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Synchrony (SYF) Opts for Tech Investment to Ease Online Checkouts
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Synchrony Financial (SYF - Free Report) has announced that it is pursuing a browser extension test for bringing about a streamlined checkout experience for its cardholders. This innovative idea was conceived during a “Bolt Session” with the Product Incubation Team of SYF, which is entrusted with the responsibility to make use of strategy, design and technology for devising products and solutions that accelerate business transformation. Its shares declined 1.9% on Jan 18, replicating declines in broader markets.
A browser extension refers to a small software application that integrates a feature within a web browser and enhances its capacity. The initial trial is carried out with SYF’s General Purpose Credit Cards on Chrome desktop browsers and if the test bears fruits, the enhanced capability will gradually bring more Synchrony credit cards under its radar.
To avail the benefit of the recent move, Synchrony General Purpose cardholders can use the Chrome Web Store to add the Synchrony browser extension to the Chrome browser. Following the verification of the cardholders’ credentials, a tokenized, virtual card number will be provided to them. The browser extension facility provides for an automatic prompt to use a Synchrony credit card at the time of the checkout, wherein the virtual card number needs to be furnished for conducting purchases and making hassle-free safe digital payments.
If successful, the latest move seems to be a win-win situation for Synchrony as well as its cardholders. As for Synchrony, it is expected to cement solid customer relationships, which in turn, may lead to bolstered credit lines, increased repeat sales and a greater customer lifetime value. The leading consumer finance company understands the need for technology investments, owing to the widespread adoption of digital means across every sphere of life and the associated risks that crop up with digital payments.
Rolling out such a unique browser extension feature will also enable SYF to attain a competitive edge over its peers. The facility will benefit consumers in the form of faster and more secure checkouts, thereby relieving them of longer waiting times and fear of loss of confidential data.
A differentiated and digitally-enabled product suite built through continual growth-related efforts, which can be either buyouts, partnerships or technology investments, empowers Synchrony to provide a safe and secure shopping experience to its consumers across every stage of the purchasing process. The strength of its digital capabilities is reflected in the fact that around 57% of SYF’s consumer-revolving applications were processed using a digital channel in 2022. This digital strength has often earned it new program agreements or renewed existing ones.
Its Product Incubation Team continues to test and experiment with products to assess the impact of emerging technologies on the lives of people in the days ahead. The team has examined cases for Generative AI, Web 3 and embedded finance in 2023.
Shares of Synchrony have gained 26.1% in the past three months compared with the industry’s 21.6% growth. SYF currently carries a Zacks Rank #3 (Hold).
The bottom line of Artisan Partners outpaced estimates in each of the last four quarters, the average surprise being 22.32%. The Zacks Consensus Estimate for APAM’s 2024 earnings suggests an improvement of 6.6%, while the consensus mark for revenues suggests growth of 4.6% from the respective 2023 estimate. The consensus mark for APAM’s 2024 earnings has moved 22.5% north in the past 30 days.
Euronet’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 4.74%. The Zacks Consensus Estimate for EEFT’s 2024 earnings suggests an improvement of 12.8%, while the consensus mark for revenues suggests growth of 7.8% from the corresponding 2023 estimate. The consensus mark for EEFT’s 2024 earnings has moved 0.1% north in the past 30 days.
The bottom line of Trinity Capital outpaced estimates in two of the last four quarters, matched the mark once and missed the same in the remaining one occasion, the average surprise being 4.15%. The Zacks Consensus Estimate for TRIN’s 2024 earnings suggests an improvement of 1.1% while the consensus mark for revenues suggests growth of 10.2% from the respective 2023 estimate. The consensus mark for TRIN’s 2024 earnings has moved 0.9% north in the past seven days.
Shares of Artisan Partners, Euronet and Trinity Capital have gained 23.7%, 17.9% and 4.1%, respectively, in the past three months.
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Synchrony (SYF) Opts for Tech Investment to Ease Online Checkouts
Synchrony Financial (SYF - Free Report) has announced that it is pursuing a browser extension test for bringing about a streamlined checkout experience for its cardholders. This innovative idea was conceived during a “Bolt Session” with the Product Incubation Team of SYF, which is entrusted with the responsibility to make use of strategy, design and technology for devising products and solutions that accelerate business transformation. Its shares declined 1.9% on Jan 18, replicating declines in broader markets.
A browser extension refers to a small software application that integrates a feature within a web browser and enhances its capacity. The initial trial is carried out with SYF’s General Purpose Credit Cards on Chrome desktop browsers and if the test bears fruits, the enhanced capability will gradually bring more Synchrony credit cards under its radar.
To avail the benefit of the recent move, Synchrony General Purpose cardholders can use the Chrome Web Store to add the Synchrony browser extension to the Chrome browser. Following the verification of the cardholders’ credentials, a tokenized, virtual card number will be provided to them. The browser extension facility provides for an automatic prompt to use a Synchrony credit card at the time of the checkout, wherein the virtual card number needs to be furnished for conducting purchases and making hassle-free safe digital payments.
If successful, the latest move seems to be a win-win situation for Synchrony as well as its cardholders. As for Synchrony, it is expected to cement solid customer relationships, which in turn, may lead to bolstered credit lines, increased repeat sales and a greater customer lifetime value. The leading consumer finance company understands the need for technology investments, owing to the widespread adoption of digital means across every sphere of life and the associated risks that crop up with digital payments.
Rolling out such a unique browser extension feature will also enable SYF to attain a competitive edge over its peers. The facility will benefit consumers in the form of faster and more secure checkouts, thereby relieving them of longer waiting times and fear of loss of confidential data.
A differentiated and digitally-enabled product suite built through continual growth-related efforts, which can be either buyouts, partnerships or technology investments, empowers Synchrony to provide a safe and secure shopping experience to its consumers across every stage of the purchasing process. The strength of its digital capabilities is reflected in the fact that around 57% of SYF’s consumer-revolving applications were processed using a digital channel in 2022. This digital strength has often earned it new program agreements or renewed existing ones.
Its Product Incubation Team continues to test and experiment with products to assess the impact of emerging technologies on the lives of people in the days ahead. The team has examined cases for Generative AI, Web 3 and embedded finance in 2023.
Shares of Synchrony have gained 26.1% in the past three months compared with the industry’s 21.6% growth. SYF currently carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks in the Finance space are Artisan Partners Asset Management Inc. (APAM - Free Report) , Euronet Worldwide, Inc. (EEFT - Free Report) and Trinity Capital Inc. (TRIN - Free Report) . Artisan Partners currently sports a Zacks Rank #1 (Strong Buy), and Euronet and Trinity Capital carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The bottom line of Artisan Partners outpaced estimates in each of the last four quarters, the average surprise being 22.32%. The Zacks Consensus Estimate for APAM’s 2024 earnings suggests an improvement of 6.6%, while the consensus mark for revenues suggests growth of 4.6% from the respective 2023 estimate. The consensus mark for APAM’s 2024 earnings has moved 22.5% north in the past 30 days.
Euronet’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 4.74%. The Zacks Consensus Estimate for EEFT’s 2024 earnings suggests an improvement of 12.8%, while the consensus mark for revenues suggests growth of 7.8% from the corresponding 2023 estimate. The consensus mark for EEFT’s 2024 earnings has moved 0.1% north in the past 30 days.
The bottom line of Trinity Capital outpaced estimates in two of the last four quarters, matched the mark once and missed the same in the remaining one occasion, the average surprise being 4.15%. The Zacks Consensus Estimate for TRIN’s 2024 earnings suggests an improvement of 1.1% while the consensus mark for revenues suggests growth of 10.2% from the respective 2023 estimate. The consensus mark for TRIN’s 2024 earnings has moved 0.9% north in the past seven days.
Shares of Artisan Partners, Euronet and Trinity Capital have gained 23.7%, 17.9% and 4.1%, respectively, in the past three months.