Synchrony

The credit card lender responded to the closing of Toys R Us stores last year by issuing Synchrony-branded cards to the retailer's customers. Now it's testing a general-purpose card with a wider array of clients.

PayPal’s latest move to jolt Venmo’s revenue is a co-branded credit card developed with Synchrony — something that challenger banks and fintechs may rush to compete against.

The retailer and credit card giant are rolling out two new card offerings. The move could hit especially close to home for CUs with branches inside Walmart locations.

Venmo’s P2P social payment app has become a major part of PayPal’s retail strategy, a play that’s getting a boost from a Synchrony co-branded credit card.

Even as her company invests heavily in cutting-edge technologies designed to improve service and efficiency, Keane is making sure that Synchrony is also investing in educating and training employees whose jobs are at risk of disappearing.

The launch of the products comes more than a year after Capital One wrested the Walmart partnership from Synchrony Financial.

When Amazon was busy driving traffic to its site — and the likes of Walmart and Best Buy were aggressively trying to pull shoppers away — it also invited several issuers to compete to be the top-of-wallet card for Prime Day spending.

After rising between 2016 and 2018, the card issuer's charge-off rates are now steady. The trend reflects both the impact of tighter underwriting standards and the continued resilience of U.S. consumers.

"Truist" was roundly mocked when it was unveiled as the name of the merging BB&T and SunTrust, but it’s hardly the first bank moniker to elicit a "huh?" from critics.

Targeting consumers with poor or thin credit, Amazon is offering a secured card with rewards on par with those offered to mainstream cardholders.

A year after it debuted, Bank of America's virtual assistant now counts some 150,000 users per week. It's one of the few large financial institutions pushing such technology.

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

New posts for two women executives at JPMorgan Chase spur a fresh round of speculation about the race to succeed CEO Jamie Dimon someday. And Comerica's heir apparent finally gets the call.

Among his many responsibilities in the newly created role, Brian Doubles will be in charge of expanding Synchrony's direct-to-consumer banking business.

Banks say easing rules on people with some criminal records will diversify the applicant pool; deal with Synchrony may be near.

Measures of loan performance were generally better than expected at Ally, American Express, Synchrony and Sallie Mae. Their 1Q reports suggest that consumers remain able to meet their obligations despite a long run-up in debt.

There’s currently a focus on investing in technology and data to remain competitive, but financial firms also need to ensure they are helping workers adapt, argues Synchrony’s Margaret Keane.

There’s currently a focus on investing in technology and data to remain competitive, but financial firms also need to ensure they are helping workers adapt, argues Synchrony’s Margaret Keane.

Reports of improper charges by perpetrators who know the victim soared last year. Issuers and card networks are failing to tighten security, clearly label transactions and police chargebacks, critics say.

The bank and card program provider is starting to use AI in many areas, but it's also trying to build paths forward for employees whose jobs will be affected.