Synchrony and Sweetwater Extension – GuruFocus.com
STAMFORD, Connecticut and FORT WAYNE, Ind., May 24, 2022
Synchrony’s advanced Direct to Device and PreQualification technologies use analytics to simplify and personalize the customer experience;
Companies are increasing data sharing to better market music lovers
STAMFORD, Conn. and FORT WAYNE, Ind., May 24, 2022 /PRNewswire/ — Synchrony (NYSE: SYF), a leading consumer financial services company, and Pure water, the leading e-commerce provider of musical instruments and audio equipment in the United States, today announced an extension of its strategic partnership to further transform Sweetwater’s funding program.
“Pure water is a trusted partner for music enthusiasts, professional musicians and sound engineers,” said John HopkinsCEO of Pure water. “It means understanding their buying needs and providing easy financing options and a simple and fun buying process. Synchrony’s technology helps us do all of these things. We are very excited to extend our partnership.”
The synchrony and Pure water The partnership will focus on driving growth through enterprise data sharing and digital transformation of payment solutions. Pure water will continue to integrate data sharing and Direct to device from Synchrony and prequalification capabilities under the company’s private label credit card program, simplifying the application and purchase process. Data sharing allows for improved personalization and credit decision. Direct to Device is a simple and secure way to Pure water to send a credit application directly to a customer’s mobile device via email or SMS, while prequalification allows customers to verify credit eligibility without affecting their credit score. Together, these features provide a seamless, private, and secure customer experience for applying for credit.
“Over the past 14 years, Synchrony has helped Pure water turning musical dreams into reality by offering multiple ways to fund purchases,” said Darrell Owens, Senior Vice President, Synchrony. “We fit perfectly into Sweetwater’s transformational digital purchasing process using enhanced customer data and scalable credit decision capabilities. This results in closer customer relationships, which leads to increased card acquisition, larger lines of credit, additional repeat sales, and higher customer lifetime value. We look forward to providing even greater capabilities to this innovative retailer in the years to come.”
To find out more about financing Pure water products and services, visit www.sweetwater.com.
About Sweetwater Sound
Founded in 1979, Pure water is the leading e-commerce provider of musical instruments and audio equipment in the United States. The company is respected as the premier national retailer serving musicians, recording studios, broadcast, education and places of worship. Sweetwater’s customers can be found wherever music is heard and audio is played, broadcast or recorded, including recording, film and broadcast studios in New York, Nashville, Los Angeles, Chicagoand Miami; in hundreds of thousands of home recording studios; and in schools and churches across the country. Sweetwater’s The foundation and meteoric growth is built on knowledgeable and experienced staff, exceptional selection and pricing, and most importantly, an unwavering commitment to customer service excellence in all situations. For more information, visit Sweetwater.com.
Synchrony (NYSE: SYF) is a leading consumer financial services company with one of the most comprehensive digital product suites in the industry. Our experience, expertise and scale spans a wide range of industries including digital, health and wellness, retail, telecommunications, home, automotive, powersports, pets company 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, who 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 meet their specific needs and deliver seamless omnichannel experiences. We offer the right financing products to the right customers in the channel of their choice.
FOR MORE INFORMATION PLEASE CONTACT:
Michelle Blaya Romero
(800) 222-4700 ext. 1030
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