Private label credit card firm, Synchrony Financial, joins R3 CEV
One of the largest providers of private-label credit cards in the US, Synchrony Financial, has joined the R3 CEV blockchain consortium. Executive VP and CIO Carol Juel said joining the R3 network would be valuable as the company looks at the "many opportunities for blockchain to be leveraged across the consumer finance landscape". It joins over 60 top global financial services firms including investment bank Goldman Sachs and data company Thomson Reuters.

Blockchain consortium R3's mission to extend its membership base across the full spectrum of financial services has been boosted by the arrival of US consumer finance outfit Synchrony Financial to its roster.

Synchrony Financial - one of the largest providers of private label credit cards in the United States - joins more than 60 of the world's biggest FS players - including banks such as Goldman Sachs, insurance outfit MetLife and data firm Thomson Reuters - as an R3 member.



Synchrony Financial executive VP and CIO, Carol Juel, says: “Having access to the R3 network and research will be valuable as we think through the many opportunities for blockchain to be leveraged across the consumer finance landscape.”