Company Research Report: Symcor

Company Overview

• Name: Symcor

• Mission: Connecting for Common Good; help organizations thrive at every stage of their evolution.

• Founding: Founded as a joint venture in 1995 by Toronto Dominion Bank, Royal Bank of Canada, and Bank of Montreal.

• Key People:

• Holger Kormann – President and Chief Executive Officer

• Chameli Naraine – Strategic Advisor to the Board

• Craig Menzies – Senior Vice President, Client Service Delivery & Operations

• Paul MacDonald – Senior Vice President & Chief Information Officer

• Ana Brtan – Senior Vice President & Chief Human Resources Officer

• Elisabeth Demone – Senior Vice President, Chief Legal Officer & Secretary

• Saba Shariff – Senior Vice President, Chief Strategy, Product & Innovation Officer

• Aaron Sanderson – Senior Vice President & Chief Financial Officer

• Headquarters: No information is available

• Number of Employees: No information is available

• Revenue: No information is available

• Notable For: Provider of payment, security, and data services; pioneering digital transformations and secure data exchanges across major Canadian industries.

Products

COR.CONNECT - Open Banking Solutions

• Description: Facilitates secure data exchanges in Open Banking, enabling both data providers and recipients to streamline secure network access.

• Key Features:

• Real-time access to consented data through APIs

• Secure Network – supports FAPI advanced compliant data APIs

• Onboarding Support via a robust sandbox for testing

COR.IQ – Analytics & Intelligence

• Description: Comprehensive solutions for fraud detection and data enrichment through network insights.

• Key Features:

• High degree of accuracy in fraud alerts

• Real-time Fraud Prevention

• Image Verify using optical character recognition technology

COR.CCX – Customer Communications & Experience

• Description: End-to-end customer communication management solutions to enhance user engagement.

• Key Features:

• Policy Assist Central allows efficient communication of insurance policy changes

• Omni-channel platform for personalized user experience

COR.TRANSFORM – Process Optimization

• Description: Streamlines document and data management using intelligent automation.

• Key Features:

• Mailroom Optimizer to automate document classification

• Lending Optimizer for enhancing loan processing efficiency

COR.PAY – Payment Processing

• Description: Comprehensive suite of cheque and payment solutions designed to meet varied processing needs.

• Key Features:

• Image Account Reconciliation with fraud detection capabilities

• Exceptions and Returns Services for quick assessment and decision-making

Recent Developments

• Awards and Recognitions:

• Symcor Wins 5-Star DEI Employer Award for 2024

• Gold winner at the 2023 ANA B2 Awards in Media Strategy

• Partnerships:

• Collaborated with TD Insurance on Policy Assist Central, recognized at the Insurance-Canada.ca Technology Awards.

• Product Launches & Innovations:

• Launch of Policy Assist Central, a digitization tool for the delivery of insurance communications.

• Introduction of Payee Verify for combating authorized payment fraud.

• Strategic Initiatives:

• Preparing Canada for Open Banking with the COR.CONNECT platform.

• Advancing DEIB initiatives through comprehensive training and the establishment of resource groups for diverse employee networks.

This report summarizes the market position, product offerings, and recent initiatives of Symcor, showcasing its role as a pivotal technology service provider in Canada.