Who Needs Skies of Blue When There is GreenSky?

Past

In 2006, Atlanta-based GreenSky was founded. As a financial technology company, it provides technology solutions to banks and merchants, which in turn make consumer loans for a variety of purposes. The company does not make loans using its own capital. Instead, this internet-based company affords consumer financing for such needs as home remodeling and medical, dental, and veterinary services through its partnership with contractors, banks, and financial institutions. The company has even dabbled in furniture financing, though this is a tough market with several well-known competitors. Through its internet app, GreenSky matches customers in need of these services with financial resources. Not just any consumer will qualify as they may with some fintech companies, as guidelines require upper end credit scores and leave riskier consumer financing to its competitors.

Present

How does such a company fare? While not as well-known as some other financial lending companies, GreenSky is quite successful and stands to challenge similar companies. As it recently became publicly traded, this app-based fintech company saw greater initial stock sales than anticipated, an indicator that it just might fare better than its fellow publicly-traded internet-based competitors. Additionally, the company has experienced a promising increase in stock value.

Future

Just last month, GreenSky entered into a partnership with American Express, a move that should prove beneficial to both parties. While it will benefit from the large customer and merchant base that American Express currently has on hand, American Express will also benefit from accessibility to a multitude of current GreenSky merchants. This partnership stands to boost the company’s potential through added reach to new merchants. In fact, a significant increase is already apparent. With the promise of increased merchant and customer access, its continued merchant vetting process, and its partnerships with well known financial institutions, this number three fintech company has nowhere to move but up.

https://www.forbes.com/sites/greatspeculations/2018/09/05/greensky-now-looks-undervalued-given-strong-q2-performance-alliance-with-amex/#5d78658d5eda

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