Q&A with Becky Cook, Group GM Partners at Latitude

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By Published On: March 1, 20220 Comments

Latitude Financial is one of Australia and New Zealand’s leading payments and instalments providers. With more than 2.8 million customers, Latitude works in partnership with retailers to provide easy and convenient interest-free payment plans to their customers.

Becky Cook is Group GM, Partners at Latitude. She joined Latitude last year from American Express, where she spent 12 years successfully leading business development and operations in both Acquiring and Issuing across Asia Pacific, most recently as VP & GM of the Global Commercial Business in Asia Pacific. Becky is passionate about collaborating and innovating with partners to deliver maximum growth for their businesses and a seamless customer experience. 

1. Becky, you joined the business in 2021, tell us about your role and why you joined Latitude?

It’s been an incredibly exciting time to join Latitude Financial Services, with technology and consumer behaviour driving changes in payments and shopping habits.  The emergence of BNPL has been a game-changer for retailers and consumers and with that comes opportunity to develop innovative products and services to deliver a unique proposition for customers and merchants. 

I’m fortunate to lead an experienced, engaged, and innovative team that are passionate about continuing to transform the payments experience and maximise value through our partnerships.

2. Latitude has a long history in sales finance and financial services. What’s the story?

One of the things that drew me to Latitude was its history and the strength of its merchant partnerships.  Latitude has a long history of over 100 years dating back to the 1920s and was originally founded to provide finance for the purchasing of household items. 

Many people don’t realise but it was Latitude, as GE Money, that first worked with Harvey Norman more than 30 years ago to create what was really Australia’s first significant buy now pay later platform when we were able to help them introduce interest free shopping.

3. What products do Latitude offer retailers today?

Latitude offers a broad range of Interest-Free options, both in-store and online, making it easy for retailers and consumers to access payment solutions that suit them.  

Through Latitude GO and Gem, we offer customers interest free plans up to the $30,000.  With our ongoing focus on product development over the last 12 months, we’ve introduced enhanced propositions for Latitude GO and Gem, including extending interest-free shopping to everyday purchases above $250 on our Latitude GO card.   

Our BNPL product, LatitudePay, offers some of the lowest merchant fees. It can be used for purchases of up to $10,000, with interest-free repayments from 10 weeks and over. 

So, whatever your customers are buying, whether it’s a new pair of kicks, a new couch or power tool, we offer easy, flexible options with the right payment plans. 

via Latitude

4. What do Latitude Offer Retail Merchants today?

Our goal is to be the preferred partner in smart interest-free solutions, helping all our partners grow and their businesses to flourish.  We work closely with our partners to have a deeper understanding of their needs and establish partnership programs to increase their sales. 

To support this, we’ve invested heavily in data personalisation and purchasing algorithms to create a more pertinent, personal customer experience. This means we can provide customers with the right offers at the right time which helps our partners attract the right customers through their purchasing lifecycle and effectively grow their business.

We’re also working with our retail partners to increase their average transaction size (ATV). In 2021, merchants who offered LatitudePay were able to increase their ATV by up to +60 percent more than other small-ticket providers. Through consultation and collaboration with our partners, we implement dedicated marketing campaigns and promotional initiatives that drive sales and maximise brand awareness for our partners. 

5. Can we expect to hear and see more of Latitude in 2022?

Absolutely!  We’re laser focussed on how we can enhance our value to our retail partners, whether that’s through a broader product range, seamless checkout experience, generating return customers or sharing customer insights to help them grow and evolve their businesses. 

We recently announced that we will be acquiring Humm’s consumer business, comprising BNPL, instalments and cards, with a further 2.6 million customers and around 60,000 merchant partners.  This is incredibly exciting for us, as it means we’ll be able to offer merchants and consumers even greater capability in the payments and instalments space as well as continue to expand our global footprint.  

We’ll be attending all the key retailer conferences and events this year, so make sure you come by and find out more about what we can offer retailers in 2022.

To learn more about how Latitude can help your business click here.

About the Author: Power Retail

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