Synchrony is expanding the capabilities of its patented credit-decisioning tool, Prism.

The Stamford, Conn.-based digital bank has been investing in Prism since 2018, adding real-time data capabilities each year, Max Axler, executive vice president and chief credit officer of parent company Synchrony Financial, told Bank Automation News. The bank’s cloud-based, patented platform examines proprietary and partner data to analyze consumer creditworthiness, returning a decision to consumers in near real time, he said.

Prism, built in-house by Synchrony, has been used across more than 20 million new accounts the bank originates each year since its rollout in 2018, Axler said. The tech also aids in fraud prevention, account management, collections and recovery. The bank has 14 patent matters directed toward the platform.

The $119.5 billion bank can now underwrite and issue credit for retail consumers who have no credit history, he added.

“This is not only giving underserved and underbanked consumers access to financial opportunity, but Synchrony Prism has also helped underwrite $180 billion of sales a year for our partners.” — Max Axler, executive vice president and chief credit officer, Synchrony Financial

Developing patented technologies in-house can give banks a competitive advantage and increase revenues, Kriti Gupta, practice director at management consulting firm Everest Group, told BAN.

There has been an uptick in patent filing among banks in the U.S. and Asia-Pacific in the past two years, he said.

Patents in the pipeline

Synchrony’s patented technologies are developed in-house, according to Synchrony.

The bank had 27 patents issued out of 71 applications in 2024, with 87 patents issued since kicking off its patent program in 2017, the spokesperson said.

Not every innovation Synchrony creates is patented, a Synchrony spokesperson told BAN, adding that certain technologies are “trade secrets.”

“Many people think about patents as enforcement and protection, but it’s also about recognition of the inventors,” they said.

Synchrony has received eight patents in 2025, including six this month, according to the online U.S. Supreme Court database Justia.

The new patents are for technologies that will serve multiple use cases, including:

• Digital purchasing;
• Switching payment methods post-transaction;
• Card scanning;
• Secure transaction reversal;
• Persistent login;
• Self-checkout credit scanning; and
• Electronic data sharing.

Synchrony’s innovation strategy

In addition to its in-house patent program, Synchrony expands its product offerings through collaboration with fintechs such as Fiserv and Skipify.

The bank in 2021 integrated Fiserv’s Clover merchant payments app, and in 2022 announced it had added a buy now, pay later capability to the app. Synchrony also integrated Fiserv’s Advance Defense fraud decisioning tool in February 2024, Fiserv said at the time.

The bank in March 2024 launched an online checkout solution through Skipify’s Connected Wallet, a digital wallet that autofills payment details, Skipify said in a release.

Synchrony Financial reported $1.3 billion in other expenses in 2024, with tech spend among its investment priorities.

The bank’s innovation strategy involves a cross-functional incubation team that develops new products and capabilities, the spokesperson said. The bank’s inventor rewards program recognizes not only patent holders but any employees who submit product ideas, the spokesperson said.

“The team identifies disruptive trends, evaluates technologies, and develops and validates solutions that enable growth for our partners and deliver value to customers.”

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