SCOTTSDALE, AZ / ACCESS Newswire / September 25, 2025 / Buy Now, Pay Later (BNPL) reshaped consumer credit almost overnight. For many shoppers, splitting payments into installments felt modern, flexible, and far less intimidating than applying for a traditional credit card. For credit unions and banks, it created urgency: innovate quickly or risk losing relevance.

But while BNPL opened doors, it also exposed cracks. Regulatory scrutiny increased. Consumers sometimes borrowed beyond their means. Financial institutions struggled to adapt BNPL into existing systems without creating friction. What was meant to be empowerment sometimes tipped into risk.

A Broader Vision for Credit
Arthur Miller, Founder and CEO of FiQIS, views BNPL as a starting point rather than a final solution. As the former CTO of equipifi, where he brought BNPL to credit unions at scale, he saw both the benefits and the limitations firsthand. That experience shaped his conviction that the next decade of consumer credit must go further-balancing innovation with responsibility.

Miller argues that lending platforms need to shift from single-point products to modular systems that address the full spectrum of consumer financial health. Instead of focusing narrowly on installment payments, institutions should be equipped with AI-driven insights, transparent trust scoring, and integrated compliance tools. In his view, credit is not just about transactions but about building long-term confidence between consumers and institutions.

Responsible Growth Through AI
Artificial intelligence plays a central role in this evolution. For Miller, AI is not about replacing human judgment but enhancing it. Smarter algorithms can identify risk earlier, adapt to a consumer's changing financial profile, and reduce bias that often creeps into traditional scoring models. When designed ethically, AI becomes a guardrail as much as an accelerator.

The FiQIS platform was built with these principles in mind. Its modular design allows institutions to modernize incrementally, while its AI insights offer a more nuanced picture of consumer trust. Rather than treating every borrower as a line item, the system provides a dynamic profile that reflects real behavior and context. This not only helps banks and credit unions lend more responsibly but also gives consumers clearer visibility into their own financial standing.

Regulation and Consumer Trust
The BNPL boom brought regulators into the conversation, and their role will only grow. Miller welcomes that involvement, viewing regulation as necessary for stability and consumer protection. "Regulation should not be a barrier to innovation. It should be the framework that ensures innovation is sustainable," he notes.

Transparency is key to earning consumer trust. When borrowers understand the terms clearly and can see how their financial behavior shapes their opportunities, they are more likely to engage responsibly. Institutions that embrace this openness are not only less likely to face compliance issues but also more likely to win loyalty.

Building for the Long Term
Miller's vision reflects his broader philosophy of leadership and architecture. Quick fixes rarely last. Systems must be designed to evolve, scale, and adapt as new technologies and expectations emerge. This is why he believes modular, white-label platforms like FiQIS represent the path forward. They let institutions stay competitive without sacrificing resilience or trust.

A Smarter Credit Future
BNPL showed consumers that credit could be reimagined. The next step is creating lending systems that are not only convenient but also transparent, secure, and sustainable. Miller's work is pushing the industry in that direction, combining deep technical expertise with a people-centered approach.

As financial institutions prepare for the next decade, those that embrace smarter credit models will gain more than market share. They will build the kind of trust that defines long-term relationships: the kind of trust that no installment plan alone can guarantee.

Arthur Miller
Scottsdale, AZ
arthur@fiqis.com
https://fiqis.com/

SOURCE: Arthur Miller