New partnership allows Sezzle to offer long-term installments to its merchant and consumer customers.
Sezzle Inc. Installment payments platform, Sezzle, is pleased to announce its business partnership with Ally Lending, the B2B2C lending arm of Ally Bank, the banking subsidiary of Ally Financial. Ally Financial is a leading digital financial services company with US$184.1 billion in assets as of June 30, 2020.
Ally Lending enables monthly fixed-rate installment-loan products that extend up to 60 months in length and US$40k per installment plan through a fully digital application process. Ally lending is backed by the number one digital bank in the USA, Ally Bank. Ally’s fierce commitment to “Do Right” and “Obsess over the customer” has led to a customer NPS score of 68, demonstrating their commitment to the customer.
“Our collaboration with Ally Lending enhances our customer financing offerings, making it possible for consumers to better manage their finances,” said Charlie Youakim, Executive Chairman and CEO of Sezzle. “Ally’s dedication to its customers and commitment to innovation aligns with our own vision and culture – making this partnership a good fit for us.”
The culture, technology, and strong foundation of Ally Financial allow Ally Lending to continually evolve its financing products, services, and experiences while weathering economic storms.
The partnership between Ally Lending and Sezzle will give Sezzle merchants and shoppers access to long term financing options, complimenting Sezzle’s existing short-term, interest-free offering, without adding any balance sheet impact to Sezzle.
“We empathize with the economic situation millions of Americans now face,” stated Hans Zandhuis, President of Ally Lending. “We’re proud to partner with Sezzle to offer budget-friendly, responsible financing options, so consumers can feel more secure when making the purchases they need.”
This announcement was approved by the Company’s CEO and Executive Chairman, Charlie Youakim, on behalf of the Sezzle Inc. Board.