Ikano Bank has secured a three-year contract to deliver retail finance solutions for ScS, the nationwide sofa and flooring specialist.
The bank will provide a set of services and flexible point-of-sale products to ScS, including interest-free credit with the option of six- to 48-month payment terms.
Ikano already holds contracts with DFS and Ikea in the home furnishings sector as well as other retail partners.
Ikano Bank’s dedicated insight team will work closely with ScS to analyse how the retail finance offer is performing, the profile of applicants and how current finance products could be improved to enhance the customer experience.
Andy Paver, head of UK partner loans at Ikano Bank, said: “ScS is one of the UK’s best-known furniture and flooring retailers, with strong heritage and brand recognition.
“Simple, responsible and effective point-of-sale finance solutions are an increasingly integral part of the mix for retailers looking to encourage customer engagement and loyalty.
“Our partnership with ScS will allow the retailer to continue to deliver excellent in-store experiences and a strong post-sales support service.”
Ikano Bank – which has its head office based in Nottingham – has provided smart retail finance to more than 100 retailers, including Vision Express, Karen Millen and Oasis.
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Atom introduces first-time buyer range
Atom bank has launched new first-time buyer products and extended its existing range by adding 95% LTV mortgages across all its existing mortgage products.
Charity Bank names new chief executive
Charity Bank has announced that Edward Siegel (pictured above) will become its new chief executive.
Investec relaunches flexible E-asy access account
Investec Savings has announced the relaunch of its E-asy access account with a new rate.
Temenos launches AI-based capability to protect banks from fraud
Temenos has expanded its financial crime mitigation product to include an AI-based suspicious activity prevention solution protecting banks and their customers from fraud.
Welsh businesses secure £68m from development bank
The Development Bank of Wales has reported that it has increased investment in Welsh businesses by £11.5m.
Leek United Building Society launches exclusive BTL product
Leek United Building Society has introduced a two-year buy-to-let fixed rate product available exclusively to TMA Club for directly authorised advisers.
What can we learn from the tech C-suite?
There has always been a cultural tension between IT and businesses.
Banco BNI Europa partners with Lendrock
Banco BNI Europa has announced a partnership with Lendrock to invest in the Spanish auto financing sector.
Secure Trust Bank joins Connect panels
Secure Trust Bank has joined the panel of Connect for Intermediaries mortgage network and the latter’s packaging arm.
Aldermore trains 500 brokers
Specialist bank Aldermore has trained its 500th broker through its training academy.