PROG Holdings partners with Infosys to accelerate technology modernization and innovation
In a strategic move poised to redefine the fintech landscape, PROG Holdings, Inc. (NYSE:PRG), a pioneering fintech holding company encompassing Progressive Leasing, Vive Financial, and Four Technologies, has joined forces with Infosys (NSE, BSE, NYSE: INFY), a global powerhouse in next-generation digital services and consulting. This collaboration marks a significant milestone in PROG Holdings’ journey towards technology modernization and innovation, focusing on cloud and AI technologies to enhance its operational and market efficiencies.
The alliance is set to transform PROG Holdings’ technology operations fundamentally, leveraging Infosys’ extensive expertise in digital services. This includes the application of cutting-edge technologies anticipated to streamline operations, boost technology advancements, and enhance market responsiveness. A key aspect of this partnership is its potential to refine and innovate customer and partner interfaces within PROG Holdings’ offerings, further establishing its dominance in the virtual lease-to-own sector.
Selecting Infosys as a collaborator underscores PROG Holdings’ commitment to its technological evolution, emphasizing AI-driven initiatives. Infosys stands out for its global reach in top-tier talent and a robust technology infrastructure, aiming to complement and elevate PROG Holdings’ internal technology capabilities.
Steve Michaels, President and CEO of PROG Holdings, encapsulated the essence of this partnership, stating, “We look forward to working with Infosys to develop and enhance key systems that positively impact the speed to market, agility, and scalability of key PROG Holdings technologies and platforms. We expect our collaboration with Infosys will reduce friction for both our customers and retail partners, further solidifying PROG Holdings’ position atop the virtual lease-to-own industry we helped create twenty-five years ago.”
Echoing this sentiment, Dennis Gada, Executive Vice President and Global Head of Banking & Financial Services at Infosys, expressed enthusiasm about the collaboration. He highlighted the ambition to deploy Infosys’ robust domain knowledge and transformative AI capabilities, notably through Infosys AI solutions like Infosys Topaz and a cloud-first digital foundation. This collaboration aims to enhance PROG Holdings’ market share and operational excellence, ensuring agile innovation and superior services for retail partners and customers alike.
The strategic partnership between PROG Holdings, Inc. and Infosys represents a significant leap forward in fintech innovation, highlighting the critical role of AI and cloud technologies in driving the industry’s future. This collaboration not only underscores the companies’ commitment to operational excellence and market agility but also sets a new benchmark for technological advancements in the virtual lease-to-own market. With these efforts, PROG Holdings is poised to reinforce its market leadership, demonstrating the transformative power of strategic technology partnerships in the fintech sector.