What Is Synovus: Full-Service Banking and Financial Solutions

Synovus is a full-service banking and financial solutions provider that offers a wide range of services to its customers. With over 25 years of experience in the industry, Synovus has established itself as a trusted name in the financial sector.

Synovus was founded in 1888 as a small bank in Columbus, Georgia, and has since grown to become one of the largest banks in the southeastern United States. The company's commitment to providing excellent customer service and innovative financial solutions has been key to its success.

Synovus offers a variety of financial products and services, including personal and commercial banking, mortgage lending, and investment services. Its extensive network of over 30 community banks and 320 ATMs across the southeastern United States provides customers with convenient access to their accounts and financial services.

Broaden your view: Synovus Bank Rating

Synovus made a significant move in January 2019, acquiring FCB Financial Holdings, Inc. for $2.9 billion, expanding its reach in Florida.

This acquisition included the owner of Florida Community Bank, marking a major milestone for the company.

Synovus has also taken a strategic approach to expanding its reach through partner networks, forming partnerships with other businesses and organizations to offer a wider range of financial services to its customers.

By leveraging the existing customer base and brand recognition of its partners, Synovus has been able to attract new customers and generate additional revenue streams.

Consider reading: Synovus Credit Rating

Synovus completed a $2.9 billion acquisition of FCB Financial Holdings, Inc., owner of Florida Community Bank, in January 2019. This significant deal marked a major expansion for Synovus.

The acquisition included the ownership of Florida Community Bank, which was later expected to be rebranded to Synovus during the second quarter of 2019.

Here's an interesting read: Synovus Stock

Partner Networks are a key strategy for Synovus to expand its reach and increase revenue.

By forming strategic partnerships with other businesses and organizations, Synovus can offer its financial services to a wider range of customers and tap into new markets.

These partnerships can take various forms, such as co-branded credit cards, referral programs, or joint marketing campaigns.

Synovus can leverage the existing customer base and brand recognition of its partners to attract new customers and generate additional revenue streams.

Partner networks allow Synovus to offer a wide range of financial products and services, including commercial and retail banking, investment, and mortgage services.

This helps Synovus meet the diverse needs of its customers and provide them with comprehensive financial solutions.

Partner networks also help Synovus strengthen its relationships with existing customers by offering them access to a broader range of services through its partners.

By doing so, Synovus can increase customer loyalty and retention.

Recommended read: Huntington Bancshares Customer Service

Synovus offers a wide range of core banking services to its customers, including checking and savings accounts with features like online banking and overdraft protection.

These accounts come with features such as online banking, mobile banking, and overdraft protection. Synovus provides a range of loan products, including personal loans, auto loans, home equity loans, and business loans.

Some of the key core banking services provided by Synovus include:

Synovus's online and mobile banking platform, My Synovus, allows customers to manage their accounts, pay bills, transfer funds, and more from anywhere at any time. It also includes features like bill pay, money transfers, and account alerts.

Synovus offers a wide range of core banking services to its customers, forming the foundation of the company's operations.

These services are essential for meeting the financial needs of individuals, businesses, and communities. By providing a comprehensive suite of core banking services, Synovus aims to help customers manage their finances effectively and achieve financial success.

Synovus offers a variety of checking and savings account options, including online banking, mobile banking, and overdraft protection. These accounts come with features that help customers manage their day-to-day finances and save for the future.

Some of the key core banking services provided by Synovus include:

Synovus provides a range of loan products, including personal loans, auto loans, home equity loans, and business loans. Customers can also access credit cards and lines of credit to meet their borrowing needs.

Synovus offers convenient online and mobile banking platforms that allow customers to manage their accounts, pay bills, transfer funds, and more from anywhere at any time.

Synovus offers a range of mortgage options to help customers achieve their dream of homeownership.

Whether you're a first-time homebuyer or looking to refinance your current mortgage, Synovus has solutions to meet your needs. Their personalized approach takes into account your unique financial situation and goals.

Synovus mortgage specialists are there to provide expert guidance and support throughout the mortgage application process. They can help you understand the different mortgage options available and guide you through the application and approval process.

Synovus offers competitive mortgage rates to help customers save money on their home purchase. By shopping around and comparing rates, customers can find a mortgage solution that fits their budget and financial goals.

Synovus provides online tools and resources to help customers explore their mortgage options, calculate payments, and apply for a mortgage online.

Synovus has a strong financial health due to its diversified revenue streams, which include commercial and retail banking, investment services, and mortgage lending. This stability helps mitigate risks and ensure a stable income for the company.

Synovus generates revenue from a range of sources, including commercial and retail banking, investment services, and mortgage lending. This diversity helps to reduce dependence on a single revenue stream.

Synovus' strong asset quality is achieved through rigorous risk assessment processes, proactive monitoring of loan portfolios, and timely resolution of any potential issues. This focus on asset quality helps to minimize the risk of financial losses.

Here are some key factors that contribute to Synovus' financial health:

Synovus' commitment to efficient cost management practices helps to optimize operational expenses and improve overall profitability. By streamlining processes and leveraging technology, the company is able to reduce costs without compromising on service quality.

Synovus offers a range of investment options to help customers grow their wealth and achieve their financial goals.

With Synovus' investment services, customers have access to a team of experienced financial advisors who can provide personalized investment advice tailored to their individual goals and risk tolerance.

Synovus provides online tools and resources to help customers track their investments, monitor their portfolio performance, and make informed investment decisions.

Customers can choose from a variety of investment options, including mutual funds, stocks, bonds, and exchange-traded funds (ETFs), to build a portfolio that suits their needs and preferences.

Synovus' investment services are designed to help customers grow their wealth, achieve their financial goals, and secure their financial future.

Maintaining a strong financial health is crucial for any business, and it's achieved through a combination of strategic planning, prudent risk management, and a focus on customer satisfaction. Synovus, a leading financial services company, has maintained a strong financial health over the years.

Synovus generates revenue from a diverse range of sources, including commercial and retail banking, investment services, and mortgage lending. This diversified revenue stream helps to mitigate risks and ensure a stable income for the company.

Strong asset quality is another key factor in Synovus' financial health. The company has a strong track record of maintaining high asset quality through rigorous risk assessment processes, proactive monitoring of loan portfolios, and timely resolution of any potential issues.

Additional reading: Zerodha Revenue

Efficient cost management is essential for maintaining a strong financial health. Synovus streamlines processes and leverages technology to reduce costs without compromising on service quality.

A robust capital position provides a solid foundation for growth and expansion. Synovus regularly assesses its capital needs and takes proactive measures to ensure that it meets regulatory requirements and can support its business objectives.

Synovus' focus on customer relationships has been key to its success. By providing personalized service, innovative products, and responsive support, the company has been able to attract and retain a loyal customer base.

Here are the key factors that contribute to Synovus' financial health:

Synovus Bank Accounts offer a range of options, including Checking, Savings, Money Market, CDs, Investments, and Loans.

The bank's accounts come with varying fees, which can range from $0 to $50 for Checking accounts, and $0 to $5 for Savings accounts. Money Market accounts have fees up to $10, while CDs have no fees.

Synovus Bank's loans have variable APRs, with HELOC APRs as low as 4%. This is a notable exception to the generally low fees associated with most accounts.

Here's a breakdown of Synovus Bank's accounts:

If you're looking for a bank that offers a complete banking solution, you might want to consider Synovus Bank. This service-oriented bank provides a broad range of accounts and also offers discounts and perks for those who establish an integrated banking relationship.

Some customers might find that Synovus is a good choice because most accounts come with additional features.

Synovus Bank's fees can be avoided relatively easily, with the notable exception of the Inspire Checking account.

Synovus Bank offers a range of account types to suit different needs. You can choose from checking, savings, money market, CDs, investments, and loans.

Their checking account has no APY/APR listed, so you'll need to contact the bank for more information. Fees for this account range from $0 to $50.

Savings accounts are available, including a standard Personal Savings account and two specialized options: Minor Savings and Holiday Savings. The Personal Savings account has a $100 minimum to open, but with a Relationship Balance of at least $200, the $5 monthly service fee is waived.

For more insights, see: Credit Union versus Bank Account

A Relationship Money Market account is also offered, requiring a $100 minimum deposit and a $2,500 relationship balance to avoid a $10 monthly fee. Interest rates for this account are tiered, but you must contact the bank to get current rates.

Here's a summary of the main account types and their minimums:

Loans, including HELOCs, are also available with variable APRs, with some as low as 4%.

Synovus Bank offers two checking accounts: Free Checking and Inspire Checking. Both require a $100 minimum deposit, but the Inspire Checking account comes with a hefty $50 monthly fee unless you have a $100,000 combined Synovus Bank account balance.

With either account, you'll enjoy unlimited fee-free transactions at Synovus ATMs and Publix Presto! ATMs. You'll also get a no-fee Visa debit card and integration with Apple Pay, Google Pay, and Samsung Pay mobile wallet.

Digital and mobile banking are also available with both accounts. Plus, you'll have overdraft protection and federal Deposit Insurance Corp. insurance up to $250,000.

Here are some key features of the Free Checking account:

The Inspire Checking account offers even more perks, including free standard checks, 50% off premium checks, and ATM fee refunds at non-Synovus terminals.

Synovus offers a range of mobile banking services, including mobile check deposit, making it easy to deposit funds on the go.

The My Synovus app is available for both iOS and Android devices, allowing customers to access their accounts from anywhere.

One of the key features of My Synovus is its bill pay functionality, allowing customers to pay bills directly from their accounts.

Mobile banking with Synovus also includes account alerts, keeping customers informed about their account activity.

The app also includes Touch ID and Face ID compatibility for added security.

Some of the features available via My Synovus include:

In addition to mobile banking, Synovus also offers online banking services, allowing customers to manage their accounts from a computer.

Synovus is a financial services company that was founded in 1888 in Columbus, Georgia. It's one of the largest community banks in the United States.

Synovus offers a range of financial services, including personal and commercial banking, mortgage services, and securities brokerage. The company has over 160 locations across the southeastern United States.

Synovus has a long history of community involvement, with a focus on supporting local businesses and organizations. The company has been recognized for its commitment to corporate social responsibility.

Synovus has a diverse range of financial products and services, including checking and savings accounts, credit cards, and loans. The company also offers wealth management services and investment advice.

Synovus has a strong reputation for customer service, with a focus on building long-term relationships with its clients. The company has a high customer satisfaction rating.

Synovus is a publicly traded company, listed on the New York Stock Exchange (NYSE) under the ticker symbol SNV.

Related reading: Stock Quote New York Community Bank

Synovus Financial Corp. has a vast network of subsidiaries that cater to various financial needs. It operates more than 30 community banks across Georgia, Florida, and Alabama.

Synovus is the parent company of Columbus Bank and Trust Company, a regional institution headquartered in Columbus, Georgia. This subsidiary was formed in 1972 as CB&T Bancshares.

Synovus also owns Total System Services, Inc., a leading provider of diversified financial services. This subsidiary was acquired by Synovus in 1981, with Synovus holding 81.1% of its shares.

In addition to these subsidiaries, Synovus has a presence in other states through its subsidiaries. For instance, Synovus Financial Corp. of Alabama is a subsidiary that operates in Alabama.

Synovus has a diverse range of subsidiaries, including Synovus Trust Company, Commercial Bank, and Synovus Securities, Inc. These subsidiaries offer various financial services, including trust services, commercial banking, and securities brokerage.

Synovus' subsidiaries are not limited to banks and financial institutions. It also has a subsidiary called Total Technology Ventures, LLC, which was acquired in 60% stake.

You might enjoy: Securities Firm