Synectics Solutions
Synectics Solutions, founded in 1992, specializes in fraud prevention and financial crime solutions across multiple sectors, including banking, insurance, and telecoms.
Services
Synectics Solutions provides a range of services aimed at preventing fraud and financial crime. These services cover sectors such as banking, insurance, retail, telecoms, public sector, utilities, and vehicle rental. The company offers solutions that include digital ID verification, predictive analytics, and machine learning to identify fraudulent activities. Additionally, Synectics Solutions leverages a Special Investigations Unit to conduct complex fraud analysis, enhancing the efficacy of their services.
Products
Synectics Solutions offers several key products designed for fraud prevention. These include National SIRA, which is a shared fraud database, and the National Fraud Initiative, which the company manages on behalf of the UK Cabinet Office. Other notable products are Precision, a predictive analytics tool, and SynID, which focuses on digital ID verification. These products are available through a software-as-a-service model, providing clients with scalable and accessible solutions to combat fraud.
Sector
Synectics Solutions operates across multiple sectors including banking, insurance, retail, telecoms, public sector, utilities, and vehicle rental. The breadth of their service offering ensures that they can address the diverse needs of different industries. The company employs advanced techniques such as predictive analytics and machine learning, making their solutions adaptable and effective in various contexts, from financial services to public utilities.
History
Founded in 1992, Synectics Solutions has grown to become a leader in fraud prevention and financial crime solutions. Over the years, the company has developed and refined its product offerings, employing advanced technologies like predictive analytics and machine learning. Significant milestones include the management of the National Fraud Initiative for the UK Cabinet Office and achieving over £5 billion in savings through their fraud prevention solutions.
Corporate Social Responsibility
Synectics Solutions places a strong emphasis on corporate social responsibility and community involvement. The company is dedicated to making a positive impact through its various initiatives, reflecting its commitment to social and ethical responsibilities. This focus not only underlines the company’s dedication to combating financial crime but also highlights its broader impact on society.