Joining Forces to Move Ahead in the Fintech Digital Revolution

By Staff Writer Atlanta Trend

• Aug 18, 2021

When leading digital transformation consulting firm Synechron acquired Attra at the end of 2020, VP, Head of Americas for Attra, Sambi Reddy, was quite excited about the expanded possibilities, range, and opportunities this joining of forces would bring about. "The enhanced capabilities of the combined companies is huge," he says, "Synechron is already working with 9 of the top 10 banks in the world, on digitalization projects, and Attra will provide its extensive payments expertise to the mix." He goes on to add that Attra now has a broader reach, giving the company an entry into new markets and a firmer foothold in markets where it was looking to expand.

The joint talent pool of both companies is currently over 10,000 employees and the combined annual revenue is more than $650 million.

"We are now even better equipped to assist our payments and banking clients on their digital transformation journey," Reddy says. For over 25 years, Attra has focused primarily on payment-related clients – banks, financial institutions, third-party payment processors, payment gateways, and retailers. "Together with Synechron, we can now expand our digital, consulting, and technology capabilities, from payments to wholesale banking, wealth management, and insurance," he adds.

Synechron works with 9 of the top 10 global investment banks. "Synechronwas incepted in 2001 at Wall Street in New York, where it quickly grew into a trusted entity, partnering with some of the world's largest financial institutions, so its vertical knowledge comes from experience," says Reddy. "Meanwhile, since Attra’s inception in 1995, we have provided innovative technology services and solutions in the payments domain, to leading banks and financial institutions around the world.”

Post-acquisition, Attra is continuing to retain its brand identity but has become a Synechron company. Attra’s team of experts will stay focused on providing payment-related service offerings, while also moving into new spaces within the financial industry.

"In collaboration with Synechron, we are working hard to help our payments customers decide what their digital strategy will be, before implementing it," says Reddy. "Synechron’s state-of-the-art Financial Innovation Labs called FinLabs are present in 13 global locations and we invite our customers to reap the benefits of a huge amount of R&D investment that has already been made." He goes on to explain, “The company has 70 pre-done accelerators, proofs of concepts which it also refers to as MVPs or Minimum Viable Products, so our clients can avoid a cold start,and accelerate their product development."

These Minimum Viable Products span customer onboarding, the Internet of things, KYC, ESG, Artificial Intelligence, Machine Learning, Blockchain, chatbots, data science, credit risk, and compliance, among other technologies and solutions.

"We have always successfully anticipated and met our customer requirements, and this will definitely continue as a part of Synechron," Reddy assures us. “Synechron’s unique value proposition called the ‘Power of 3’, that encompasses Digital, Business Consulting, and Technology, is now helping our customers accelerate and advance their digital capabilities.”

He concludes, "Our vast experience in payments, now combined with what we can offer in terms of services and solutions for wealth management, capital markets, insurance, and asset managers, means that we have all of fintech covered.I don't know of any other technology service provider out there that can legitimately say the same."