Synechron Inc

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Synechron Inc.
Private
IndustryInformation technology, Financial services, Consulting
Founded2001
Founders
  • Faisal Husain
  • Zia Bhutta
  • Tanveer Saulat
HeadquartersNew York City
Areas served
United States, United Kingdom, United Arab Emirates, India and 12 others
Key people
Faisal Husain, CEO[1]
Revenue$500 million[2] (2016)
Number of employees
8,000+[2]
Websitewww.synechron.com

Synechron Inc. is a New York-based information technology and consulting company focused on the financial services industry including capital markets, insurance, banking and digital.[3]

History[edit]

Synechron was founded in 2001 by Faisal Husain, Zia Bhutta and Tanveer Saulat.[3][4] In 2007, the company acquired 110 Technologies, a testing services company.[5] Synechron acquired SysCore Solutions, a technology strategy and data architecture company, in 2008.[5][6]

In 2012, Synechron opened offices in Houston, Texas[7] and Plantation, Florida.[8] Synechron acquired Esquire Systems, an IT consulting company, that same year.[5][9] It acquired Double Effect, an Amsterdam and Singapore-based management consulting firm which would operate as an independent company, in April 2013.[10]

In September 2013, Synechron partnered with software company Cloudera.[11] In February 2014, the company opened a new facility in Pune, India,[3][12] and an office in Dallas, Texas later that year.[13] In April 2014, Synechron announced it would be expanding its presence in Bangalore and Hyderabad.[14][15]

Synechron announced the purchase of Team Trade, a Paris-based software integration and consulting firm, in January 2015.[5][16] Team Trade continued to operate as an independent company after the acquisition.[5] In August 2015, Synechron acquired usable, a digital design firm based in Brooklyn.[17] In September 2015, Synechron acquired Crossbridge, a London-based financial services and consulting firm.[18]

The company opened Synechron Digital Innovation Centre in Dubai in October 2015, as a center of technology for clients interested in investing in technology.[19] Synechron rebranded in 2016 with the launch of its new website and new "Power of Three" strategy, covering digital, business and technology-based services.[20] In May 2016, Synechron announced the acquisition of Hatstand, a global consulting and technology company for financial service industry that broadens Synechron's cybersecurity, market data and risk and regulatory compliance.[21]

The London Synechron Digital Innovation Centre opened in May 2016.[22][23] The centre holds full and half-day sessions as well as technology workshops.[24] Synechron announced its collaboration with Ethereum's production studio ConsenSys and BlockApps, and launched its blockchain accelerator program in September 2016 with six modular applications.[25][26]

Synechron released AI applications for financial services in April 2017 under the name Neo.[27] In May 2017, Synechron partnered with Microsoft Azure and released its blockchain accelerator applications in the Azure marketplace.[28] The company announced a collaboration with Quantexa to launch anti-money laundering, fraud detection and trader surveillance efforts in July 2017.[29] That same month, the company also added its ninth FinLab, designed to promote digital innovation in financial technology, in Charlotte, N.C.[30] In August 2017, the company released an open source utility tool for Enterprise Ethereum Alliance members to help developers create applications on the Quorum platform.[31]

In November 2018, Synechron launched 11 AI data science accelerators for the banking, financial services and insurance (BFSI) sector[32]  and a new financial innovation lab (FinLab) in Singapore.[33]

Locations[edit]

Synechron is based in New York with additional offices throughout the US including Piscataway, Charlotte, Dallas, Irvine, Brentwood and Fort Lauderdale.[34] The company is one of the largest independent pure-play technology consulting and outsourcing providers for the financial services industry[35] with over 8,000 employees across 18 countries including USA, Canada, UK, France, The Netherlands, Switzerland, Luxembourg, Serbia, Hungary, Germany, Italy, UAE, Singapore, Hong Kong, Philippines, Japan, Australia and India.[36][2]

References[edit]

  1. ^ Peter Economy. "5 Tips for Making the Friend/Business Partner Dynamic Work". Inc. Retrieved August 4, 2015.
  2. ^ a b c "Synechron - About Us". www.synechron.com. Retrieved 2017-06-17.
  3. ^ a b c "Synechron strengthens presence in Pune". Business Standard. February 28, 2014. Retrieved August 4, 2015.
  4. ^ "What it takes to be a successful fintech start-up". CNBC. 28 April 2017. Retrieved 6 January 2018.
  5. ^ a b c d e Bhawna Gupta (January 8, 2015). "Synechron acquires French IT consulting firm Team Trade". VC Circle. Retrieved August 4, 2015.
  6. ^ "Synechron announces launch of new office in Dubai Media City". India Mart. January 31, 2013. Retrieved August 4, 2015.
  7. ^ Molly Ryan (August 17, 2012). "IT consultant Synechron opens Houston office". Houston Business Journal. Retrieved August 4, 2015.
  8. ^ Ashley D. Torres (October 26, 2012). "Synechron Adds to Broward Technology Cluster". South Florida Business Journal. Retrieved August 4, 2015.
  9. ^ "NY firm acquires Esquire Systems". Trade Arabia. March 4, 2012. Retrieved August 4, 2015.
  10. ^ "Synechron to acquire Double Effect". The Hindu Business Line. April 24, 2013. Retrieved August 4, 2015.
  11. ^ "Synechron Is Now a Cloudera Partner". Money Control. September 5, 2015. Retrieved December 29, 2015.
  12. ^ "Synechron strengthens presence in Pune with launch of its new facility". Free Press Journal. Retrieved August 4, 2015.
  13. ^ Ganguly, Chawm (January 9, 2014). "Synechron Opens Eighth US Office in Dallas, Second in the State of Texas". Core Sector Communique. Retrieved December 29, 2015.
  14. ^ "Synechron to invest $35 million for creating development centres in India". The Economic Times. April 28, 2014. Retrieved November 4, 2015.
  15. ^ KV Kurmanath. "Synechron enters Hyderabad, Bangalore to be 'closer to clients'". The Hindu Business Line. Retrieved November 4, 2015.
  16. ^ Robert Barba (January 8, 2015). "IT Firm Synechron Buys French Consulting Group". American Banker. Retrieved August 4, 2015.
  17. ^ "Synechron buys US-based digital design firm usable". Consultancy.uk. August 5, 2015. Retrieved November 4, 2015.
  18. ^ Tanaya Macheel (October 6, 2015). "Synechron Buys London Financial Services Firm in Fintech Push". American Banker. Retrieved November 4, 2015.
  19. ^ Flanagan, Ben (November 1, 2015). "Future of UAE Banking: Talking ATMs, Holographic Cashiers". The National. Retrieved December 29, 2015.
  20. ^ "Synechron wants to triple global operations in 5 years". Consultancy.UK. 1 March 2016. Retrieved 6 July 2016.
  21. ^ Banerjee, Niloy (12 May 2016). "Synechron buys Hatstand to Digitalize Financial Firms". BisInfoTech. Retrieved 6 July 2016.
  22. ^ "Digital Innovation Centre Launches in London". Finance Monthly. 25 June 2016. Retrieved 6 July 2016.
  23. ^ "Synechron opens digital innovation centre in London, 2nd globally". Consultancy.uk. May 30, 2016. Retrieved September 26, 2016.
  24. ^ Alex Hamilton (May 26, 2016). "Synechron opens London-based digital innovation centre". IBS Intelligence. Retrieved September 26, 2016.
  25. ^ Ian Allison (October 25, 2016). "ConsenSys, Synechron and BlockApps collaborate". International Business Times. Retrieved February 15, 2017.
  26. ^ Ungerleider, Neal (April 25, 2017). "The Global Financial World Is Banking on Blockchain. Synechron Explains Why". Fast Company. Retrieved August 3, 2017.
  27. ^ Brown, Eileen (April 20, 2017). "Synechron's Neo AI Delivers Artificial Intelligence for the Financial Services Industry". ZD Net. Retrieved August 3, 2017.
  28. ^ Lambert, Rebecca (May 23, 2017). "Synechron Launches Blockchain Apps on the Microsoft Azure Marketplace". TheRecord. Retrieved July 24, 2017.
  29. ^ Grygo, Eugene (July 6, 2017). "Synechron, Quantexa Collaborate to Exploit Data Science". FTF News. Retrieved August 3, 2017.
  30. ^ Gailey, Alex (31 July 2017). "How This Technology Firm Has Grown in Charlotte". Charlotte Business Journal.
  31. ^ Mizrahi, Avi (14 August 2017). "Synechron Releases Quorum Maker for the Enterprise Ethereum Alliance". Finance Magnates.
  32. ^ "Synechron launches AI data science accelerators for FS firms". Finextra Research. 2018-10-22. Retrieved 2018-12-24.
  33. ^ "Synechron opens financial innovation lab in Singapore". Finextra Research. 2018-11-07. Retrieved 2018-12-24.
  34. ^ IT consultant Synechron opens Houston office. Molly Ryan. August 17, 2012. Houston Business Journal. February 12, 2016.
  35. ^ Synechron Digital Innovation Centre to open in the UAE. October 14, 2015. Zawya. February 12, 2016.
  36. ^ Synechron buys US-based digital design firm usable. August 5, 2015. Consultancy.uk. February 12, 2016.

External links[edit]