SALT LAKE CITY & BANGALORE, India – PROG Holdings, Inc. (NYSE:PRG), a fintech holding company, has announced a strategic collaboration with global consulting and digital services provider Infosys (NSE, BSE, NYSE: NS:INFY). This partnership is aimed at advancing PROG Holdings' technology operations through cloud and AI-driven modernization.
The alliance is set to leverage Infosys' expertise in digital services to drive operational efficiencies, expedite technology advancements, and enhance the speed to market for PROG Holdings. The collaboration is also anticipated to innovate and improve upon PROG Holdings' customer and partner-facing technologies, reinforcing its position in the virtual lease-to-own market.
PROG Holdings has chosen Infosys for its global reach in top-tier talent and technology infrastructure, which complements the internal technology teams at PROG Holdings. Steve Michaels, President and CEO of PROG Holdings, expressed optimism about the partnership's potential to refine key systems, increasing market agility and scalability.
Dennis Gada, Infosys' Executive Vice President and Global Head of Banking & Financial Services, highlighted the expected benefits of the collaboration, including robust domain knowledge and transformative AI capabilities. Infosys aims to assist PROG Holdings in enhancing market share and improving services for retail partners and customers.
PROG Holdings, headquartered in Salt Lake City, UT, owns Progressive Leasing, Vive Financial, Four Technologies, and Build, all of which provide various payment solutions to consumers.
Infosys, with over three decades of experience, offers digital services and consulting, enabling clients in over 56 countries to undertake digital transformations powered by cloud and AI technologies.
The press release includes forward-looking statements regarding the expected benefits of the partnership to PROG Holdings, such as operational efficiencies and improved technology deployment. However, these statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
This strategic collaboration is based on a press release statement and further details on the partnership can be found in PROG Holdings' recent SEC filings.
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