Synchrony Financial history, profile and corporate video
Synchrony Financial is a consumer financial services company headquartered in Stamford, Connecticut, U.S. It can trace its roots to 1932, when GE Capital Retail Bank was started during the Great Depression, with the purpose to provide a line of credit for customers to purchase GE appliances.
GE Capital Retail Bank was spun off from its parent company in June 2014.
GE filed with the Securities and Exchange Commission on March 13, 2014, announcing its intention to spin-off the portion of its GE Capital business dedicated to retail credit cards. GE’s SEC filing indicated that the new company would be called Synchrony Financial.
The company operates through the following businesses: Credit Services, CareCredit, Loyalty Programs, and Synchrony Connect.
The Credit Services segment offers private label credit cards, dual cards & general purpose co-branded credit cards, and installment loans.
The CareCredit segment provides promotional financing for consumers who can use the health, wellness and personal care credit card at health-focused retailers and for procedures at healthcare practices, including dental, veterinary, vision, cosmetic, chiropractic, hearing-health, primary care, day and medical aesthetic spas, medical specialists and ancillary services.
The Loyalty Programs segment involves customized marketing and risk programs, sophisticated analytics, and results-driven optimization. All the platforms help to engage the customers and build differentiated offers for them.
The Synchrony Connect segment provides important tips, industry trends and best practices that can help Small Businesses to grow, lead and manage their business.
With more than 16 000 employees, Synchrony Financial is considered one of the largest providers of private label credit cards in the U.S. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.synchrony.com”.
**Video published on YouTube by “Synchrony“.