In September, Synctera's product and engineering teams launched a variety of new features and enhancements! Let’s dive in with some highlights:

• New transaction details UI in the Console
• New card fulfillment vendor, G+D, brings premium options and global printing
• New FDIC Custodial File to comply with proposed FDIC rule
• Credit statement improvements for disputed transactions
• User management enhancements in the Console

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Updated transaction details UI in the Console brings important information to the forefront

The UI of thetransactions details view within the Console is updated with a new visual layout, bringing important information to the forefront and making it easier to view and access the details you need.

Similar to the previous design, you can continue disputing card transactions directly from this view. The corresponding dispute case will be linked for easy navigation.

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New FDIC Custodial File to comply with proposed FDIC rule

In late September, the FDIC published a proposed rule to provide regulatory clarity around the controls banks need to have in place when utilizing an FBO account structure. The rule highlights that banks need complete data transparency and processes to maintain data accuracy for FBO accounts, both of which are fundamental to how Synctera was built from day one.

To comply with the proposed rule, we created a new FDIC Custodial File per the new rule and will work with all of our banks to submit them when the FDIC is ready for daily uploads and the rule goes into effect.

You can read more about this announcement from our Chief Banking Officer, Dominik Weisserth here.

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Additional card fulfillment vendor, G+D, brings premium options and global printing

We’ve partnered with an additional card fulfillment vendor, G+D, to bring premium options and global printing to the Synctera Platform. G+D offers an end-to-end card fulfillment solution including the production, personalization, and shipping of cards. Additionally, using G+D as your card provider with Synctera provides two unique benefits:

1. Ability to manufacture and ship locally in a variety of regions globally: For customers with end users located outside of the US, the ability to fulfill card orders locally enables them to cut down on shipping costs and reduce the time it takes for end users to get cards in their hand.
2. A wide range of premium quality card printing materials: G+D offers card material options such as standard or recycled PVC, metal, polylactic acid, ocean bound plastic, biometric, and LED options.

G+D is fully integrated into the Synctera Platform, making it easy for companies building FinTech or embedded banking products to seamlessly onboard, issue and ship cards, and monitor for risk and fraud, all from a single set of APIs. 

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Disputed transactions are no longer included in an end-user’s end-of-month statement as ‘balance due’

We’ve made improvements to account statements for Smart Card and charge card accounts to ensure that disputed transaction amounts are not included in the end-user's balance due. This update also applies if an end-user has an autopay option enabled.

The dispute balance is now included as part of the statement object so end-users can be informed about the amount that is disputed.

You can review the update in our developer docs. 

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User management enhancements in the Console

We’ve reduced the steps needed for Console administrators to review users’ permissions, ensuring that individuals at sponsor banks and customers can easily access the tools they need. Now, specific permissions are easy to view by role or user group.

Additionally, users of the Console can now identify what access is needed to view or use restricted areas of the Console. This reduces the difficulty the administrator might have identifying what permission is needed.