Synechron is a leading global Digital Transformation consulting firm which focuses on financial services and technology companies. It has more than 14,500 employees. Faisal Husain, CEO of Synechron, talks about what sparked the idea for Synechron and how it has grown into a global company.
Tell us a bit more about your business and how it started.
Synechron began as a spark of an idea while I was working at a Wall Street firm in the late 90s. Today, we’re a leading global Digital Transformation consultancy.
Back then, as large technology consulting firms were emerging, many lacked a fundamental understanding of Wall Street’s complex systems and the agility needed in a dynamic market.
Seeing the gaps in knowledge, technical skill and client engagement, I envisioned a firm that was laser-focused on the financial services sector, a firm that would not only bring cutting-edge technical capabilities but also deep business knowledge to address technology and business transformation projects.
The goal was to embrace agile methods and build teams that combined seasoned professionals with young talent. I pitched the idea to two close friends, and fortunately, they were on board from the start.
How has the business grown since it started and how did you ensure growth?
From our early days, living through 9/11 and the Global Financial Crisis, we’ve grown to a team of over 14,000 across 55 offices in 20 countries, reaching nearly a billion dollars in revenue. So far, our self-sustaining growth has been driven entirely by our profits and cash flows.
In order to remain resilient, we’ve always prioritised staying at the forefront of innovation. An example of that is our work in AI, which began almost a decade ago, and is now available for our clients and internal teams through the Synechron Nexus Suite. This forward-thinking approach has allowed us to attract top talent and continually explore new possibilities to drive technology forward.
What’s the business’ approach to management?
We foster a culture of openness and transparency. Regular updates in company-wide meetings ensure everyone is aligned and informed about our operations and any obstacles we encounter. Our leadership team practises an open-door policy, prioritising timely decision-making over bureaucracy.
What is your company’s vision and goal?
Our vision at Synechron is to provide first-class digital solutions that transform and empower our clients. We use innovation to tackle the most complex business challenges, always prioritising excellence in every project we undertake. Aligning cutting-edge technology with strategic insights, we enable our clients to achieve sustainable success in their Digital Transformation journeys.
What kind of clients and market do you serve?
We primarily serve the high-tech, insurance and financial services industries. We have significant experience in financial services, working with seven of the world’s top 10 tier one banks. Our approach focuses on both product development and modernisation, which allows us to support clients through various economic conditions. This balanced strategy helps us bridge the gap between high-concept innovation and essential system upkeep, making us indispensable partners for our clients. We help them fast-track their business objectives and enhance operational efficiency in any economic climate.
What has your career looked like so far?
I moved to New York at the age of 16 and enrolled at Pace University, where I earned bachelor’s and master’s degrees in aeronautical engineering and computer science. My professional journey began as a programmer and analyst for a software firm in Manhattan. During that time, I also sold newspapers at a Wall Street Journal stand to traders – the very same people I’d later sell FinTech services to.
My five years as a technology consultant for companies like Dun & Bradstreet and Merrill Lynch were pivotal. It was here that I identified a significant gap in the market, sparking the idea for Synechron. Over the course of my career, I’ve learned many lessons and come to realise that true success isn’t measured by wealth or material possessions. Instead, success is about earning respect, admiration and love from society through the pursuit of excellence and dedication to causes that benefit humanity.
How do you equip your staff with skills and knowledge?
Working with us means engaging with blue-chip clients on cutting-edge projects, offering our team a variety of challenges and upskilling opportunities. This dynamic environment ensures continuous personal and professional growth. We also put a lot of effort into upskilling our employees on emerging technologies like AI – which we’ve been working on and researching for the past decade – to empower them to innovate and create new solutions. Additionally, we provide opportunities to learn and enrol in courses via online training platforms.
How do you work with other executives within the C-suite to make sure your voice is heard?
I focus on fostering strong relationships and maintaining open communication. We hold regular meetings to discuss strategy and make collective decisions, recognising that my voice doesn’t always need to be loudest. I value the significant experience each team member brings, and by presenting well-researched ideas and actively listening to others, I help ensure a collaborative decision-making process that aligns with our company’s goals.
How do you ensure different teams in your organisation work together?
We integrate world-class software engineers, creative design professionals and industry experts into multi-disciplinary teams. Regular cross-functional meetings, clear communication channels and a strong emphasis on shared goals help us coordinate efforts across global locations in real-time, meeting our clients’ needs effectively. This integrated approach fosters teamwork, innovation and ensures that all teams are aligned towards common objectives.
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