Synchrony Financial, formerly GE Capital Retail Bank, offers a host of products and services for businesses, healthcare providers and consumers including deposit products and promotional financing services. The company operates as a subsidiary of GE Consumer Finance, Inc., states Bloomberg.com.
Founded in 2003, Synchrony Financial is a consumer financial service based in Stamford, Connecticut. Synchrony Financial is the largest private-label credit card provider in the United States as of 2014. These private-label credit cards include cards for Amazon.com, Wal-Mart, Lowe's, Guitar Center, Gap and Discount Tire.
Synchrony Financial also offers promotional financing to consumers for elective healthcare procedures or services such as dental, vision and audiology needs in addition to debt cancellation products and deposit products. The deposit products include individual retirement accounts, money accounts and savings accounts under the Optimizer+Plus brand, notes Bloomberg.com.
The company's credit products are offered via programs that it established with national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. The deposit products are advertised through several mediums including online, print and radio commercials.
G.E. Capital Retail Bank changed its name to Synchrony Financial when it became a publicly traded company in 2014. It became the third largest initial public offering in 2014 when it raised $2.88 billion on its release, states NYTimes.com.