Synechron, Inc. today announced the launch of its Data Monetization Accelerator program. The program offers a suite of building block solutions that aims to help retail and commercial banks, asset managers, and financial services institutions unlock the full potential of their data. Synechron’s innovative tools leverage analytics and derive insights to identify revenue opportunities and implement key strategies for monetizing their data, while preserving data privacy, security, governance, and management. This is the 10th Accelerator program Synechron has launched since September 2016.
The new Data Monetization Accelerator program was driven through the collaboration of Synechron’s innovation team members and Data Practice experts who, together, deliver industry-leading experiences and solutions. This program offers four real-world, advanced data solutions to help companies solve key challenges and address the emerging needs of the global financial services industry.
Synechron is excited to launch its latest Accelerator program after recently being named a winner of the 2023 BIG Innovation Awards by Business Intelligence Group for its previous PayTech Accelerator program. This annual award celebrates new ideas brought to life through organizations’ creativity and passion. This is the fourth time Synechron has won the BIG Innovation Awards competition for its Accelerator programs and marks the firm’s 33rd overall innovation-focused global award.
The new future-forward and customizable suite of Data Monetization Accelerator solutions includes:
- Data Marketplace & Clean Rooms for Portfolio Analytics – A platform offered by banks to their clients to explore and shop banks’ proprietary data, blend it with internal and external data, then run custom analytics on cloud-hosted private clean rooms to glean rich portfolio insights.
- Merchants Recommendations – Helping Banks and Payment Processors deliver business and market insights to their Merchant clients through data-driven, actionable views and trends for better informed decision making.
- Fraud Operational Intelligence – Helping Banks monetize daily fraud reports by sharing fraud case summary intelligence with other Banks and Financial Institutions in near-real-time to proactively limit the impact of future fraud transactions.
- Financial Wellness – Equipping Retirement Advisors to open a dialogue and discuss with their clients with retirement plans, post-retirement wealth goals by relying on personal finance forecasting.
Faisal Husain, Synechron’s Co-founder and CEO, Synechron, said at the launch of the Data Monetization Accelerator program, “As a leader and true believer in the benefits of digital transformation, we are constantly striving to create innovations that not only solve key business challenges but will facilitate business leaders to identify new opportunities.”
Sandeep Kumar, Head of Synechron’s FinLabs and Accelerator programs commented, “Our clients are respected leaders in their business, and they are already strategizing new ways to optimize their data. Our overarching goal is to help them accelerate their innovation agenda initiatives through our new suite of data monetization solutions. This will allow them to build on their momentum and drive new opportunities.”
All of Synechron’s 80 Accelerator program tools and solutions have been developed collaboratively across global operating units and with teams of 300+ experts in the firm’s 13 proprietary and award-winning Financial Innovation Labs (‘FinLabs’). Synechron continues to self-fund the research and development necessary to ideate, invent and test innovative solutions that tackle today’s business problems, add digital applications, and work to increase business efficiencies and opportunities for companies. Synechron’s FinLabs also offer an Innovation-as-a-Service platform which includes a cloud-native and customized virtual sandbox.