Rent-A-Center Unveils New Digital Platform to Accelerate Growth as the Lease-to-Own Landscape Evolves - Seite 2

Preferred Dynamix has launched an innovation partner program to pilot the digital platform and begin collaborating to develop additional proprietary capabilities to create a more frictionless end-to-end transaction experience across channels. These retailers are increasingly looking for new mechanisms to attract previously out of reach customer segments who could not access traditional financing options. Retailers now have a digital, LTO offering to increase their sales volume in the face of declining foot traffic due to the pandemic and have a significant impact on their bottom lines. Pilot retailers include Ashley HomeStore, American Tire Distributors, Value City Furniture, Bob’s Discount Furniture, Conn’s HomePlus, Rooms To Go, and Electronic Express.

"At Conn’s HomePlus, we are focused on continuous improvement of the customer service experience. By teaming up with Preferred Lease and their new Preferred Dynamix platform, we can streamline the experience of both our banked and unbanked customers to receive virtual leases on our hundreds of products, from home entertainment to furniture and appliances,” said Norm Miller, Conn's Chairman and CEO. “As technology continues to evolve, we are committed to offering easy-to-access and simplified shopping solutions for all of our customers, positively impacting the communities we serve.”

“At Value City Furniture, we believe everyone has the right to a well-furnished life, and we strive to offer a diverse set of financial solutions that meet the needs of all of our customers. Preferred Dynamix offers an LTO solution that a growing share of our customer’s want, and their new mobile application is making the approval process quick and easy,” said Hadley Hatch, Head of Finance Marketing, Value City Furniture. “Additionally, this new technology allows for a contactless in-store application experience, which is more imperative today than ever before. Preferred Dynamix identified this as a growing customer need and invested in the innovation necessary to address this behavioral change. As always, we truly appreciate the cutting-edge technology that Preferred Dynamix brings to our business.”

For more information about the Preferred Dynamix platform, please visit www.preferreddynamix.com.

About Rent-A-Center, Inc.

Rent-A-Center, Inc. (NASDAQ: RCII) is an industry leading omni-channel lease-to-own provider for the credit constrained customer. The Company focuses on improving the quality of life for its customers by providing access and the opportunity to obtain ownership of high-quality, durable products via small payments over time under a flexible lease-purchase agreement and no long-term debt obligation. Preferred Lease provides virtual and staffed lease-to-own solutions to retail partners in stores and online enabling our partners to grow sales by expanding their customer base utilizing our differentiated offering. The Rent-A-Center Business and Mexico segments provide lease-to-own options on products such as furniture, appliances, consumer electronics, and computers in approximately 2,000 Rent-A-Center stores in the United States, Mexico, and Puerto Rico and on its e-commerce platform, Rentacenter.com. The Franchising segment is a national franchiser of approximately 400 franchise locations. Rent-A-Center is headquartered in Plano, Texas. For additional information about the Company, please visit our website at Rentacenter.com or Investor.rentacenter.com.