Synchrony and ServiceTitan Join Forces to Streamline Home Improvement Financing
Rhea-AI Summary
Synchrony and ServiceTitan have partnered to integrate Synchrony financing into ServiceTitan's platform for contractors, streamlining the home improvement financing process. This collaboration aims to reduce friction, increase sales, and provide a seamless financing experience for customers.
Positive
Integration of Synchrony financing into ServiceTitan's platform will streamline the financing process for contractors, making it easier to offer financing options to customers.
The partnership will help businesses across industries by simplifying the sales process and providing more financing options to customers, ultimately improving customer satisfaction.
Synchrony's direct-to-device application process and pre-fill technology will enhance the efficiency of the financing application process, benefiting both contractors and customers.
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News Market Reaction
On the day this news was published, SYF declined 1.61%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
ServiceTitan Will Offer Synchrony Financing Within its Software Platform to Reduce Friction and Aid in Closing Sales for Contractors
"Contractors love ServiceTitan because it intuitively handles their workflow and that makes it easier to close business and increase sales," said Curtis Howse, Executive Vice President & Chief Executive Officer, Home & Auto, Synchrony. "Teaming up with ServiceTitan will make the sales process seamless, helping businesses across industries as well as the customers they serve."
Through this new partnership, Synchrony will enable contractors in the field to offer customers the option to apply for financing through ServiceTitan's software platform, leveraging Synchrony's direct-to-device application process and pre-fill technology. After a customer applies, the contractor will receive the application response and, upon approval, will be able to proceed with the sales process—all within ServiceTitan.
"Our top priority at ServiceTitan is providing contractors with the solutions they need to grow their business while delivering the best customer experience possible," Anmol Bhasin, Chief Technology Officer, ServiceTitan. "Through our new partnership with Synchrony, we are able to offer our customers even more options when it comes choosing a financing process."
Synchrony currently serves tens of thousands of businesses in the home improvement sector, many of which already use ServiceTitan, and the new partnership creates the opportunity to serve those partners better with ServiceTitan's industry-leading platform.
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 customers in their channel of choice. For more information, visit www.synchrony.com.
About ServiceTitan
ServiceTitan is a cloud-based software platform built to power trades businesses. The company's end-to-end solution gives contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience. By bringing an integrated SaaS platform to an industry historically underserved by technology, ServiceTitan is equipping tradespeople with the technology they need to keep the world running. ServiceTitan is backed by world-class investors including Battery Ventures, Bessemer Venture Partners, Coatue, CPP Investments, Dragoneer Investment Group, Durable Capital Partners LP, Generation Investment Management, ICONIQ Growth, Index Ventures, Sequoia Capital, Thoma Bravo, TPG, and T. Rowe Price.
Contact:
Lauren Devilbiss
Synchrony
lauren.devilbiss@syf.com
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SOURCE Synchrony
FAQ
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