Synctera Smart Card Charge Card - Consumer Secured

We launched a complete solution in alpha for FinTechs and businesses to create and issue secured charge cards to their retail consumer customers.

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Use Case Explorer

Our new Use Case Explorer in the Synctera Console shows FinTechs how to sequence Synctera API calls to build different FinTech and banking experiences for their customers. Each blueprint shows the API calls that power the experience alongside a demo of what customers would see on mobile. 

Authorized users

For accounts where the primary account holder has successfully undergone KYC or KYB, FinTechs can now add authorized users who do not need to undergo KYC to transact or be issued debit cards. Authorized users will need to be checked against the OFAC watchlist.

Document upload

On the Customers tab of the Synctera Console, FinTechs can now upload and retrieve documents tied to specific purposes such as an account application or address verification. Synctera also supports encrypting documents when they contain sensitive information such as SSN or other sensitive PII. Access to documents in the Synctera Console is controlled by permissions so FinTechs and their sponsor bank partners can administer access. 

Restricted Accounts and Applications

FinTechs that want to review and approve an application prior to opening an account can now use Restricted Accounts. With the restricted account flow, a customer submits an application, an operations team member reviews the application in the Synctera Console, and an account is created upon approval of the application. 

Running OFAC checks without running KYC

We now support the ability to run OFAC checks as needed on FinTech customers, without having to run KYC. We launched this feature to support FinTechs who do not use Synctera KYC and instead use a different KYC vendor that doesn’t support OFAC checks. 

Issuing cards for customers who have not undergone KYC

For certain card programs, KYC may not be required for cardholders. In other cases, KYC may be required, but for operational reasons, a FinTech may want to issue cards before the cardholder undergoes KYC. The ability to support both of these situations is now available and can be configured at the card product level by Synctera’s Implementation and Onboarding Team. 

Returning metadata in Card API

The Card object has a metadata structure that FinTechs can use to submit their own data/references as key-value pairs when issuing a card. Previously, this metadata object was not returned in the card response, but has now been added. 

Accepting same-day ACH outside of the window

When FinTechs request “same-day ACH” outside the same-day window, Synctera will accept the request and send the ACH as same-day in the first next available exchange window without returning an error message in the API. This way, FinTechs don’t need to code around error messages. For example, if a FinTech requests a same-day ACH on Tuesday at 7pm, Synctera will accept the request and send the ACH in the first morning ACH exchange on Wednesday as a same-day item.

ACH API update

Bug fix: We added idempotency key to the Send an ACH API.

Webhooks for case updates

We now send webhook events every time a case is updated in Synctera Cases. This new change is especially useful for Fraud cases: when a fraud transaction that was flagged has been approved by the FinTech’s operations team, the FinTech can use the webhook to notify its customers. FinTechs have to subscribe to the CASE.UPDATED webhook to get these notifications. 

Tabapay reconciliation

Synctera Reconciliation now processes Tabapay reconciliation files as a standard payment method in reconciliation.