Blog
Product

Changelog: September 2022

October 2022
Read the latest Changelog to learn about:
  • Synctera Line of Credit
  • Updates to Synctera Cases
  • Address verification data for transactions
  • Updated External Accounts page
  • Banning identities
Blog
Product

Changelog: September 2022

October 2022
Read the latest Changelog to learn about:
  • Synctera Line of Credit
  • Updates to Synctera Cases
  • Address verification data for transactions
  • Updated External Accounts page
  • Banning identities
Jane Zimmerman
Head of Marketing

Jane leads Marketing at Synctera, helping the world understand why Synctera is the best platform for building FinTech apps and embedded banking

Synctera Line of Credit launched 

We announced the alpha launch of Synctera Line of Credit. A BaaS industry first, Synctera Line of Credit allows both FinTech developers and established companies to quickly create innovative lending products or embed lending services into existing offerings. For FinTech developers building with the Synctera platform, Line of Credit is available immediately via a ready-to-use API.

Updated Information Request case type

We updated the Information Request case type in Synctera Cases to allow permissioned users to view and download notes and documents attached to the case after the case has been closed.

Address verification data now available for transactions

FinTechs can now see the request and response of the Address Verification Service (AVS) call that is executed during card transaction processing. This provides them with more insight into potential declines or fraud. When available, the address_verification object is now included in the user_data structure for each transaction.

Updated External Accounts page in the Synctera Console

In the Synctera Console, the External Accounts page, which shows information about an external account to which a FinTech customer has linked his/her account, has been updated to show which provider (if any) verified the account, when the initial verification occurred, and when any subsequent verifications occurred. Users can access the External Accounts page via the Customers tab in the Synctera Console.

External account verified by an approved third party

External account verified manually

Banning identities

In an effort to prevent fraud, we've added the ability to ban identities on our platform. If an identity has been confirmed to be associated with fraud, Synctera Console users can choose to ban that identity with enforcement based on tenant access. Banning an identity will prevent money movement for all created personal customers matching that identity.  Any new personal customers with matching identity information will also enter a banned state, preventing any actions such as KYC that might cause you to incur fees. For accounts associated with banned customers, your operations team should zero out the balance in a suspense account and close the account.

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