[2] The company offers consumer financing products, including credit, promotional financing and loyalty programs, installment lending to industries, and FDIC-insured consumer savings products, through Synchrony Bank, its wholly owned online bank subsidiary.

The lending arm remained GE Capital Retail Bank until it was spun off from its parent company in June 2014.

[9][10] In 2018, Synchrony acquired Loop Commerce, which provides a patented digital gifting platform called GiftNow.

Additionally, PayPal agreed to extend its existing co-brand credit card relationship with Synchrony through the same 10-year term.

[23] Synchrony has four "Innovation Stations," which are located in Stamford, Connecticut; Chicago, Illinois; Kettering, Ohio;[24] and Hyderabad, India.

[31] In June 2014, shortly before Synchrony's New York Stock Exchange debut, the U.S. Consumer Financial Protection Bureau and the Department of Justice reached a $225 million settlement with the company after it entered into a consent decree with the Consumer Financial Protection Bureau.