Minneapolis, MN, U.S.
(Chief Legal Counsel)
(Global Head of Product Solutions)
(Global Head of Relationship Management)
(Global Head of Sales, Marketing & Business Development)
Mary Jo Jordan
(Chief Customer Officer)
(Director of Human Resources)
Number of employees
A joint venture between Visa and U.S. Bancorp, Syncada launched in July 2009. U.S. Bank was Syncada’s first bank customer. Commerce Bank was the second to join the network in 2010. In March 2011, Citibank became the third bank to use the network.
However, US Bank has bought back the shares of Syncada from Visa and Syncada is being functionalized within US Bank Corporate Payments Group.
Syncada’s creation stems from PowerTrack, an online platform for invoice processing, payment and trade financing, launched by U.S. Bancorp in 1997. In 2009, U.S. Bancorp divested PowerTrack in order to create With the support of Visa, Syncada became an independent B2B payment network offered by banks to clients for processing, paying, and financing invoices.
Syncada's solution is offered by the following banks:
In January 2010, Syncada named Kurt Schneiber Chief Executive Officer. He joined from Fortent, an anti-money-laundering software provider, where he was President. He received recognition as one of Treasury & Risk's most-influential people in finance for 2011. Schneiber also has prior experience at Citi. In September, it named Kay LaBare Chief Information Officer.
Products and Services
- "Visa and US Bank form financial supply chain network". Finextra. July 30, 2009.
- Newmarker, Chri s (October 18, 2010). "Syncada signs on Commerce Bancshares". Minneapolis/St. Paul Business Journal.
- Busch, Jason (September 5, 2013). "Visa Exits Syncada Relationship". SpendMatters.
- "What is Syncada, and what happened to PowerTrack?". Daycos News. April 20, 2010.[dead link]
- "Citigroup's Global Reach Helps Validate Syncada's Model". American Banker.
- Newmarker, Chris (October 18, 2010). "Syncada signs on Commerce Bancshares". Minneapolis/St. Paul Business Journal.
- "News release: Syncada Names Kurt Schneiber Chief Executive Officer" (PDF).[dead link]
- "News release:Syncada CEO, Kurt Schneiber, Named One of Treasury & Risk’s Top 100 Most Influential People in Finance of 2011" (PDF).[dead link]
- "News release:Syncada Names Kay LaBare as New Chief Information Officer" (PDF).[dead link]
- "LinkedIn: Company Overview".
- "News Release: Syncada Processes Record $2 Billion in Payments During August 2011" (PDF).[dead link]