Synectics Solutions crowned Best Technology Provider for Sky venture

Synectics Solutions is proud to share that we and our client Sky won “Best Technology Provider” at the 2023 Credit Strategy U&T Awards. The award-winning project saw our teams develop cutting edge tools and strategies to proactively combat Sky’s most persistent fraud challenges, in particular “no intention to pay” customers.

Forecasts place year-on-year bad debt reduction at a minimum of 15% - far exceeding Sky’s expectations and unequivocally strengthening the organisation’s resiliency to financial losses. The project’s early success is already being hailed as a blueprint for new fraud prevention possibilities in the tightly regulated U&T sector.

The ambitious venture was launched after Sagacity – leading data consultancy with credit risk expertise - noticed that Synectics Solutions could add significant value in solving Sky’s unique fraud challenges.

Along with FICO, a tripartite project was established. Synectics’ data intelligence and counter-fraud solutions were coupled with Sagacity’s credit risk analytics, strategy and consultancy, with support from FICO’s scoring mechanisms.

The project yielded extraordinary results, which we are thrilled to have recognised by the Credit Strategy U&T Awards.

Murray Raw, Head of New Business at Synectics Solutions, says, “This outstanding achievement is a result of monumental collaborative effort. I believe our award-winning project is just the beginning of what we can accomplish with Sky and is a prime example of our ethos of “using data for good” in action”.

Harry Dougall, CFO and Founding Partner at Sagacity adds “It's fantastic that Sagacity was able to play such a key role with the implementation of SIRA right from the beginning of the proof of concept to the final delivery.

This was a complex tri-party technical implementation, and our technical and business readiness plans ensured a smooth implementation to deliver the project on time which is a great accomplishment. Based on the PoC results and early indications, the benefits are expected to be material.”

Glenn Rumbol, Risk Controller at Sky, says ““Synectics has demonstrated outstanding innovation and exceeded the highest standards of excellence in providing their risk and fraud solution. Their team of experts showed remarkable prowess in fostering collaboration with Sky and its technology partners.”

 To learn how Synectics Solutions combines authoritative private and public sector data sources to powerful effect, click here.