Strategic Partnership Streamlines Financing for Retailers
Snap Finance and STORIS partner to provide streamlined and integrated financing at the point of sale.
SALT LAKE CITY (Jan. 10, 2019) – STORIS, the leading Unified Commerce Solution provider to the home furnishings industry, and Snap Finance, a Utah-based innovator in lease-to-own financing have partnered to enable retailers to better meet the credit needs of customers at the point of sale.
The partnership provides furniture retailers a streamlined, integrated point of sale solution that will allow retailers currently using STORIS point of sale software solutions to offer their customers Snap Finance’s flexible no-credit financing.
“Partnering with financial services companies, such as Snap Finance, enables STORIS’ home furnishings retailers to offer additional options to serve more customers,” said Marybeth Feeney, STORIS director of application development. “Integrating Snap Finance with our Finance Queue offers extended credit options and expedites the approval process.”
Badcock & More Home Furniture, a Furniture Today Top 100 retailer, is among the first to take advantage of this new partnership, rolling out the integration to Snap Finance through the STORIS Finance Queue across their 300+ locations.
“Adding Snap Finance as an additional credit option for our customers has been a positive experience for us, and our initial results are very encouraging,” said Dave Gonyea, SVP of credit services and AR management at Badcock. “Snap Finance is very customer focused, which aligns nicely with our values, and they work together with us as true partners. The support they have provided from a relationship standpoint has exceeded our expectations.”
With flexible options and a 100-day cash payoff, Snap Finance provides a unique approach to consumer financing. Using a proprietary artificial intelligence platform, Snap Finance approves up to 80 percent of consumers unable to secure traditional financing.
“Our mission is to provide a better option for as many people as possible who may not qualify for traditional financing,” Snap Finance CEO Matt Hawkins said.
In addition to providing more options and greater flexibility, the partnership will also maximize revenue for retailers.
“Partnering with STORIS exemplifies our mutual commitment to making things as easy as possible for both retailers and consumers alike,” Snap Finance Executive Vice President Ryan Slobodian said.
Adding Snap’s industry-leading capital funding capacity, rigorous compliance infrastructure, world-class support teams, and unmatched data science-based decisioning platform to a streamlined integration will create a turnkey mechanism for maximizing customer-focused revenue growth.
About Snap Finance
Snap Finance is a Utah-based innovator in delivering fast, flexible, and friendly lease-to-own financing. As the largest independently owned lease-financing company, Snap Finance serves more than 12,000 eCommerce and brick-and-mortar merchants in the tire, furniture, and mattress industries. The company is revolutionizing access to financing through its proprietary artificial intelligence platform aimed at helping as many credit disadvantaged people as possible. Founded in 2012, Snap Finance is headquartered in the tech hub of Salt Lake City. For more information, visit snapfinance.com