Synechron Inc

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]

Synechron Inc.
TypePrivate
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
Websitewww.synechron.com

History

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, Chennai 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

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
  1. Peter Economy. "5 Tips for Making the Friend/Business Partner Dynamic Work". Inc. Retrieved August 4, 2015.
  2. "Synechron - About Us". www.synechron.com. Retrieved 2017-06-17.
  3. "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. 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.
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