Ikano Bank wins contract to deliver retail finance solutions to ScS

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Ikano Bank has won a three-year contract to deliver retail finance solutions to ScS, the nationwide sofa and flooring specialist who operate from 100 stores across the UK.

The bank will provide ScS with a set of services and flexible point of sale products, including interest free credit with 6 to 48 month payment terms.

The win comes as Ikano Bank continues to grow its presence in the home furnishings and retail space. It already counts DFS and IKEA among its retail partners.

Ikano Bank’s dedicated insight team will work closely with ScS to measure 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 UK head office in Nottingham, provides smart retail finance to more than 100 retailers including Vision Express, Karen Millen and Oasis. The bank is also targeting growth, looking to further expand into home furnishings, home improvements and leisure.  Ikano Bank has also recently been awarded by Moneyfacts ‘Best Personal Loan Provider’ 2017.

It recently launched a whitepaper, Instant Credit: delivering customer choice and incremental growth, which examines trends and new developments in retail finance.