The VCMB board is focusing on two main themes this year: 'credit management in times of crisis' and 'innovation'. These topics come together in the recent collaboration between FinBuddy and Buckaroo. In this blog post, you’ll find out more.

Collecting payments the day after income is received. That’s what FinBuddy and Buckaroo enable together — for housing corporations, telecom providers, local governments, insurers, and other recurring payment service providers. The benefit? Higher customer satisfaction, improved collection conversion, and the prevention of problematic debt.

On average, every Dutch citizen has 14 recurring monthly expenses. These are typically spread throughout the month, which leads to a lack of financial overview. FinBuddy enables recurring payment providers to collect the day after income is received. This gives consumers more clarity and reduces financial stress.

What’s in it for consumers? More control over personal finances. When all recurring payments are deducted the day after salary comes in, budgeting becomes a lot easier.

Flip Roose, payment expert at Buckaroo: “FinBuddy’s approach fits this era, where more and more people are struggling to make ends meet. Personal budgeting is often a thing of the past.”

Thanks to the integration with Buckaroo as Payment Service Provider, FinBuddy allows fixed costs to be paid immediately after payday — whether that’s the 24^th, 26^th, or the 1^st. Together, we offer a complete and scalable solution for recurring payment providers.

Jeffrey van Dam, founder of FinBuddy, has over 10 years of experience in financial services, including a role as Special Asset Management Product Manager at Rabobank. He noticed that people were increasingly used to not having savings — fueled by digitalization and the ease of online spending. The panic over rising energy bills was a clear symptom.

“Smart marketing leads us to pay later,” Jeffrey says. “Those fun shoes you see on Instagram? They end up in your cart before you know it. The issue is: your account might look healthy now, but what about the €150 health insurance due in three days?”

“This lack of structure and overspending affects all age groups. People try to manage using Excel sheets or separate bank accounts. But it can be simpler. If all recurring expenses are deducted right after payday, you know exactly how much money is left for savings or fun.”

Whether you handle collections yourself or via a PSP — the process usually involves submitting a collection batch once per month. That seems efficient but can result in payment failures due to insufficient funds or other issues.

These failed payments burden credit managers and customer service teams, and can annoy customers. Spreading out collection moments reduces operational workload peaks and helps you manage communications and reminders more efficiently.

Flip: "FinBuddy and Buckaroo aligned because many companies want flexible payment strategies but can’t implement them due to outdated systems, internal processes, or limited capacity. As a PSP, Buckaroo can automate the collections directly via batch uploads."

FinBuddy users get access to a customer portal where they select their recurring payment providers. They set their preferred collection date once. FinBuddy then communicates this to all connected providers.

Important: FinBuddy does **not** handle the consumer's money. It only forwards the ideal collection date to the provider, who initiates the payment as usual.

FinBuddy recently won the 2023 *Droomstart* award from *De Ondernemer*, the largest business platform in the Netherlands. Out of 150 startups, FinBuddy was recognized for its impact and innovation.

During the competition, jury members praised the simplicity and practicality of the solution:

• “It’s tech, but we didn’t even talk about the tech” – André Dolsma (Qredits)
• “It simplifies something very complex” – Barry B. van Ruiven (SEABASS)
• “I’d use it too, why not? It’s easy.” – Kelly Weekers (Business coach & author)

Jeffrey: "Impact grows with more partners involved. Early adopters like Essent are already on board. FinBuddy users rate the service 4.8 out of 5. Together with Buckaroo, we offer an end-to-end solution. They handle the collections; we’re the platform connecting consumers and providers."

Buckaroo is FinBuddy’s preferred Payment Service Provider. Jeffrey: "Flip immediately took action. He asked: how can we make this work? Who can help from my network? That proactive mindset is rare and powerful."

Collaboration is key to making a real impact. That’s why FinBuddy actively seeks partnerships with other recurring expense providers to help make Dutch consumers financially healthier. This mission also ties into the goals of VCMB — improving knowledge in credit management and promoting collaboration within the industry.