Snap Finance Appoints Ted Saunders as New CEO, Succeeding Founder and Current CEO Matt Hawkins

Hawkins will remain Executive Chairman, guiding Snap Finance as Saunders transitions into full leadership in early 2025

SALT LAKE CITY--(BUSINESS WIRE)--Snap Finance, a leading provider of innovative and flexible pay-over-time financing solutions, today announced that Ted Saunders will succeed Matt Hawkins as Chief Executive Officer. Hawkins, founder and current CEO, will transition to the role of Executive Chairman. This change is part of a strategic leadership transition plan, with Saunders set to fully assume the CEO role by January 1, 2025.

Matt Hawkins built a transformative legacy as the founder and CEO of Snap Finance, revolutionizing retail finance and serving over 5 million consumers since 2012. Under his leadership, the company has grown to over 900 employees and pioneered technology to help those with less-than-perfect credit get what they need. Now transitioning to Executive Chairman, Matt will continue to steer Snap's strategic direction while focusing on new projects that extend his commitment to innovation.

“With a proven track record of successfully leading other financial services companies over the years, Ted has been instrumental in steering educational programs tied to state and federal policies, championing consumer protection, and enhancing access to innovative financial services,” said Hawkins. “As the fintech landscape continues to rapidly evolve, I’m confident Ted can keep advocating for and developing innovative financial solutions that cater to the real-world needs of our customers and partners.”

Saunders brings a wealth of experience in the financial services sector, having held the position of Chairman and CEO at multiple leading financial institutions. His extensive leadership background underscores his profound influence and strategic acumen in the consumer financial services industry. Saunders also serves on several boards and has been a notable figure in several leading state and national consumer finance trade associations.

“Snap is such a great company, built on a strong cultural belief that its mission is to improve its customers’ lives,” said Saunders. “The current economic environment is especially difficult for credit-challenged consumers and now is the perfect time to offer a suite of products, with our merchant partners, designed to lift people up and improve their financial outcomes. I am personally humbled and thrilled to assume the CEO position from such a talented founder. The future is bright at Snap Finance.”

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About Snap Finance

Snap Finance harnesses the power of data to empower consumers of all credit types to get what they need. Launched in 2012, Snap’s technology utilizes more than a decade of data, machine learning, and nontraditional risk variables to create a proprietary platform that looks at each customer through a more holistic lens. Snap’s lease-to-own and loan solutions are changing the face and pace of consumer retail finance. For more information, visit snapfinance.com.