Synechron Launches Digital Ecosystems Accelerators Monday, October 28, 2019 - New York, London, Paris, Amsterdam, Dubai, Pune, Bangalore, Hyderabad, Chennai
Accelerator program enables shared, digital platforms for a collaborative, partner-led approach to financial services business operations, infrastructure, and experience transformation
Synechron Inc., a leading Digital Consulting firm for financial services, has today announced the launch of its Digital Ecosystem Accelerators for the financial sector. These solution prototypes respond to growing customer demands for real-time digital experiences and the bank’s facing challenging growth conditions, to deliver new business models. Ecosystems orchestrate many participants to co-create value for their clients, leveraging a symbiotic relationship between their capabilities. Banks stand to benefit from the acceleration of more open, API-driven, low-friction and interoperable platforms by increasing their monetization of existing customers, building stronger customer profiles, and hence improving retention rates with more customized services.
Synechron’s Digital Ecosystem program consists of five Accelerator solutions across Retail Banking, Wealth Management, Corporate Banking and Capital Markets. By drawing on Synechron’s Digital, Business Consulting and Technology expertise, these prototypes reflect the future investment direction of these banking segments and respond to real business opportunities and pain points. The Accelerators use cutting-edge, emerging technology solutions to offer a forward-looking approach that taps into a bank’s scale, data and partner network to combat the growth of non-bank competitors.
The Digital Ecosystem Accelerators are Synechron’s seventh Accelerator program launched in the last three years. Others include Blockchain, AI Automation, InsurTech, RegTech, AI Data Science and Wealth Tech, which have each grown into industry-recognized Centers of Excellence with award-winning solutions.
"Companies have the opportunity to secure a competitive advantage against FinTechs and startups who are gaining market share over the traditional banking, advisory and insurance industries, by looking at how they can leverage their tremendous data, scale and partner networks to leapfrog a digital platform strategy straight into a digital ecosystem strategy,” said Faisal Husain, Co-founder and CEO of Synechron. "To help our clients capitalize on this opportunity, we have developed a number of Ecosystem Accelerators which bring together multiple participants to co-create value. Utilizing the power of data consolidation and data science, the Digital Ecosystem brings network participants new intelligence, allows them to reduce operating costs and increase customer proximity; all of which enables continuous engagement."
Tim Coates, Head of Digital Ecosystems said, "At Synechron, we are focused on innovation and digital transformation to help our clients thrive in challenging business conditions. We believe banks will be investing significantly into Ecosystem business models. Many large-scale initiatives will focus on reducing the friction between collaborating with vendors, FinTechs and even rival banks to deliver better customer outcomes and improve the bank’s return on equity. Business agility will also be a focus through major upgrades in microservices APIs and the Cloud as well as cultural shifts in customer-centricity. I am excited to work with our clients to create the future of financial services customer experiences at scale."
The Digital Ecosystem Accelerators include:
Synechron is a leading Digital IT Consulting firm for financial services, Accelerating Digital for financial institutions by providing innovative solutions to the financial services industry through its three main business focus areas: digital, business consulting, and technology. Based in New York, the company has 18 offices around the globe, with over 8,000 employees producing over $500+M in annual revenue. For more information please visit the our LinkedIn community.
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