Why we're called sync. and our FinTech offering.

Why we’re called sync. and our FinTech offering

The future of
Open Banking
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In looking at the market and deciding upon what we wanted to offer as a new FinTech in the industry, it helped us find a name that represents us - sync.

We are the intersection where old banking meets new technology. We are sync.

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LOOKING FOR INSPIRATION

When we first began mapping out the idea of what we wanted to build we looked at all of the different Banks, FinTechs, Challenger Banks and NeoBanks out there. We tried to understand how we felt when we said their names out loud, whether there was a connection between their name and what they offered, and even how easy their name was to say for non-native English speakers too.

If you’ve ever started your own company you know how important it is to choose a name that you will build your brand on. We wanted something that struck at the core of what we do, but would also give us the flexibility to adapt it if we needed to. For such an experience and design focussed company this was not something we took lightly and it caused a lot of frustration at how hard it was to find a good name.

We went through literally dozens of options. We looked at how banks named themselves when they first started. Did we want to go for a name that sounded wealthy and exclusive like Barclays or Lloyds? Or did we want to use an acronym that represented our roots, like the Hong Kong & Shanghai Banking Corporation (HSBC)?

We decided neither. So we looked at the different Challenger Banks and FinTechs out there and saw they’ve struggled finding the right name to represent what they do and who they are.

"We knew from the beginning we were going to be the company that would bring the traditional services that banks offered and merged them with new technologies and regulations."

LETTING OUR PRODUCT DEFINE OUR NAME

We stopped looking for external inspiration and started looking within again – what were the cornerstones of our product. Well we wanted to offer current accounts for everyday needs; we wanted to offer multi-currency accounts for migrants, expats and travellers; we wanted to capitalise on Open Banking and we had our amazing Card that we wanted to launch.

Most of all – we wanted to bring all these amazing features together – in one app, in one place, as one experience.

Then one day inspiration struck our CTO (Freddie Shi) of all people: “What about ‘sync’? People synchronise files using Dropbox, Google Drive etc… Well we synchronise financial accounts from banks such as Natwest and Monzo, but also credit cards like Amex. There are FinTechs out there offering niche services: one offers a travel account, one offers a budgeting tool, another offers only OpenBanking. Well we synchronise all of those too. What about ‘sync’?”

The team was sold. It was a natural fit. Since that day there’s been no doubt – we are sync.

And the ‘X’? Well that was easy. We knew from the beginning we were going to be the company that would bring the traditional services that banks offered and merged them with new technologies and regulations.

We are the intersection where old banking meets new technology. We are sync.

We are hiring!

Let’s make a difference.

Together.

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