Synchrony Financial is a consumer financial services company that provides a range of credit products, including private label, dual, co-branded, and general purpose credit cards, as well as short- and long-term installment loans and consumer banking products. The company connects partners and consumers through its financial ecosystem and offers financing solutions and digital capabilities. Synchrony operates through a single business segment and manages its credit products through five sales platforms: Home & Auto, Digital, Diversified & Value, Health & Wellness, and Lifestyle. The company's business model aligns its interests with those of its partners and provides value to both partners and customers. Synchrony differentiates itself through deep industry expertise, a long history of consumer lending, innovative digital capabilities, and a diverse product suite. The company's digital capabilities have enabled it to process approximately 58% of its consumer revolving applications through a digital channel in 2023.

• Employees: 20,000+ (as of December 31, 2023)
• Geographic Footprint: Primarily in the United States
• Headquarters: Stamford, Connecticut
• Founded: Not explicitly stated in filing
• Number of locations/facilities: Over 270,000 Health & Wellness provider locations
• Revenue: $20.7 billion (FY2023)
• Market Capitalization: $14.18 billion (as of the last business day of the second fiscal quarter)
• Key Subsidiaries/Brands: Synchrony Bank, CareCredit, Synchrony Car Care, Synchrony HOME, SyPI

• CEO: Brian Doubles
• CFO: Brian J. Wenzel Sr.
• Other Key Executives: Carol Juel (Chief Technology and Operating Officer), Jonathan Mothner (Chief Risk and Legal Officer), Maran Nalluswami (CEO, Diversified & Value and Lifestyle), Bart Schaller (CEO, Digital)

• Annual Revenue: $20.7 billion (FY2023)
• Net Income: $2.2 billion (FY2023)
• Market Cap: $14.18 billion (as of the last business day of the second fiscal quarter)
• Total Assets: $109.8 billion (average for FY2023)
• Employees: 20,000+ (as of December 31, 2023)
• Key Financial Highlights:
  • Purchase volume: $185.2 billion
  • Loan receivables: $103.0 billion
  • Deposits: $81.2 billion

Synchrony offers a diverse suite of credit products and services:

• Credit Cards: Private label, dual, and co-branded credit cards.
• Installment Loans: Short- and long-term installment loans, including secured and unsecured options.
• Consumer Banking Products: FDIC-insured deposit products, including certificates of deposit, IRAs, money market accounts, and savings accounts.
• Payment Security Program: A debt cancellation product.

Synchrony operates through a single business segment and primarily manages its credit products through five sales platforms:

• Home & Auto: Provides financing solutions for home and automotive-related purchases.
• Digital: Offers integrated digital payment solutions through partners and online marketplaces.
• Diversified & Value: Provides financing solutions through large retail partners.
• Health & Wellness: Offers healthcare payments and financing solutions through a network of providers.
• Lifestyle: Provides financing solutions for power sports, outdoor equipment, and other industries.

The company manages profitability and expenses for the business as a whole.

Synchrony's current strategic priorities include:

• Investing in and developing digital assets to ensure partners are well-positioned for the evolving environment.
• Scaling multi-product offerings to customers and partners.
• Enhancing the customer experience through digital and mobile capabilities.
• Expanding the use of its Pay Later solution.
• Focusing on acquiring small to mid-sized commercial customers.
• Leveraging data and customer touchpoints to identify audiences for credit acquisition and utilization.

The company aims to differentiate itself through industry expertise, innovative digital capabilities, and a diverse product suite. Synchrony is focused on growth, execution of its strategy, and delivering the right capabilities to partners and customers.

Synchrony operates in the highly competitive consumer finance industry. Key market trends include:

• Increasing use of digital channels for payments and financing.
• Growing competition from both traditional financial institutions and fintech companies.
• Evolving regulatory landscape.

Major competitors include large financial institutions such as American Express, Bread Financial, Capital One, JPMorgan Chase, Citibank, TD Bank, and Wells Fargo, as well as financial technology companies and point-of-sale lending focused companies. Synchrony competes for partners based on program financial terms, technological capabilities, marketing expertise, service levels, and product offerings. The company also competes for customer usage of its credit products against cash, checks, debit cards, general purpose credit cards, and other forms of payment.

• Macroeconomic Risks: Macroeconomic conditions such as consumer confidence, unemployment, and interest rates can impact consumer spending and payment behavior, which can affect Synchrony's business.
• Strategic and Operational Risks: The company's success depends on its ability to retain existing partners and attract new ones. A significant portion of its revenue comes from a small number of large retail partners. The company is also subject to risks related to cyber-attacks, security breaches, and disruptions in operations.
• Financial Risks: The company is subject to risks related to changes in interest rates, the sufficiency of its allowance for credit losses, and its ability to securitize loan receivables.
• Regulatory Risks: The company is subject to extensive regulation, supervision, and examination by various governmental authorities, including the Federal Reserve Board, the OCC, the FDIC, and the CFPB. Changes in regulations could have a material adverse effect on the business.