This month, we rolled out several key updates designed to provide greater flexibility in the Synctera Platform and expose more data and controls in the Console. With these updates, our customers and bank partners can:

• Reduce customer onboarding friction by customizing the KYC strategy
• Take more control of payment operations with new ‘cancel ACH’ functionality in the Console
• Better understand a card transaction’s address verification response

While this update doesn’t cover everything we’ve released, it highlights some of the most impactful updates we’ve made this month. Let’s dive in!

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Save time and reduce customer onboarding friction by customizing the KYC strategy

Improve end-user onboarding and satisfaction by leveraging Synctera KYC, which now allows for even more customization based on a customer’s use-case.

To minimize unnecessary friction, standard risk indicators that don’t apply to a customer’s end-users can be bypassed or mitigated. For instance, a risk indicator might flag onboarding from locations far from an end-user’s legal address. If this behavior is expected, customers now have the flexibility to adjust that indicator.

As always, any KYC changes are subject to sponsor bank approval.

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Resolve payment operations requests quicker with new ‘cancel ACH’ functionality

Save time and enhance operational processes by giving customer support and operations teams the ability to cancel ACH transactions with a ‘pending’ network status directly from the Synctera Console. To cancel such ACH transactions, customer support teams can navigate to the transaction and select the ‘cancel ACH’ action. This new functionality leads to faster resolutions for end-users and improves operational efficiency.

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Quickly understand a card transaction’s address verification response 

To improve card acceptance rates, customers can use Synctera’s Address Verification Service (AVS) to authorize card transactions using not just their legal or billing addresses, but also alternative addresses, like shipping addresses, added to their account. This flexibility can improve card acceptance rates and create a more seamless customer experience. 

To further streamline this process, the Console now displays all addresses on file for each end-user, rather than just one, and highlights the specific address matched during a card transaction. This enhancement improves data visibility, enabling customer support teams to quickly identify the reasons behind card transaction declines and communicate them more effectively to end-users.

Before

Address Verification Data - Before

After

Address Verification Data - After