Synchrony Expands Pet Care Financing, Simplifies Claims With Figo Deal

Synchrony Financial SYF has announced a new partnership with Figo Pet Insurance to enhance its pet health reimbursement solution. This deal is aimed at providing pet owners with a simpler and more convenient way to manage veterinary care costs.

Under this partnership, pet owners can use CareCredit to pay their vet bills upfront and then file an insurance claim. Once the claim is approved, the reimbursement from Figo is sent directly to the CareCredit account. This reduces the need for out-of-pocket payments and removes the hassle of manual reimbursements.

CareCredit is accepted at around 85% of enrolled veterinary clinics in the United States, and this deal expands Synchrony’s reach to over 1.2 million insured pets. The system is designed to make the claims process faster and smoother by directly reducing the customer’s outstanding balance, instead of making them wait for reimbursement.

This benefits pet owners by enabling quicker treatment decisions, while also helping veterinary clinics through more seamless payment processes.

For SYF, the main benefit comes from increased use of its CareCredit platform. As more pet owners finance their vet bills, Synchrony earns more through higher volume, interest income and fees. The partnership also helps bring in new customers from Figo’s user base and supports growth in loan receivables. Direct repayments into CareCredit accounts improve customer retention and encourage repeat usage.

SYF’s Stock Price Performance

Shares of Synchrony Financial have gained 24.9% over the past year, outperforming the industry’s decline of 20.2% during the period.

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SYF’s Zacks Rank & Key Picks

Synchrony Financial currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader finance space are Bank First Corporation BFC and Piper Sandler Companies PIPR, both sporting a Zacks Rank #1 (Strong Buy), while StoneX Group Inc. SNEX carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Bank First’s 2026 earnings is pegged at $10.35 per share, which has remained stable in the past 30 days. BFC beat earnings estimates in three out of the trailing four quarters and missed once, with the average surprise being 6.8%. The consensus estimate for 2026 revenues is pinned at $266.6 million, calling for 53.3% year-over-year growth.

The Zacks Consensus Estimate for Piper Sandler’s 2026 earnings is pegged at $4.63 per share, which has remained stable in the past 30 days. PIPR beat earnings estimates in each of the trailing four quarters, with the average surprise being 48%. The consensus estimate for 2026 revenues is pinned at $2 billion, calling for 5.1% year-over-year growth.

The Zacks Consensus Estimate for StoneX Group’s 2026 earnings is pegged at $5.27 per share, indicating 34.1% year-over-year growth. SNEX has remained stable over the past 30 days. Consensus estimate for 2026 revenues is pinned at $5.3 billion, implying 28.1% year-over-year increase.

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