The Synovus Financial Incorporation: The Synovus financial incorporation is the Columbus Bank and Trust company with $45 billion in assets based in COLUMBUS, GEORGIA.
It provides commercial, retail banking, investment, and mortgage services. It has its 249 branches and 335 ATM. It came into effect in 1888. Its headquarters are in Columbus, Georgia, USA. It provides financial services to customers.
The Synovus Financial Incorporation Review 2019
1. Headquarters: Synovus bank has 3 headquarters i.e in Columbus, Georgia, USA. It has 257 Banking locations. The corporate headquarters is listed as 1111 Bay Avenue in Columbus Georgia.
2. Tagline: Synovus is people serving people with a real focus on local needs being met by local people. It is a service-providing sector, to fulfill the local needs of the local people. It is the online banking channel. It provides online services to its customers.
3. Segmentation: It is an individual corporation and Institution for Financial providing services. It helps their customers financially by providing the loans services, expanding the business, help in large scale as well as small scale industries, providing fund, etc.
4. Positioning: Synovus is a financial services company. It involves providing integrated financial services to its customer. It includes retail banking, financial management, commercial, insurance, and mortgage services.
5. Strengths: Synovus is a diversified financial services holding company with strong assets. It is the second largest bank with headquarters in Georgia. It is one of the largest financial institutions in the US, providing retail banking services to its customers in Georgia, Alabama, South Carolina, Florid, and Tennessee. It’s Family Assets named to Bloomberg List of Top 50 Family offices.
6. Weakness: It has reducing average assets contributing to reducing Net Interest income. Due to inexperienced management services, it affects the profitability of the company. (Provision for loans losses, losses on foreclosed real estate and another credit cost.)
7. Competition: Competitive cost structure leading to operational efficiency. It has its existence in the competitive market all over the world. There are below 8 main Synovus competitors: (a) Bank of America Corporation (b) BB &T Corporation (c) Citigroup Inc. (d) First Data Corporation (e) JP Morgan Chase & Co (f) Sun Trust Banks, Inc (g) Wachovia Corporation (h) Wells Fargo & Company.
8. Opportunity: Growing banking sector in the US. Opportunity can be broad with international tie-ups. Enhancement of large corporate banking offering – it builds relationships with the larger commercial sector. It connects more commercial customers with full suits of specialized commercial banking products and services.
9. Threats: It has weak economic growth according to the IMF. Phishing Attacks – Phishing is a form of Internet piracy. Synovus offers online banking services to its customers.
Synovus Financial Corp is the Regional Bank. It has sectors of Banking and Financial Services. The company is Online Banking channel. It provides online services to its customers. It helps its customers financially. A number of employees are 4651 till 2018. Corporative Website: www.synovus.com. Its key people are Kessel Stelling, Chairman OR CEO. It is a type of Public corporation.