PROG Holdings and Infosys Forge Strategic Collaboration to Bring AI-Powered Experiences to Customers and Intelligent Automation to Operations
01 Mars 2024 - 2:00PM
Business Wire
PROG Holdings, Inc. (NYSE:PRG), the fintech holding company for
Progressive Leasing, Vive Financial, and Four Technologies, and
Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation
digital services and consulting, today announced an agreement that
is expected to evolve and scale PROG Holdings’ technology
operations as an integral part of the Company’s ongoing cloud- and
AI-focused technology modernization and innovation efforts.
The collaboration will enable PROG Holdings to take advantage of
Infosys’ digital services, including cutting-edge technologies,
which PROG Holdings believes will help it realize operational
efficiencies, accelerate technology enhancements, and improve speed
to market. The relationship is also expected to enhance and
innovate key PROG Holdings customer-and partner-facing technologies
and systems, helping to widen its leadership gap within the virtual
lease-to-own market.
PROG Holdings selected Infosys to assist on its technology
evolution and efficiency efforts, including AI initiatives, due to
Infosys’ ability to provide global access to top talent and
technology infrastructure that supports and augments the innovation
and efforts of PROG Holding’s internal technology teams.
Steve Michaels, President and CEO of PROG Holdings, said,
“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.”
Dennis Gada, Executive Vice President and Global Head of
Banking & Financial Services at Infosys, said, "We are
excited to bring robust domain knowledge along with transformative
AI capabilities using Infosys AI solutions like Infosys Topaz and a
cloud-first digital foundation to help PROG Holdings increase
market share of the virtual lease-to-own market. Our collaboration
will focus on accelerating the development and deployment of
technologies that offer operational excellence, agile innovation,
and improved services for new and existing retail partners and
customers.”
About PROG Holdings, Inc.
PROG Holdings, Inc. (NYSE:PRG) is a fintech holding company
headquartered in Salt Lake City, UT, that provides transparent and
competitive payment options to consumers. The Company owns
Progressive Leasing, a leading provider of e-commerce, app-based,
and in-store point-of-sale lease-to-own solutions, Vive Financial,
an omnichannel provider of second-look revolving credit products,
Four Technologies, a provider of Buy Now, Pay Later payment options
through its platform, Four, and Build, provider of personal credit
building products. More information on PROG Holdings and its
companies can be found at https://investor.progholdings.com/.
About Infosys Ltd.
Infosys is a global leader in next-generation digital services
and consulting. Over 300,000 of our people work to amplify human
potential and create the next opportunity for people, businesses
and communities. We enable clients in more than 56 countries to
navigate their digital transformation. With over four decades of
experience in managing the systems and workings of global
enterprises, we expertly steer clients, as they navigate their
digital transformation powered by cloud and AI. We enable them with
an AI-first core, empower the business with agile digital at scale
and drive continuous improvement with always-on learning through
the transfer of digital skills, expertise, and ideas from our
innovation ecosystem. We are deeply committed to being a
well-governed, environmentally sustainable organization where
diverse talent thrives in an inclusive workplace. Visit
www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help
your enterprise navigate your next.
Forward Looking Statements:
Statements in this news release that are not historical facts
are “forward-looking statements” that involve risks and
uncertainties which could cause actual results to differ materially
from those contained in the forward-looking statements. Such
forward-looking statements generally can be identified by the use
of forward-looking terminology such as “expected”, “believes”,
“will” and similar forward-looking terminology. These statements
include, but are not limited to, statements regarding the expected
benefits to PROG Holdings of its strategic collaboration with
Infosys, such as its realization of operating efficiencies,
accelerated technology modernization and improved speed to market.
The Company has based these forward-looking statements on current
expectations and assumptions regarding the strategic collaboration,
which are subject to risks and uncertainties, including, but not
limited to, the risks that the strategic collaboration may not
achieve its expected benefits or may otherwise negatively impact,
disrupt or have a material adverse impact on PROG Holdings’
business operations, and other risks and uncertainties outside of
our control. Additional risks and uncertainties that may cause
actual results to differ materially include those listed in the
Company’s filings with the Securities and Exchange Commission
(“SEC”), including the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2023, filed with the SEC on February
21, 2024. In providing forward-looking statements, the Company is
not undertaking any duty or obligation to update these statements
publicly as a result of new information, future events or
otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240301620148/en/
Investor Relations John A. Baugh, CFA VP, Investor
Relations john.baugh@progleasing.com
Media media@progholdings.com
Infosys (NYSE:INFY)
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