy and addresses the transfer of personal data outside the EU and EEA areas.
