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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References

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  2. 1 2 "Synechron - About Us". www.synechron.com. Retrieved 2017-06-17.
  3. 1 2 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. 1 2 3 4 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. ↑ "Synechron acquires Citihub Digital". Finextra Research. 2020-10-26. Retrieved 2023-02-06.
  35. ↑ Ltd, Synechron Technologies Pvt. "Synechron Acquires Attra". www.prnewswire.com. Retrieved 2023-03-10.
  36. ↑ IT consultant Synechron opens Houston office. Molly Ryan. August 17, 2012. Houston Business Journal. February 12, 2016.
  37. ↑ Synechron Digital Innovation Centre to open in the UAE. October 14, 2015. Zawya. February 12, 2016.
  38. ↑ Synechron buys US-based digital design firm usable. August 5, 2015. Consultancy.uk. February 12, 2016.
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