Synchrony

Ensuring the right people access the right resources at the right time

Identity & Access Management

Prove is the modern way for businesses to enable their customers to prove their identities with just a phone. Prove offers phone-centric solutions that enable its customers to acquire new consumers and engage with their existing consumers by removing friction while bolstering security, and enhancing consumer privacy and consumer choice.Prove's solutions are used by more than 1,000 businesses across diversified industries, including banks, financial services, healthcare, insurance, and e-commerce. Prove has two main solutions + MFA: • Prove Pre-fill™ for Onboarding &amp; Digital Acquisition, which helps companies increase signups and mitigate account opening fraud by authenticating consumer identities, and auto-filling verified data in any channel. • Fonebook™ for Digital Servicing, which helps companies: - Access a single identity authentication platform that reduces complexity and total cost of ownership to create a holistic view of your customer across their entire channels - Manage, add, and update customer phone numbers to ensure you always have the right number for your customer Multi-factor Authentication: - Standard SMS &amp; Voice OTPs - Instant Link™ (authenticate through SMS link without needing OTP) - Mobile Auth™ (authentication via cellular networks; passive method for passwordless login) - Voice Biometrics – Match against a consumer’s voice for authentication - Push Authentication – App-based method to prove Possession, can also pull in behavioral biometrics, device (PKI), and environmental (Wi-Fi, Bluetooth, network) signals - Secure transactions across multiple digital servicing use cases, including login, high-risk transactions, call center, and passwordless login.

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 Socure provides digital identity verification and fraud prevention solutions. The company has developed an AI-powered platform that leverages predictive analytics and machine learning techniques to verify identities in real time. Socure's platform uses over 17,000 features and 8 billion rows of data from diverse sources, including online and offline data intelligence, to deliver highly accurate identity assessments.
 
 
 Socure's proprietary identity verification graph analyzes and correlates every aspect of a digital identity, enabling the company to automate the verification process. The company offers several other products, including Sigma Identity Fraud for detecting synthetic fraud, DocV for automated document verification, and an accurate and inclusive KYC solution. Socure has also expanded its offerings globally, with services now available in Canada, the UK, and Europe.
 
 
 Key customers and partnerships
 
 
 As of May 2024, Socure served more than 2,300 customers across various sectors, including finance, gaming, healthcare, telecom, and ecommerce. Key customers include Chime, SoFi, Robinhood, Gusto, Public, Stash, and DraftKings, Poshmark, and Capital One.
 
 
 Funding and financials
 
 
 In March 2023, the company received a USD 95 million credit facility with J.P. Morgan, Silicon Valley Bank, and KeyBanc Capital Markets to strengthen its financial position.
 
 
 In 2021, it raised USD 100 million in a Series D funding round and USD 450 million in a Series E round. Its valuation for the Series E round was USD 4.5 billion.
 
 
 
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Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

Socure offers an automated machine learning and predictive analytics platform for enterprises to identify and prevent fraud. It offers a modular design and multiple products including anti-money laundering (AML) capabilities, through a single API. The platform primarily caters to industries that face a risk from “thin-file” clients, such as e-commerce firms, retailers, and lenders. The company has three offices in the US and one in Chennai, India.Socure uses a range of information sources to authenticate people including email, phone, address, social media, etc. from over 310 sources, and in August 2020 reported that its platform reduced fraud rates by about 80% and manual review costs by around 90%. The company <a href="https://sp-edge.com/updates/19717">acquired Berbix </a>, a platform that verifies identities by scanning IDs in real-time, in June 2023, and integrated Berbix in version 3.0 of its Predictive Document Verification service (DocV 3.0).Moreover, in July 2021, Socure launched what it claims to be the first identity verification and fraud solution built specifically for the Buy Now, Pay Later (BNPL) industry. The solution is built on the Socure ID+ platform and leverages deep identity and transaction data used by more than 100 BNPL providers, alternative payment providers, fintechs, banks, and credit card issuers.In October 2024, the company acquired Effectiv, a real-time risk decisioning company, for USD 136 million. The acquisition would combine Socure's digital identity verification and fraud solutions with Effectiv's AI orchestration and decisions platform.&nbsp;Key customers and partnershipsSocure’s customer base has grown to around 1,800 enterprises as of July 2023 across several industries, including financial services, government, gaming, healthcare, and telecom, among others. Socure noted that its platform was used by four of the top five banks, 13 of the top 15 card issuers, and over 250 FinTechs, as of March 2023.Socure <a href="https://sp-edge.com/updates/20255">partnered with digital lending platform MeridianLink </a>in July 2023. The solution combined Socure ID+ with MeridianLink One to help Meridian's customers, including credit unions, banks, and FinTechs, verify identities to onboard clients.

Buy Now, Pay Later

ChargeAfter operates a marketplace where consumers receive access to point-of-sale financing from multiple lenders. ChargeAfter’s financing can range between 6-48 months at 0% interest. The platform’s merchant footprint includes US retailers across the home appliances, furniture, mattresses, consumer electronics, and automotive verticals. In addition, ChargeAfter offers performance reporting and backend services for merchants to offer self-branded BNPL solutions. The company also integrates with major e-commerce platforms such as Shopify, WooCommerce, BigCommerce, and Magento. ChargeAfter reports an 85% approval rate and claims that merchants can increase average order values by 45% and sales by 30% using its platform.Key customers and partnershipsIn April 2021, ChargeAfter established a partnership with Quadpay (owned by Zip Co), in which it will offer the latter’s BNPL solutions its platform. In June 2021, it announced a similar partnership with the BNPL provider Splitit. I In April 2023, ChargeAfter announced its partnership with Canadian Buy Now Pay Later (BNPL) provider Tabit to expand its network of merchants in Canada.Previous partnerships include that with Visa (July 2020), to roll out its installment plan solution through ChargeAfter’s US platform, while ChargeAfter integration with Cybersource, Visa’s global payment management platform. ChargeAfter also partnered with Visa in February 2020, granting their network of sellers, acquirers and issuing banks the option of distributing point of sale financing and credit instruments to ecommerce and instore sellers globally via the ChargeAfter platform.2) MUFG (June 2020), to equip global ecommerce and brick-and-mortar retailers with tools to approve more applications for POS financing from multiple lenders in real-time.Funding and financialsIn its most recent funding round ( <a href="https://sp-edge.com/updates/9278">March 2022 </a>), ChargeAfter raised USD 44 million in a Series B funding round led by The Phoenix.

Treez is an enterprise cloud commerce platform that streamlines retail and supply chain operations within the cannabis market. Through its innovative technology for retailers and brands, the company provides a robust breadth and depth of software solutions required to operate a successful modern dispensary.   Solutions include point of sale, dispensary inventory management, and omnichannel sales capabilities all on a mission-critical platform that ensures regulatory compliance across every supply chain transaction. The innovative platform also connects essential brands with their retailers through a centralized brand catalog with real-time market insights. The extensible open API platform provides smooth integration into a variety of best-of-breed solutions, including CRM, marketplace, and data analytics across the partner ecosystem, giving retailers everything they need to grow their business.

flexEngage helps retailers personalize post-purchase communications, like receipts, to better engage with their most committed customers and drive additional sales. The company provides personalized transactional communications for retailers, enabling brands like Under Armour, GNC, Aldo, and Oakley to transform standard transactional touchpoints (receipts, order and ship notifications, packing slips, etc.) into dynamic engagement channels that drive loyalty and revenue. Amazon is destroying traditional retailers with their data and software because most retailers can't afford to build it on their own. So instead, retailers resort to wasting billions of dollars on ineffective marketing like Facebook ads to try and compete, while ignoring their most effective marketing channel, post-purchase communications. flexEngage provides retailers with Amazon-like software for their trillions of post-purchase communications, by turning static messages into a personalized marketing medium. As a halo effect, they are also creating the world’s largest database of consumers’ shopping behavior currently at 300 million transactions and 41m unique consumer profiles. flexEngage was founded in 2014 and is headquartered in Orlando, Florida, United States.

Fundbox is an AI-powered financial platform for small businesses that offer fast and intuitive access to business credit. The company is on a mission to empower the small business economy by unlocking customer growth. It is headquartered in San Francisco, California by co-founders Eyal Shinar, Tomer Michaeli, and Yuval Ariav in 2013.

ChargeAfter is the global multi-lender network for point-of-sale financing. Our platform connects retailers and lenders to offer responsible, personalized financing options for every consumer — all from a single application. Powered by a data-driven decisioning engine and network of global lenders, ChargeAfter delivers the most relevant financing offers to consumers from multiple lenders based on credit type – resulting in approvals for up to 100% of customer applications.  ChargeAfter streamlines the distribution of credit into a single platform that retailers can implement rapidly both online and in-store. The company’s growing lender network offers seamless integration to lenders seeking to grow their customer base while expanding into new retail markets.

Prove is a smartphone-based identity verification startup that specializes in providing phone-centric and API marketplace solutions. Its phone-centric solutions enable its customers to acquire new consumers and engage with their existing consumers by removing friction while bolstering security and enhancing consumer privacy and consumer choice.

Socure provides artificial intelligence for digital identity verification, fraud prevention, and sanction screening.

LoopPay is a widely accepted mobile payment provider, empowering consumers to finally leave their physical wallets at home, today. LoopPay’s patented Magnetic Secure Transmission (MST) technology turns existing mag stripe readers into mobile contactless readers without any charge or cost to merchants or their payment processors, enabling secure mobile payments at more than 10 million locations in the U.S.  Consumers can select from an array of devices that match their phones and fit their lifestyles, including the LoopPay Fob, ChargeCase, CardCase, and Card. In addition, all cards, including payment, gift, loyalty, reward and IDs, can be stored in one place via the LoopPay app, which offers utmost convenience and security, as all data is password and PIN-protected. LoopPay also encrypts and stores all card track data in secure memory within any device and is a Level One PCI Certified Payment Provider.

Synchrony offers expertise, partnership, and innovation to help businesses and customers achieve their unique ambitions. They offer financial services, consumer finance, payments, promotional financing, installment lending, savings products, banking, and online banking services.

<div> Synchrony Financial (NYSE: SYF) is a premier consumer financial services company headquartered in Stamford, Connecticut. Founded in 1932 as GE Capital Retail Bank, Synchrony was spun off from General Electric in 2014. The company offers a wide range of financial products and services, including credit cards, consumer banking, and commercial solutions. Synchrony's product suite encompasses: <ul> <li> Credit Services: Providing private label credit cards, dual cards, and co-branded credit cards for retail partners </li> <li> CareCredit: Offering promotional financing for healthcare expenses </li> <li> Loyalty Programs: Developing customized marketing and analytics programs for partners </li> <li> Synchrony Connect: Providing resources and insights to help small businesses grow </li> </ul> Synchrony has established itself as one of the largest providers of private label credit cards in the US. The company partners with major retailers and brands to offer store-branded and co-branded credit cards, including Amazon, JCPenney, Lowe's, and Walmart. As of December 2023, Synchrony reported USD 106.6 billion in assets. In May 2024, Synchrony announced a multi-year partnership with Virgin Red and Mastercard to launch a new US credit card program. The company continues to expand its digital capabilities and focus on innovative financial solutions. Synchrony remains committed to delivering value to its partners, customers, and shareholders through its diverse product offerings and technology-driven approach to consumer finance. </div>

Synchrony Financial

Synchrony double upgraded at Morgan Stanley on 'solid' consumer credit view

Synchrony Ventures

The providers plug into merchant checkouts and convert business purchases into installments.

These platforms integrate with the merchant’s e-commerce checkout and primarily offer the BNPL solution through their app. Consumers are restricted to shopping at merchants integrated with the provider in most cases.

These providers integrate with the merchant’s e-commerce checkout. The service is offered through the provider’s app or a virtual card that facilitates in-store application, including non-partnered retailers.

These companies offer merchants and financial institutions a white-label product to provide in-house BNPL solutions.

Synchrony Financial

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