Synchrony acquires credit access platform Versatile Credit

[Synchrony Office Building, Charlotte]
J. Michael Jones

Synchrony Financial (NYSE:SYF [https://seekingalpha.com/symbol/SYF]) acquired Versatile Credit [https://seekingalpha.com/pr/20252116-versatile-credit-bringing-leading-credit-access-platform-to-synchrony], a consumer-financing software provider, in an effort to accelerate its "technology roadmap" for consumer financing solutions, the company said on Wednesday.

Terms of the deal weren't disclosed, and the acquisition is expected to be immaterial to Synchrony's (NYSE:SYF [https://seekingalpha.com/symbol/SYF]) EPS.

Versatile connects customers of merchants and healthcare providers with a set of lending products across multiple prime, secondary, and tertiary lenders.

"Versatile's platform sits at the forefront of consumer financing, ultimately driving more sales for merchants and expanded access to credit for consumers," said Maran Nalluswami, executive vice president and chief strategy and business development officer at Synchrony.

Synchrony (NYSE:SYF [https://seekingalpha.com/symbol/SYF]) plans to maintain Versatile's business strategy, management structure, and data integrity, it said.

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