What are Mission Vision & Core Values of Synchrony Financial Company?

Synchrony Financial Bundle

Get Full Bundle:

	5 FORCES	$15	$10
	BCG	$15	$10
	CANVAS	$15	$10
	4P's MIX	$15	$10
	PESTLE	$15	$10
	SWOT	$15	$10

TOTAL:

ADD TO CART

What are the guiding principles of Synchrony Financial?

Mission and vision statements, along with core values, are crucial for any organization. They act as a strategic compass, guiding decisions, fostering identity, and driving success. These principles articulate a company's purpose, future aspirations, and ethical standards.

Synchrony Financial, a leading consumer financial services company, partners with various retailers and healthcare providers. They deliver innovative financing solutions at the point of sale. Their mission, vision, and values shape their culture and strategic initiatives.

These principles define their commitment to customers, partners, and employees, contributing to strong financial performance, including $3.5 billion in net earnings in 2024. Explore their strategic landscape with a Synchrony Financial PESTEL Analysis.

The Synchrony Financial mission statement underscores a commitment to advancing both consumers and business partners through innovative financial and technological solutions. This dual focus extends across various sectors, including digital, health and wellness, retail, and automotive, emphasizing growth and progress for all stakeholders. The company's strategic goals and values are clearly aligned with this purpose.

Customer-Centric Focus

Synchrony's mission prioritizes empowering customers and partners, driving their financial progress.

Innovation in Solutions

The company integrates both financial and technology solutions to meet evolving market needs.

Broad Market Reach

Synchrony serves diverse industries, including retail, health, and automotive, expanding its impact.

Driving Forward Progress

The core aim is to enable growth and advancement for all involved parties.

Digital Wallet Growth

Unique active users of digital wallets grew by 85% in 2024, doubling digital wallet sales.

Marketplace Engagement

The Synchrony Marketplace saw 228 million visits in 2024, boosting new applications by over 17%.

Synchrony Financial's mission statement analysis reveals a strong focus on empowering customers and partners. By providing financial and technology solutions, the company aims to foster progress across various industries. This commitment is evident in their 2024 performance, where the Synchrony Marketplace recorded nearly 228 million customer visits, leading to over 17% growth in new applications. Furthermore, the company's digital wallet strategy saw unique active users increase by 85% compared to 2023, resulting in more than double the digital wallet sales. These figures highlight Synchrony Financial's purpose and values in action, demonstrating how their core values in practice drive tangible results. For more on the company's background, explore the Brief History of Synchrony Financial.

Synchrony Financial SWOT Analysis

• Complete SWOT Breakdown
• Fully Customizable
• Editable in Excel & Word
• Professional Formatting
• Investor-Ready Format

GET TEMPLATE ➔

Synchrony Financial's vision statement, 'to build a future where every ambition is within reach,' highlights its commitment to empowering individuals and businesses. This aspirational goal positions Synchrony as a key enabler of financial opportunity, extending beyond traditional credit provision. The company's strategic focus on diverse offerings and expanded partnerships, including renewals with major retailers, supports this broad vision. Synchrony Financial's vision statement meaning emphasizes widespread impact and transformative influence across consumer and commercial sectors.

Vision

Synchrony Financial's vision is 'to build a future where every ambition is within reach.' This statement emphasizes empowering individuals and businesses to achieve their financial goals.

Mission

The Synchrony Financial mission focuses on delivering innovative financial solutions and fostering strong partnerships. This drives growth and customer satisfaction.

Core Values

Synchrony Financial core values include integrity, responsibility, and innovation. These principles guide their operations and interactions.

Company Culture

Synchrony Financial company culture promotes collaboration, diversity, and continuous learning. This fosters an inclusive and dynamic work environment.

Business Goals

Synchrony Financial business goals include expanding market share and enhancing customer experiences. They aim for sustainable growth and profitability.

Strategic Focus

Synchrony Financial's strategic goals and values emphasize innovation in digital payments and strengthening partner relationships. This ensures long-term success.

Synchrony Financial's vision, 'to build a future where every ambition is within reach,' is inherently future-oriented and aspirational. It focuses on empowering individuals and businesses to achieve their goals by making 'every ambition within reach.' This broad scope suggests an ambition for widespread impact, aiming to be an indispensable enabler of financial opportunity rather than just a credit provider. While not explicitly stating 'global impact' or 'market leadership,' the phrase 'every ambition' implies a pervasive and transformative influence across various aspects of consumer and commercial life. Based on the company's current trajectory and market position as a premier consumer financial services company, this vision appears both realistic and aspirational. Synchrony delivered strong results in 2024, with net earnings of $3.5 billion and a return on average assets of 2.9%. In the fourth quarter of 2024, net earnings increased significantly by 76% year-over-year to $774 million, demonstrating a robust operational foundation capable of supporting such a far-reaching vision. The company's strategic focus on diversifying its offerings and expanding partnerships, including renewing key agreements with major retailers like JCPenney and Sam's Club, underscores its commitment to enabling broader financial access and opportunity. For more insights into the company's strategic direction, refer to the Growth Strategy of Synchrony Financial. This aligns with Synchrony Financial's purpose driven business model and its core values in practice.

Synchrony Financial PESTLE Analysis

• Covers All 6 PESTLE Categories
• No Research Needed – Save Hours of Work
• Built by Experts, Trusted by Consultants
• Instant Download, Ready to Use
• 100% Editable, Fully Customizable

GET TEMPLATE ➔

Synchrony's culture is deeply rooted in six core values that differentiate the company and shape its corporate identity. These values guide daily operations and strategic decisions, influencing everything from customer interactions to employee development. The four core values of Synchrony Financial are Being Honest, Being Responsible, Passion, and Caring.

Being Honest – It's Our Policy

This value emphasizes integrity and ethical conduct in all business dealings. It manifests in transparent communication with customers regarding credit terms and responsible lending practices. For example, Synchrony's commitment to clear financial reporting, as seen in their 2024 Annual Report, reflects this dedication to honesty, providing stakeholders with comprehensive and accurate data.

Being Responsible - We Know What's at Stake

Responsibility highlights prudent risk management and accountability. This is evident in Synchrony's disciplined underwriting, which contributed to a net charge-off (NCO) ratio of 6.38% in Q1 2025, remaining 54 basis points below its 2017-2019 average, and an allowance for credit losses coverage ratio that rose to 10.87% in the same period. In corporate culture, it translates to employees taking ownership of their work and its impact on customers and partners.

Passion - It's Our Fuel for Greatness

Passion drives innovation and excellence. This value is reflected in Synchrony's continuous investment in digital capabilities and innovative financial solutions, such as the growth of their Synchrony Marketplace and digital wallet initiatives which saw significant user engagement in 2024. It also inspires employees, with 100% of Synchrony employees reportedly motivated by the company's mission, vision, and values.

Caring - We Believe People Matter

Caring underscores Synchrony's people-centric approach, extending to employees, customers, and communities. The company's recognition as a #5 Best Company to Work For in the U.S. by Fortune in 2024, with 94% of U.S. employees considering it a great place to work, exemplifies this value in its corporate culture. In customer relations, this translates to personalized service and support, and in community practices, through initiatives like their $50 million 'Education as an Equalizer' program aimed at expanding access to education and financial literacy.

The Synchrony Financial core values in practice foster a unique corporate identity rooted in trust, accountability, and a forward-thinking mindset. To understand how these values influence the company's strategic decisions, including those impacting the Owners & Shareholders of Synchrony Financial, continue reading the next chapter on Synchrony Financial's mission and vision.

Synchrony Financial Business Model Canvas

• Complete 9-Block Business Model Canvas
• Effortlessly Communicate Your Business Strategy
• Investor-Ready BMC Format
• 100% Editable and Customizable
• Clear and Structured Layout

GET TEMPLATE ➔

A company's mission and vision are the bedrock of its strategic decision-making, providing a clear direction for growth and operations. These statements not only define what a company aims to achieve but also how it intends to get there, influencing everything from product development to market expansion.

Synchrony Financial's Mission and Vision

Synchrony Financial's mission is to power life's adventures and help customers and partners achieve what matters most. Their vision is to be the premier consumer financial services company, recognized for its innovation, reliability, and commitment to customer success.

• Empowering customers through financial solutions.
• Driving innovation in consumer finance.
• Building strong, lasting partnerships.
• Achieving leadership in the financial services sector.
• Focusing on customer and partner success.

Strategic Alignment with Mission

Synchrony's strategic priorities are directly linked to its mission of moving customers and partners forward. CEO Brian Doubles highlighted the company's differentiated business model and execution capabilities in delivering strong results for stakeholders, demonstrating this alignment. The company's expansion into new wellness markets, such as fertility and nutrition services through CareCredit, resulted in nearly 15% growth in wellness-related purchase volume in 2024, directly supporting its mission to provide financial solutions for what matters.

Partnership Strategy

The renewal and expansion of key retail partnerships, including JCPenney and Sam's Club, alongside new collaborations like Generac, exemplify Synchrony's strategic approach to enhancing market penetration. This strategy aims to deliver seamless omnichannel experiences to its approximately 70 million customers.

Financial Strength and Shareholder Value

Synchrony maintains a robust capital position, evidenced by a Common Equity Tier 1 (CET1) ratio of 13.3% at the close of 2024. This financial strength supports growth initiatives and capital returns to shareholders, with the company returning $1.4 billion to shareholders in 2024 through capital management, aligning with its long-term value creation goals.

Core Values in Practice

The company's operations are shaped by its principles, fostering an inclusive and value-led culture. This commitment to its people was recognized with Synchrony ranking #5 on Fortune's 100 Best Companies to Work For in 2024.

Business Goals and Market Reach

Synchrony's business goals are intrinsically tied to its mission and vision, focusing on diversification across industries to broaden its customer base and product offerings. Understanding the Target Market of Synchrony Financial is crucial to appreciating how these goals are pursued.

Purpose-Driven Business

The company operates as a purpose-driven business, where its mission and vision are not just statements but actionable frameworks that guide strategic decisions and daily operations, ensuring a consistent focus on customer and partner success.

Synchrony's mission and vision are integral to its strategic direction, influencing business goals and operational execution. Explore core improvements to company's mission and vision in the next chapter.

Synchrony Financial Porter's Five Forces Analysis

• Covers All 5 Competitive Forces in Detail
• Structured for Consultants, Students, and Founders
• 100% Editable in Microsoft Word & Excel
• Instant Digital Download – Use Immediately
• Compatible with Mac & PC – Fully Unlocked

GET TEMPLATE ➔

Enhancing Synchrony's mission and vision statements can further solidify its market position by explicitly incorporating technological leadership and a commitment to sustainable practices. These refinements would align with industry shifts and growing stakeholder expectations for innovation and responsibility.

Integrate Digital Innovation and AI Leadership into Mission

Explicitly mentioning leadership in digital innovation and AI within the mission statement would better reflect current strategic priorities. A revised mission could be: 'We create cutting-edge financial and AI-driven technology solutions to empower our customers and partners, driving sustainable progress.' This aligns with initiatives like the Synchrony Skills Academy, which saw significant enrollment in Gen AI and robotics training, and a 85% growth in unique active users for their digital wallet in 2024.

Emphasize Sustainability and Responsible Growth in Vision

Refining the vision statement to directly address sustainability and responsible growth would underscore the company's commitment to ESG principles. A potential vision could be: 'To build a future where every ambition is within reach, fostered by responsible finance and sustainable innovation.' This supports their ESG efforts, including a 95% increase in diverse supplier spend from 2022 to 2023.

Address Evolving Consumer Behavior and Digital Demands

These suggested improvements ensure that the company's mission and vision remain highly relevant and forward-looking. They acknowledge the increasing demand for seamless digital experiences and the growing importance of sustainability in the financial sector, a trend also observed in the broader Competitors Landscape of Synchrony Financial.

Strengthen Alignment with Emerging Technologies and ESG Leadership

By explicitly integrating commitments to emerging technologies like AI and a strong stance on ESG leadership, the company's foundational statements can better reflect its strategic direction and operational impact. This proactive approach helps in navigating a dynamic industry landscape and meeting stakeholder expectations for responsible corporate citizenship.