Enhanced Multi-Year Partnership Aims to Drive Merchants' and
Partners' Business Growth with Seamless Customer Experience
STAMFORD, Conn. and ATLANTA, June 26,
2024 /PRNewswire/ -- Synchrony (NYSE: SYF)
announced today an enhanced partnership with Atlanticus Holdings
Corporation (NASDAQ: ATLC). Atlanticus, through its bank
partnerships, facilitates second look point-of-sale consumer credit
programs spanning general purpose credit cards, private label
credit cards, and installment loans predominately under the Fortiva
brand. This enhanced partnership will deliver Synchrony merchants
and partners a preferred second look financing solution designed to
easily offer more customers access to credit, helping to increase
merchants' sales and brand loyalty.
Under this multi-year partnership, the program managed by
Atlanticus will be the preferred second look financing solution for
private label credit cards and installment loan products across
Synchrony businesses. Synchrony merchants, including small
businesses, healthcare providers and retail partners, will now have
a streamlined enrollment process, a system that prioritizes ease of
use and security, and favorable merchant pricing with
Atlanticus.
"Synchrony and Atlanticus have partnered since 2019 to support
merchants across industries in maximizing their growth potential by
responsibly offering financing solutions to more customers," said
Florin Arghirescu, senior vice president and chief product
officer at Synchrony. "This partnership aligns with our
mission to help merchants and providers build loyalty through
flexible products, capabilities and a great customer
experience."
The availability of this solution is expected to attract a
broader customer base, including those financially underserved and
those interested in general purpose credit cards, private label
credit cards and installment loan product offerings made available
through the program. This partnership will enable consumers who may
not receive offers from Synchrony to obtain an instant second look
for a credit or financing product.
"We are excited to expand our partnership with Synchrony to be
the preferred second look financing platform for private label
credit cards and installment loan products," said David Caruso, chief commercial officer at
Atlanticus. "This partnership furthers the ability to offer
inclusive financial solutions, allowing our merchant partners to
say, 'yes' more often."
For more than 25 years and through multiple economic cycles,
Atlanticus has leveraged proprietary analytics and innovative
technology to enable its bank partners to offer fair credit
products to meet the financial needs of everyday Americans.
This partnership is designed to allow customers who demonstrate
responsible usage and repayment behavior over time the opportunity
to graduate to a Synchrony credit product when
appropriate.
Since 2019, Synchrony has offered multi-source financing
solutions to merchants and partners across the enterprise in the
form of private label credit cards, general purpose credit cards
and short term and long-term installment loan products through one
seamless, digital application.
Learn more about this partnership and how to enroll at
www.syf-frc.com.
About Synchrony
Synchrony (NYSE: SYF) is a
premier consumer financial services company delivering one of the
industry's most complete digitally-enabled product suites. Our
experience, expertise and scale encompass a broad spectrum of
industries including digital, health and wellness, retail,
telecommunications, home, auto, outdoor, pet and more. We have an
established and diverse group of national and regional retailers,
local merchants, manufacturers, buying groups, industry
associations and healthcare service providers, which we refer to as
our "partners." We connect our partners and consumers through
our dynamic financial ecosystem and provide them with a diverse set
of financing solutions and innovative digital capabilities to
address their specific needs and deliver seamless, omnichannel
experiences. We offer the right financing products to the
right customers in their channel of choice. For more information,
visit www.synchrony.com.
About Atlanticus Holdings Corporation (NASDAQ:
ATLC)
Empowering Better Financial Outcomes for Everyday Americans
Atlanticus' technology allows bank, retail, and healthcare
partners to offer more inclusive financial services to everyday
Americans through the use of proprietary analytics. We apply the
experience gained and infrastructure built from servicing over 20
million customers and $40 billion in consumer loans over
our more than 25 year operating history to support lenders that
originate a range of consumer loan products. These products include
retail and healthcare private label credit and general purpose
credit cards marketed through our omnichannel platform, including
retail point-of-sale, healthcare-point of-care, direct mail
solicitation, internet-based marketing, and partnerships with third
parties. Additionally, through our CAR subsidiary, Atlanticus
serves the individual needs of automotive dealers and automotive
non-prime financial organizations with multiple financing and
service programs.
Media Contacts
Synchrony
Lisa Lanspery
Lisa.Lanspery@syf.com
Atlanticus
Investor Relations
investors@atlanticus.com
770-828-2000
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SOURCE Synchrony Financial