By basing credit decisions on artificial intelligence, Klarna made financing big-ticket purchases a cinch for shoppers. Now that the firm has received a banking license from Swedish regulators, it’s time to seriously consider the broader industry implications of this kind of lending.

Klarna and companies like Affirm, Bread and Acima give online shoppers an instant loan to pay for a big-ticket item like a television or mattress.

Read more at American Banker.