November 19, 2015
Synchrony Financial is one of the top consumer financial services companies in the US, becoming a standalone entity as it separates from GE. It is the largest provider of private-label credit cards in the US based on purchase volume and receivables. Yesterday was a momentous day for the company as its executive leadership team rang the bell at the NYSE with its stock offering being the third-largest in history (behind Alibaba and AIG). The company sets itself apart by its ability to drive engagement, delivering deep differentiation, integration and omnichannel capabilities. Synchrony’s programs do more than fund the flow of goods and services between business customers and their consumers such as store credit cards to loyalty programs, analytics to marketing, the company brings its expertise to build relationships that last.
The LTP team had the pleasure of meeting CIO Carol Juel and CMO Toni White.
To start with, Carol shared with the LTP team the way she sees the private label card as a market:
Private label cards are a key part of a retailer’s strategy. At Synchrony we own the closed loop network that cards are processed on. And because you are in that network, there is a significant amount of data that can travel in that network. We describe our business as B2B2C. We have integrated teams that are co-located with our retail partners, and we are fully integrate with technology, marketing—we work to understan ...