Rebrand reflects company’s transformation to a
tech-forward provider of payment, lending and saving solutions
Alliance Data (NYSE: ADS) today announced it will now be known
as Bread Financial, a tech-forward financial services company that
provides simple, personalized payment, lending and saving
solutions. After a multi-year transformation to streamline its
business model, Bread Financial has emerged as a modern financial
services company backed by technology and platform solutions that
empower today’s consumer. The company’s prior market-facing brands
are now unified under the singular, cohesive Bread Financial
brand.
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“This is a turning point for the company, as our new brand
represents the strategic direction of our business transformation
to a modern, tech-forward financial services company,” said Ralph
Andretta, president and chief executive officer, Bread Financial.
“Combining the heart and hustle of a fintech with the discipline
and stability of a well-established bank, Bread Financial will
remain laser focused on delivering the innovative, omnichannel
payment, lending and saving solutions that consumers now demand at
every stage along their financial journeys.”
Built on the principles of choice, ease and trust, Bread
Financial provides simple, personalized solutions that empower
consumers to buy, borrow and save their way, including proprietary
direct-to-consumer credit cards and deposits. Bread Financial also
drives growth and loyalty for its partners through a digitally
enabled, white-label product suite that includes private label and
co-brand credit cards, installment loans and buy now, pay later
(BNPL).
“While we are changing our name and brand, as well as broadening
our strategic focus to include more direct-to-consumer products,
the foundational elements that drove our decades-long success will
remain intact,” said Val Greer, executive vice president and chief
commercial officer, Bread Financial. “Specifically, this milestone
starts with our associates — the heart of our company — and our
customer-focused, results-driven, award-winning culture. We will
continue to build on our 30-year legacy of creating value for our
partners, and as we transform, we will continue investing in data
and analytics, innovative technology, and digital capabilities that
meet the needs of our partners and consumers.”
Bread Financial’s parent company is now Bread Financial
Holdings, Inc., formerly Alliance Data Systems Corporation (NYSE:
ADS). The company’s common stock will begin trading under a new
ticker symbol — BFH — on the New York Stock Exchange on April 4,
2022. Bread Financial’s two bank subsidiaries — Comenity Bank and
Comenity Capital Bank — will retain their current names.
For more information, visit BreadFinancial.com.
About Bread Financial
Bread FinancialTM (NYSE: ADS) is a tech-forward financial
services company providing simple, personalized payment, lending
and saving solutions. The company creates opportunities for its
customers and partners through digitally enabled choices that offer
ease, empowerment, financial flexibility and exceptional customer
experiences. Driven by a digital-first approach, data insights and
white-label technology, Bread Financial delivers growth for its
partners through a comprehensive product suite, including private
label and co-brand credit cards, installment lending and buy now,
pay later (BNPL). Bread Financial also offers direct-to-consumer
solutions that give customers more access, choice and freedom
through its branded payment, lending and saving products.
Formerly Alliance Data, Bread Financial is an S&P MidCap 400
company headquartered in Columbus, Ohio, and committed to
sustainable business practices powered by its 6,000+ global
associates. To learn more about Bread Financial, visit
BreadFinancial.com or follow us on Facebook,
LinkedIn, Twitter and Instagram.
Forward-looking statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements give our expectations or forecasts of future events and
can generally be identified by the use of words such as “believe,”
“expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,”
“likely,” “may,” “should” or other words or phrases of similar
import. Similarly, statements that describe our business strategy,
outlook, objectives, plans, intentions or goals also are
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements we make regarding, and
the guidance we give with respect to, our anticipated operating or
financial results, initiation or completion of strategic
initiatives including our ability to realize the intended benefits
of the spinoff of our LoyaltyOne segment, future dividend
declarations, and future economic conditions, including, but not
limited to, market conditions and COVID-19 impacts related to
relief measures for impacted borrowers and depositors, labor
shortages due to quarantine, and reduction in demand from clients.
We believe that our expectations are based on reasonable
assumptions. Forward-looking statements, however, are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from the projections, anticipated results or
other expectations expressed in this release, and no assurances can
be given that our expectations will prove to have been correct.
These risks and uncertainties include, but are not limited to,
factors set forth in the Risk Factors section in our Annual Report
on Form 10-K for the most recently ended fiscal year, which may be
updated in Item 1A of, or elsewhere in, our Quarterly Reports on
Form 10-Q filed for periods subsequent to such Form 10-K. Our
forward-looking statements speak only as of the date made, and we
undertake no obligation, other than as required by applicable law,
to update or revise any forward-looking statements, whether as a
result of new information, subsequent events, anticipated or
unanticipated circumstances or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220321005864/en/
Bread Financial Brian Vereb – Investor Relations
614-528-4516 Brian.Vereb@alliancedata.com Shelley Whiddon –
Media 214-494-3811 Shelley.Whiddon@alliancedata.com Rachel
Stultz – Media 614-729-4890
Rachel.Stultz@alliancedata.com
Alliance Data Systems (NYSE:ADS)
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