Synechron Inc

Last updated
Synechron Inc.
Company type Private
Industry Information technology, Financial services, Consulting
Founded2001
Founders
  • Faisal Husain
  • Zia Bhutta
  • Tanveer Saulat
Headquarters New York City
Areas served
United States, United Kingdom, United Arab Emirates, India and 12 others
Key people
Faisal Husain, CEO [1]
Revenue$800 million [2]  (2021)
Number of employees
13,000
Website www.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, cards & payments and digital. [3]

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 centre of technology for clients interested in investing in technologies. [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 financial services consultancy that broadens Synechron's trading systems, data management, and risk and regulation practices. [21]

The London Synechron Digital Innovation Centre opened at their London headquarters 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]

Synechron announced the acquisition of Citihub Digital, a London and New York-based technology consulting firm on October 26, 2020. [34]

On 11 December 2021, Synechron acquired Attra, an Australia-based company. [35]

Locations

Synechron is based in New York with additional offices throughout the US including Piscataway, Charlotte, Dallas, Irvine, Brentwood and Fort Lauderdale. [36] The company is one of the largest independent pure-play technology consulting and outsourcing providers for the financial services industry [37] 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. [38] [2]

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