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Synchrony Financial (SYF) Enhances NATDA Member Benefits

·4 min read

Synchrony Financial SYF along with The North American Trailer Dealers Association (NATDA) recently came up with the NATDA membership benefit, which will provide better consumer finance options and incentives to dealerships in the trailer industry. Notably, Synchrony Financial is the platinum sponsor of NATDA.

It is worth mentioning that NATDA helps the light and medium-duty trailer industry by connecting dealers, manufacturers and suppliers through several platforms.

The latest move is expected to enable more consumers to buy new and used trailers and trailer tools with feasible payment options.

Rationale Behind the Move

Active dealer members who are enrolled in the Synchrony plan will have access to various incentives if they go for Synchrony Financial for their trailer-related transactions.

The enrolled members will gain an edge with the company’s unique, mobile-responsive Business Center technology. This helps people with 24/7 consumer credit decisions and detailed business dashboard, among others, which aid them in understanding and managing their financing options. Moreover, its Advertising Center will help them with in-store and online marketing materials that, in turn, will aid them promote and push financing options on social media and other means.

The move is a time opppurtune one as it comes when people are struggling to find revenue sources. It is more than just a seamless transaction option. The company intends to actively help members to grow and establish their businesses by generating more traffic, which in turn converts to customers. It also helps in gaining customer loyalty, which eventually leads to repeat sales.

It recently expanded its consumer financing program deal with US Home furnishings company Ashley HomeStore Ltd, with the help of which Ashley HomeStore customers can utilize the company's competitive financing, subject to credit approval. It also renewed its collaboration with America’s leading specialty mattress retailer Mattress Firm. Notably, the partnership, which was formed in 2015, offers a private label credit card program in aid of customers of Mattress Firm and its family brands.

Through the extended collaboration, customers of Mattress Firm can avail of the benefits of Synchrony Financial's financing programs and solutions while making online and in-store purchases at 2,400 Mattress Firm stores across the United States.

Through its differentiated solutions and an intensified focus on customers, the company also offers safe and secured shopping to its consumers across every stage of their purchasing process.

It is worth mentioning that the enhanced payment and financing solutions of Synchrony Financial made it a preferred choice of partner for those that wish to augment their business prospects and provide a hassle-free customer experience.

All these initiatives position the company well for growth.

Zacks Rank and Price Performance

Shares of this Zacks Rank #2 (Buy) company have rallied 48.7% in the past six months against the industry’s decline of 3.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Companies in the same space, such as Oaktree Specialty Lending Corp. OCSL, American Express Company AXP and Discover Financial Services DFS have also gained 25%, 35% and 67%, respectively, in the same time frame.

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American Express Company (AXP) : Free Stock Analysis Report

Discover Financial Services (DFS) : Free Stock Analysis Report

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Oaktree Specialty Lending Corp. (OCSL) : Free Stock Analysis Report

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