Alliance Data (NYSE: ADS) today announced it will now be known as Bread Financial, a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions.
After a multi-year transformation to streamline its business model, Bread Financial has emerged as a modern financial services company backed by technology and platform solutions that empower today’s consumer. The company’s prior market-facing brands are now unified under the singular, cohesive Bread Financial brand.
“This is a turning point for the company, as our new brand represents the strategic direction of our business transformation to a modern, tech-forward financial services company,” said Ralph Andretta, president and chief executive officer, Bread Financial. “Combining the heart and hustle of a fintech with the discipline and stability of a well-established bank, Bread Financial will remain laser focused on delivering the innovative, omni-channel payment, lending and saving solutions that consumers now demand at every stage along their financial journeys.”
Built on the principles of choice, ease and trust, Bread Financial provides simple, personalized solutions that empower consumers to buy, borrow and save their way, including proprietary direct-to-consumer credit cards and deposits. Bread Financial also drives growth and loyalty for its partners through a digitally-enabled, white-label product suite that includes private label and co-brand credit cards, installment loans and buy now, pay later (BNPL).
“While we are changing our name and brand, as well as broadening our strategic focus to include more direct-to-consumer products, the foundational elements that drove our decades-long success will remain intact,” said Val Greer, executive vice president and chief commercial officer, Bread Financial. “Specifically, this milestone starts with our associates – the heart of our company – and our customer-focused, results-driven, award-winning culture. We will continue to build on our 30-year legacy of creating value for our partners, and as we transform, we will continue investing in data and analytics, innovative technology, and digital capabilities that meet the needs of our partners and consumers.”
Bread Financial’s parent company is now Bread Financial Holdings, Inc, formerly Alliance Data Systems Corporation (NYSE: ADS). The company’s common stock will begin trading under a new ticker symbol – BFH – on the New York Stock Exchange on April 4, 2022. Bread Financial’s two bank subsidiaries – Comenity Bank and Comenity Capital Bank – will retain their current names.