Financial ServicesSourced

Case Study: Synchrony completes 25 million digital card applications with Prove Pre-Fill

Synchrony Case StudySourced & dated by Case Study Desk

Key facts · TL;DR

Company

Synchrony

Industry

Financial Services

Challenge

Simplify digital card applications while reducing fraud risk

Headline result

Prove helped Synchrony complete 25 million digital credit card applications, cutting the number of fields customers must complete by 80%.

Key results

25M

Digital credit card applications completed

80%

Reduction in application fields required

vs. previous process

93%

Of digital customers choose Prove auto-fill

where accessible

The challenge

Synchrony sought to simplify its digital credit card application and account-opening processes to give consumers fast, easy access to financing while reducing potential fraud risk.

The solution

Synchrony deployed Prove's Pre-Fill and Identity solutions to pre-populate applications with verified, cryptographically authenticated identity data, reducing the number of fields a customer must complete.

“Today's consumers are seeking fast and easy ways to gain access to financing.”
MA
Max Axler
SVP & Deputy Chief Credit Officer, Synchrony

The results, in context

Prove helped Synchrony complete 25 million digital credit card applications and reduced the number of fields a customer must complete by 80% compared with previous processes. Where accessible, 93% of Synchrony digital customers chose to auto-fill applications with Prove Pre-Fill.

Products used

Prove Prove Pre-FillProve Prove Identity