Synovus Named One of America’s Most Reputable Banks in American Banker’s Annual Survey of Bank Reputations
COLUMBUS, GA., JUNE 28, 2016 — American Banker and the Reputation Institute have again named Synovus one of America’s most reputable banks in the magazine’s annual Survey of Bank Reputations. Of 33 banks included in the survey, Synovus ranked second overall and was one of four in the top 10 among both customers and non-customers. The Survey appears in the July issue of the magazine, which includes a cover feature on Synovus.
“Synovus’ second place ranking in this year’s Survey of Bank Reputations is further validation of our locally-focused, relationship-based business model,” said Kessel D. Stelling, chairman and CEO of Synovus. “Synovus team members have deep roots and a strong desire to make a difference in every market in which we operate, and the progress we’re making is a direct result of their success in serving customers and communities.”
Now in its seventh year, the annual Survey of Bank Reputations provides a detailed analysis of the components that together formulate corporate reputations, and how different banks rate on those measures. Synovus ranked sixth with customers and first with non-customers for its reputation. Synovus was one of 10 banks with numeric rankings in the “excellent” category among customers, meaning scores of 80 or greater. In addition, Synovus had the narrowest gap of all banks between its customer and non-customer scores.
“The most reputable banks recognize that perceptions of governance – inclusive of ethics, openness, honesty, and transparency, carries the most weight of importance among customers and non-customers,” says Stephen Hahn-Griffiths, VP managing director US & Canada at Reputation Institute. “However, they also realize that beyond the table stakes of delivering on products and services, that perceptions of workplace are increasingly important, accounting for 14.6 percent of their reputation among customers and 14.8 percent among non-customers.”
The list of America’s most reputable banks is compiled annually by American Banker and Reputation Institute, the world’s foremost research and advisory firm focused solely on corporate reputations. The results and related analysis can be found on Reputation Institute’s website at http://www.reputationinstitute.com/us-banking-reptrak and on American Banker’s website.
Synovus Bank is a Georgia-chartered, FDIC-insured bank. Synovus Bank, together with its affiliates, provides commercial and retail banking, investment, and mortgage services to customers through 28 locally-branded divisions, 253 branches, and 335 ATMs in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank was recognized as one of America's Most Reputable Banks by American Banker and the Reputation Institute in 2015 and 2016. Synovus Bank is on the web at synovus.com, on Twitter @synovus, and on LinkedIn at http://linkedin.com/company/synovus. Equal Housing Lender.
ABOUT AMERICAN BANKER
American Banker, a SourceMedia brand, is the essential resource for senior executives in banking and financial services, keeping its users updated on vital developments and focusing sharply on their most important concerns. American Banker Magazine is a monthly print publication, focusing on the ideas, the people, and the companies that are changing the way bankers do business.
In 2015, American Banker was the recipient of the American Society of Business Publication Editors (ASBPE) National Gold award for coverage of how federal bank regulations were preventing Somalis in the U.S. from sending money to their families in the war-ravaged country. In addition, American Banker was honored by the American Society of Business Press Editors for a then-prescient exploration of how Bitcoin and blockchain technology are likely to disrupt some traditional financial services businesses, as well as an in-depth analysis of the turnaround effort that saved a Midwestern bank from collapse.
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ABOUT REPUTATION INSTITUTE
Reputation Institute (RI) is the world’s leading consulting and advisory firm for reputation. RI enables many of the world’s leading companies to make more confident business decisions that build and protect reputation capital, analyze risk and sustainability topics, and drive competitive advantage. RI’s most prominent management tool is the RepTrak® model for analyzing the reputations of companies and institutions — best known via the Global RepTrak® 100, the world’s largest and most comprehensive study of corporate reputations, as well as Country RepTrak® and City RepTrak® studies that look at reputation across organizations within a given geography.