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Synectics 

Synectics creates bespoke fraud prevention solutions that effectively mitigate financial and identity fraud.
For over 30 years, it has championed the use of syndicated data across the private and public sectors to prevent crime, appropriately manage risk, better understand customers, and promote financial inclusion.

Location:Stoke on Trent , UK
Founded: 1992

Fraud Solution Profile

Synectics creates bespoke solutions that effectively mitigate financial and identity fraud.
For over 30 years, it has championed the use of syndicated data across the private and public sectors to prevent crime, appropriately manage risk, better understand customers, and promote financial inclusion.
Many tier 1 banks, leading insurers and challenger fintechs trust Synectics’award-winning services, which have prevented fraud losses surpassing five billion pounds.

Today, Synectics leads in using data and insight as a force for good.
Its solutions purposefully balance financial crime prevention with the fair treatment of customers. As a result, organisations can effectively combat fraud and its associated human cost, even as rapid digitalisation makes fraud challenges more complex.

At the heart of Synectics is National SIRA – the largest and most authoritative fraud dataset of its time.
The unparalleled insights of National SIRA improve certainty, efficiency and fairness when making decisions – context that feeds directly into the organisation’s market-leading solutions.
Solutions include data syndication for fighting fraud, digital ID verification and ethical AI to predict risk and automate decisions. Path-breaking innovations are in constant development, while expertise is readily shared to solve problems faster.
Synectics wins many accolades for its pioneering work – including the Queen’s Award for Innovation. This continues into 2023, which has seen the organisation awarded Data Initiative of the Year at the European, UK FinTech Awards and in 2024 as Insurtech of the year at the UK Fintech Awards . In addition, its people are proud contributors to local charities and initiatives.

 Customers

Lloyds Bank
Allianz
Altanta Insurance
Cabinet Office
Mitek

 Primary Functionality
Fraud Platform
 Fraud Type
Account Takeover, KYC & AML, New Account Fraud, Payment Fraud, Synthetic Identity Fraud
 Technology
Machine Learning, Rules Engine