FARGO — Cornerstone Bank is partnering with online “buy now, pay later” payment processor Credova, the financial institution announced Monday, Nov. 22.

As part of the agreement, Cornerstone Bank will launch noka, which will handle loan origination for Credova. Credova is an online shopping platform which offers no-interest deferred payments for websites selling outdoor recreation, farm, home and ranch goods.

In a news release announcing the partnership, Cornerstone Bank Chairman Gary Peterson said working with Credova was the right fit for Cornerstone Bank. “This exclusive agreement furthers our vision of being who people turn to when they are making important decisions about their money,” Peterson stated. “Cornerstone Bank and Credova share very similar cultures and approaches to doing business, making this relationship a great pairing. Both organizations will benefit from each other’s areas of expertise.”

Credova CEO Dusty Wunderlich credited Cornerstone Bank’s progressive thinking for making the partnership possible. “This is the next step in our company's evolution, to partner with Cornerstone Bank, a pillar in the banking community,” Wunderlich stated. “It’s not often you find a bank with a nearly 100-year history, be so nimble and forward thinking, but that’s exactly what we’ve discovered in Cornerstone Bank,” continues Wunderlich.

Buy now, later options such as Affirm, Afterpay and Klarna have become increasingly popular among online shoppers. Specifically focused on outdoor recreation and more, Credova is partnered with 15 online shops.

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Based in Fargo, Cornerstone Bank has 11 branches across North Dakota and South Dakota as well as over $1 billion in deposits, according to the FDIC.