February 2, 2021

02 February 2021 / 7:00 PM / Teams

ATTENDEES#

Synchrony Financial, E-Board, and Members

Synchrony Financial
- Spun off from GE capital
- 90 years of history
- $150B in financed sales
- Values: Honest. Passionate. Caring. Responsible. Bold. Driven
- 75 Million active customers
Synchrony Innovation Stations
- 4 Innovation Stations (Analytics, Digital (b2b/Merchant,Native/Mobile), Enterprise Operations)
- 100% agile development
- 60+ Bolt Sessions (Rapid prototyping sessions)
- 20+ Hackathons
- 40+ Product Launches
- 50 Pending Patents
Experience Center Innovation Station (Stamford, CT)
- Identify changes disruptive to Synchrony & clients
- Innovation Horizons
  - Incremental -> Breakthrough -> Disruptive
- Voice Technology to pay off credit card bills
Innovation Case Study - Direct to Device
- People didn’t want to open credit card accounts and there was some friction points found by Synchrony
  - Discomfort in sharing personal personal information
  - Fear of being declined publicly
  - They want to apply at their own schedule
- Went through 3 stages: Concept, MVP Pilot, In-Market
- Direct-to-device API
  - Integrated with mPOS
  - Integrated QR codes at POS