Synctera announces new developer program that dramatically speeds up time to market for FinTech founders and also launches support for business accounts
FinTech Banking provider signs Middesk as KYB partner and Arroweye as card production partner
October 25, 2021
SAN FRANCISCO, CA (October 25, 2021)—Synctera, a new FinTech Banking solution, launched t-minus10 today, an innovation that enables any developer to build an end-to-end FinTech application in a matter of days, including card issuance. t-minus10 will dramatically decrease time to market for FinTechs by giving them the tools to create a prototype, test with live cards and accounts and set up a waitlist. With this in hand a FinTech now has a much easier path to find their ideal partner bank and set of investors pre-launch.
“For most FinTech startups, their story begins with a crazy idea, an ambitious founder or two and a few determined developers,” said Peter Hazlehurst, CEO of Synctera. “We launched t-minus10 to make it easy to bring these ideas to life as quickly as possible—everything we’re building is about setting these teams up for success and getting to market faster. ”
Developers Asked. Synctera Delivered. Pre-launch support with t-minus10
With t-minus10, developers will be able to build their FinTech on the Synctera platform, issue virtual or physical cards within days, and start testing their MVP or beta—all before even engaging with a bank or landing funding. Historically, there has been no way to test a debit card program, send an ACH or push funds to a debit-card in the real-world. Life was sandboxes and theory. Experimentation and prototyping was effectively impossible. t-minus10 solves the founder conundrum: banks want them to be venture funded, and VCs know that bank supply is limited and thus require a sponsor bank to be partnered up.
What do you need as your first idea comes to light? A pre-engaged community of FinTech customers for your idea. Synctera today is launching Synctera Waitlist, a free and simple integrated platform designed to capture initial interest and encourage pre-engagement and leaderboards to virally prepare for launch day. With Synctera Waitlist, FinTechs can identify and engage with potential early adopters, keep them informed via an email subscription, reward them for referrals and onboard customers to pilot phases in a controlled manner.
<div class="rt-btn-wrap"><a href="https://app.synctera.com/sign-up" class="button yellow w-button">Sign up for t-minus10</a></div>
Card Production and Personalization Made Easy Thanks To Partnership with Arroweye Solutions
Synctera is also pleased to announce its partnership with Arroweye Solutions, which will enable on-demand physical card production and fulfillment on the Synctera platform. Arroweye’s flexible, on-demand capabilities make it easy for fintechs to create flexible card designs, including the ability to have a custom photo/image per card.
Expanding FinTech Banking for Businesses
Building on its strong momentum supporting consumer-facing FinTechs since its launch in late 2020, Synctera is extending its platform to support FinTechs serving business customers, signing TipHaus as the first business focused FinTech on the Synctera platform, and Middesk as a strategic partner for Know Your Business (KYB) services.
Through Synctera’s platform, FinTechs can now automatically verify business customers using primary government source data with Synctera KYB. Synctera’s platform has also been enhanced to support FinTechs that want to offer interest-bearing deposit accounts to their consumer or business customers. Business accounts include support for multiple debit card holders, separate spending limits and dedicated sub-accounts for employees. Synctera’s unique marketplace approach also helps match business-focused FinTechs with the right bank partner, while equipping them with the banking infrastructure to get to market quickly, streamline day-to-day operations and remain compliant.
“We were seeing tons of demand from FinTechs looking to serve business customers in cool and innovative ways,” said Peter Hazlehurst, CEO of Synctera. “So we added several new capabilities to the platform to meet the needs of this huge and exciting segment.”
To support its Business offering, Synctera turned to Middesk to automate over 50% of KYB decisioning without the need for manual analysis, 5X more than the next best provider.
Connect with us at Money 20/20
Join Synctera CEO Peter Hazlehurst at Money 20/20 for his keynote presentation, where he’ll discuss these developments in more detail.
FinTech Banking: Banks and FinTechs Working Together to Win Monday, October 25th at 9:15 am to 9:35 am
Immersion Stage, Expo Hall, Level 2
Community banks and FinTechs are encouraged to reach out via Synctera’s website to learn more about how to best work together. For more information, please visit www.synctera.com.
For visual assets, founder bios and headshots, FAQs, and more, please access the media kit here.
<div class="about-wrapper content-bottom card-standard">About Synctera Synctera brings banks and fintechs together via a marketplace model and provides a technology platform that allows them to partner more effectively and efficiently, reducing risk and speeding up time to market. Launched in 2020, the company was co-founded by CEO Peter Hazlehurst, former head of Uber Money, head of Google Wallet and CPO at Yodlee, as well as CTO, Kris Hansen and Head of Product, Dominik Weisserth. For more information, please visit www.synctera.com </div>
<div class="about-wrapper content-bottom card-standard">About Middesk Headquartered in San Francisco, CA, Middesk makes it easy to verify the legitimacy of any business. By providing reliable access to Secretary of State data in all 50 states, Middesk enables innovative companies to accelerate onboarding while managing risk at scale. Middesk’s business identity product applies modern data science and machine learning techniques with trusted data sources to verify business identities in real-time, improving coverage rates while cutting manual review times. Middesk is backed by Sequoia Capital and Accel Partners. To learn more, visit middesk.com </div>
<div class="about-wrapper content-bottom card-standard">About Arroweye Solutions Arroweye Solutions is a unique Card Production, Personalization, and Fulfillment organization with true On-Demand digital ‘Short Run’ and ‘Large Order’ printing, Zero Waste, and Zero Inventory fees. The results are clear when you partner with Arroweye—increase a Program's speed to market, adoption rates, and profitability. Founded in 2000 with an entrepreneurial culture, Arroweye has brought together the best team of experts who have the drive to innovate and the commitment to help our clients grow. Arroweye is a payment technology company constantly bringing innovation and new ideas to every solution we put forth. To learn more, visit arroweye.com </div>
<div class="rt-btn-wrap"><a href="https://app.synctera.com/sign-up" class="button yellow w-button">Start building with t-minus10 </a></div>
Subscribe to newsletter
Subscribe to receive the latest blog posts to your inbox every week.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Great banking products get built and scaled on Synctera’s end-to-end platform
Get started to learn how Synctera can bring your product vision to life
Synctera and featured clients are financial technology companies and not a bank. Banking services are provided by Synctera's partner banks who are Member FDIC. Mastercard® Debit Cards are issued by Synctera's partner banks pursuant to a license from Mastercard® and may be used everywhere Mastercard® debit cards are accepted.
Synctera Canada is a registered Money Service Business with FINTRAC. Synctera Canada is not a financial institution. Banking services are provided by Synctera Canada’s partner banks who are CDIC members. Mastercard® Prepaid Cards are issued by Synctera’s partner banks pursuant to a license from Mastercard® and may be used everywhere Mastercard® is accepted.