Many of Synctera’s customers have asked to make it easier to share their end user accounts via Plaid so that they can be linked and shared with all of Plaid’s customers. The goal is to make it possible for someone to share their information just like they would a traditional bank via Plaid. The Synctera platform now integrates with Plaid’s Core Exchange. This integration enables the secure and seamless linking of accounts and efficient fund transfers, creating a more interconnected and user-centric experience.

We’re excited that companies that build banking products with Synctera can now allow their customers to easily link their Synctera-powered bank accounts to services such as Chime for personal finance or Acorns for intuitive micro-investing.*

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Core Exchange Benefits:

Plaid’s Core Exchange streamlines the account linking process and simplifies how a consumer or business owner engages with a vast array of over 8,000 financial apps and services including personal finance tools, investment platforms and business finance solutions that are using Plaid.

• Integration in hours, not weeks: Synctera customers can save on average 4 weeks of engineering time by leveraging our API with Plaid vs building the integrations themselves. Simply switch it on and go. 

• Account Verification and moving money just got easier: if your customers use say, Robinhood, for investing, they’ll be able to search and find your Synctera powered brand from the Robinhood app, then easily connect the two accounts together. The integration facilitates quicker fund transfers, reducing wait times and improving efficiency and reliability for your customers. 

• Better Personal Finance Solutions: Synctera’s Plaid integration enables customers to effortlessly connect their Synctera accounts to a diverse range of external financial apps.

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What This Means for Synctera Customers

Synctera has a number of customers already using Synctera’s Plaid Core Exchange integration and so we’ve worked through all the numerous edge cases related to sharing information. One highlight is UniFi, a comprehensive financial platform for families, with a focus on providing superior banking services to immigrant families to support their financial growth. With the Core Exchange integration UniFi is able to offer their users a smooth experience when connecting their UniFi bank accounts with their other financial services, enabling easy and hassle-free transfers between accounts.

”Integrating with Core Exchange was straightforward. We went from idea to production in just a few days. The process required minor updates to both our frontend and backend authorization logic. After making these changes, we had a joint call with Synctera and Plaid to perform a production test. By the next morning, our customers were able to use UniFi to link their credentials with other financial products,” says Matt King, UniFi founder and CEO.

The integration of Plaid’s Core Exchange into the Synctera platform is an enhancement that builds upon our existing capabilities, offering key benefits to our customers’ account holders. We’re excited to help foster a more accessible and user-centric approach to financial data sharing and management.

The best thing is that it’s free and if you’re a customer, we can have it enabled for you and within a few days your FinTech will be listed just like BofA or Chase in the Plaid linking experience.

To learn more about how the Plaid’s Core Exchange integration can create a better experience for your customers, please read the integration guide and contact us for a demo. We’re looking forward to collaborating with you to redefine financial services.

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*The names and marks associated with Acorns and Chime are their own intellectual property and are used herein for illustrative purposes only.

Synctera does not intend to imply any direct or indirect relationship, affiliation, endorsement, sponsorship, or association with any referenced companies.