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Atlanticus Holdings Corporation reports developments as a financial technology company that enables bank, retail and healthcare partners to offer consumer credit products to everyday Americans. Its platform supports retail and healthcare private-label credit, general purpose credit cards, point-of-sale and point-of-care channels, direct mail, internet marketing and third-party partnerships.
Recurring news covers quarterly operating results, managed receivables, credit performance, portfolio purchases and the completed Mercury Financial acquisition. Updates also address securitization financing, integration of acquired portfolios, Auto Finance programs for independent automotive dealers and non-prime finance organizations, and dividends on the company’s Series B Cumulative Perpetual Preferred Stock.
Atlanticus Holdings Corporation announced key management changes effective March 18, 2021. Founder David Hanna transitions to Executive Chairman, while Jeff Howard, previously President, is promoted to Chief Executive Officer. Howard brings nearly 20 years of experience at Atlanticus. Under their leadership, the company has funded over $1 billion since the pandemic began, expanded its customer base to 1.6 million, and achieved a 12-month operating profit exceeding $84 million. These changes aim to enhance strategic initiatives and support underserved consumers.
Atlanticus Holdings Corporation (NASDAQ: ATLC) announced the appointment of Denise Hales Harrod and Joann Jones as independent Directors, expanding its Board to seven members. These additions aim to enhance the Board's skills and experiences, supporting Atlanticus in delivering financial solutions to over 90 million underserved consumers. Hales Harrod brings over 30 years of expertise in regulatory affairs, while Jones, a partner at BakerHostetler, has significant experience in real estate development. This strategic move is expected to facilitate growth and value creation for shareholders.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has appointed Matt Zalubowski as Senior VP of Marketing and Kurt Brown as Senior VP of Business Development. Zalubowski will focus on product marketing, leveraging his experience in retail credit development to enhance consumer solutions. Brown will lead business development across various sectors, drawing from 16 years at Alliance Data. Both appointments aim to strengthen Atlanticus's technology-enabled financial services, targeting over 90 million underserved consumers and expanding its partnerships and market offerings.
Fortiva Retail Credit, a technology-enabled consumer finance company, has partnered with the Home Furnishings Association (HFA) to enhance financing options for furniture retailers. This collaboration aims to provide shoppers with more financing solutions, particularly for those with credit scores below 700, facilitating incremental sales for HFA members. Retailers utilizing Fortiva's services have seen up to 25% of customers return for additional purchases. Fortiva's proven analytics and underwriting models enable instant credit decisions, helping merchants serve customers more effectively.
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