Core Insights - Synchrony has acquired Versatile Credit, a consumer financing software firm, to enhance its capabilities in retail and healthcare financing [8] - The acquisition is expected to improve customer loan approval rates through "waterfall financing," which can lead to increased sales for merchants [5][6] - Versatile generates annual revenue between $10 million to $15 million and has been a partner of Synchrony for about 15 years [7] Company Overview - Synchrony has approximately $119 billion in assets and collaborates with around 400,000 merchants, including major retailers like Lowe's and Sam's Club [3] - Versatile Credit, founded in 1995 and based in Mechanicsburg, Pennsylvania, enables retailers and healthcare providers to offer financing options to customers both in-store and online [8] Strategic Implications - The acquisition allows Synchrony to leverage Versatile's reporting capabilities and integration with merchant systems to adapt to evolving market demands [4][5] - Synchrony's commitment to innovative technology aims to drive sales for merchants and expand credit access for consumers [6]