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Equipifi and Synergent Join Forces

In a groundbreaking announcement, equipifi, a leading Buy Now, Pay Later (BNPL) platform, has partnered with Synergent, a trusted managed services provider and strategic host for the Jack Henry™ Symitar® core processing platform. This collaboration aims to empower credit unions using Synergent’s services to seamlessly launch their own BNPL offerings through their digital banking applications.

The initiative targets enhancing the consumer experience by enabling credit union members to split their larger purchases into manageable installment loans. With changes in consumer spending habits and a growing preference for flexible payment options, this partnership addresses a pressing demand in the marketplace.

Synergent has been a key player in providing innovative solutions to credit unions for over two decades, offering access to the Symitar® platform along with integrated payment and marketing strategies. The introduction of BNPL programs through equipifi's technology allows credit unions to leverage their existing knowledge of member financial needs, aligning BNPL offers with the goals and preferences of their clients. This strategic move not only boosts member engagement but also helps credit unions to drive revenue, responding to the evolving expectations in the financial landscape.

Rebekah Higgins, Vice President of Strategic Partnerships at Synergent, stated, "Members are asking for Buy Now, Pay Later options, and equipifi is the right partner for us to be able to offer this critical service to credit unions who already work with Synergent." The emphasis on aligning with member needs highlights the core mission of credit unions to prioritize member service.

Bryce Deeney, CEO and co-founder of equipifi, echoed this sentiment by saying, "The popularity of credit union BNPL programs is driven by members who prefer to access financial flexibility from an institution they know and trust." The expectation is that this partnership will significantly expand the reach of BNPL solutions accessible to U.S. consumers.

Market forecasts project that BNPL services will experience rapid growth, with a compounded annual rate of 25.5% from 2022 to 2026, reflecting changing shopping trends and preferences. In fact, equipifi itself has reported a staggering 750% increase in financial institutions utilizing its platform within the past year, as credit unions and banks recognize the importance of offering this popular payment option.

About Equipifi

Equipifi stands at the forefront of the BNPL market, providing a versatile platform designed specifically for financial institutions in the United States. Their white-label technology integrates seamlessly with major banking cores and digital platforms, enhancing user engagement and facilitating greater revenue streams while aligning payment solutions with consumers’ purchasing habits. To learn more about their offerings, visit equipifi.com.

About Synergent

Established in 1971 by credit unions, Synergent is a managed services provider that specializes in innovative core processing solutions, payments technology, and marketing support. With their commitment to serving credit unions, Synergent ensures that clients have access to the best products and services available, allowing them to focus on delivering exceptional experiences to their members. More information can be found at synergentcorp.com.

The collaboration between equipifi and Synergent signifies an important step in the evolution of financial services, providing tools that empower consumers while reinforcing the value of community-focused institutions.