Citizens Financial Group focuses on technology and other large purchases for its BNPL lending. Citizens Financial Group was early to the buy now/pay later party in the U.S., and as consumer technology has evolved, so has its approach to the market. Through a partnership with Apple, the Providence, Rhode Island, company has offered installment loans for iPhones since 2015, well before BNPL was both a buzzword for consumers and a flashpoint for regulators and investors. Today, consumers are upgrading their devices more aggressively — even their home appliances — and creating new categories for the bank to target with its loans. "Tech has a shelf life, and those who are heavy users of technology are often looking to replace their devices," said Christine Roberts, an executive vice president who leads Citizens Pay, a role she assumed in late 2022. "Financing technology is a great way to pay over time."
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