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Synchrony Financial (SYF - Free Report) unveiled transformation plans within the organization. The initiatives are aimed to diversify the company’s portfolio and effectively implement its strategies. These will likely keep it well on track for long-term growth.
The changes have also been incorporated to strengthen the partner network and promote customer loyalty.
Firstly, the company added two platforms, taking the total count to 5. It intends to arrange its partner portfolios across the platforms namely Digital, Health & Wellness, Home & Auto, Diversified & Value, and Lifestyle. It will use innovation, data, skills and scale to bolster its capabilities. This will result in an enhanced suite of digitally-backed consumer financing and payment products.
Secondly, the move tends to construct a Growth Organization. This comprehensive unit will bring the company’s marketing, data, analytics, customer experience, and product-development teams under a single umbrella.
Further, Synchrony Financial will integrate the Technology and Operations teams. By working closely, the company will be able to offer services through a channel per consumers’ choice.
Thereby, the diversified needs of partners will be more effectively addressed through improved access to the company’s resources. At the same time, the transformation plans are intended to offer a hassle-free customer experience. Beside these, the second and third initiatives reflect the company’s constant endeavors to bolster its digital products and capabilities.
Over time, Synchrony Financial has emerged to be the leading private label credit card issuer across the United States. It tied up with Mastercard Incorporated (MA - Free Report) and Walgreens in 2021 to issue credit cards for Walgreens. The cards will be powered by the Mastercard network. Not to forget, Synchrony Financial’s digital endeavors are reflected in its alliance with PayPal Holdings, Inc. (PYPL - Free Report) for providing credit card programs with digital and mobile payment options.
Synchrony Financial has been undertaking a series of acquisitions and renewal of alliances with several payment solution partners. A strong digital arm, comprising upgraded consumer financing solutions, has made the company the preferred choice for partners and consumers. Some of the notable renewals include those with CITGO, Ashley HomeStore, 4 Wheel Parts and Mattress Firm.
Zacks Rank & Price Performance
Shares of this Zacks Rank #3 (Hold) company have soared 106.7% in a year compared with the industry’s rally of 3.1%.
Virtu Financial delivered a four-quarter earnings surprise of 30.04%, on average.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Synchrony Financial (SYF) Undergoes Transformation Plans
Synchrony Financial (SYF - Free Report) unveiled transformation plans within the organization. The initiatives are aimed to diversify the company’s portfolio and effectively implement its strategies. These will likely keep it well on track for long-term growth.
The changes have also been incorporated to strengthen the partner network and promote customer loyalty.
Firstly, the company added two platforms, taking the total count to 5. It intends to arrange its partner portfolios across the platforms namely Digital, Health & Wellness, Home & Auto, Diversified & Value, and Lifestyle. It will use innovation, data, skills and scale to bolster its capabilities. This will result in an enhanced suite of digitally-backed consumer financing and payment products.
Secondly, the move tends to construct a Growth Organization. This comprehensive unit will bring the company’s marketing, data, analytics, customer experience, and product-development teams under a single umbrella.
Further, Synchrony Financial will integrate the Technology and Operations teams. By working closely, the company will be able to offer services through a channel per consumers’ choice.
Thereby, the diversified needs of partners will be more effectively addressed through improved access to the company’s resources. At the same time, the transformation plans are intended to offer a hassle-free customer experience. Beside these, the second and third initiatives reflect the company’s constant endeavors to bolster its digital products and capabilities.
Over time, Synchrony Financial has emerged to be the leading private label credit card issuer across the United States. It tied up with Mastercard Incorporated (MA - Free Report) and Walgreens in 2021 to issue credit cards for Walgreens. The cards will be powered by the Mastercard network. Not to forget, Synchrony Financial’s digital endeavors are reflected in its alliance with PayPal Holdings, Inc. (PYPL - Free Report) for providing credit card programs with digital and mobile payment options.
Synchrony Financial has been undertaking a series of acquisitions and renewal of alliances with several payment solution partners. A strong digital arm, comprising upgraded consumer financing solutions, has made the company the preferred choice for partners and consumers. Some of the notable renewals include those with CITGO, Ashley HomeStore, 4 Wheel Parts and Mattress Firm.
Zacks Rank & Price Performance
Shares of this Zacks Rank #3 (Hold) company have soared 106.7% in a year compared with the industry’s rally of 3.1%.
Stocks to Consider
A better-ranked stock in the same space is Virtu Financial, Inc. (VIRT - Free Report) , which carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Virtu Financial delivered a four-quarter earnings surprise of 30.04%, on average.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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