This month we launched new ways for our customers to increase end-user account usage and rolled out enhancements to the Synctera Console to improve program visibility. 

These updates include:

• Instant Account Funding with Apple Pay and Google Pay
• Surcharge-Free ATMs powered by MoneyPass® from Fiserv
• Balance Comparison dashboard for reconciliation
• Enhancing visibility into user permissions within the Synctera Console 
• Improvements to the reporting of Spend Monitoring Cases

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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Instant Account Funding with Apple Pay and Google Pay

Back in 2023 we announced our instant payments products, Instant Account Funding and Instant Push to Card. These products allow end-users to instantly pull funds from an external debit card into their bank account or instantly push money from their account to a debit card.

With digital wallets becoming an increasingly popular way for consumers to store and move funds, we’ve expanded our instant payment functionality to include digital wallets. Now Synctera's customers can enable their end-users to instantly fund their new account through Apple Pay or Google Pay with a debit card in their Apple or Google wallet. 

This new product makes it easier for end-users to move money into their bank account, helping our customers scale usage more effectively. 

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Surcharge-Free ATMs Powered By MoneyPass® from Fiserv

Synctera’s customers can now offer surcharge-free ATMs to their end-users, powered by MoneyPass from Fiserv. This new capability gives end-users access to MoneyPass®’ Network of 40,000+ surcharge-free ATMs across the U.S.

Offering surcharge-free ATM access helps FinTechs and companies launching embedded banking products boost their competitiveness in the market, increase account usage, and enhance their overall customer experience.

Learn more about this new product in our recent announcement. 

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Balance Comparison Dashboard for Reconciliation

The Synctera Platform provides our customers and bank partners with the infrastructure and data visibility needed to keep track of all transactions and continuously stay in sync on account balances.

To make reconciliation and the monitoring of account balances even easier for sponsor banks we’ve added a new dashboard to the Synctera Console called Balance Comparison.

With the Balance Comparison dashboard, sponsor banks can get a quick snapshot of the account balances that are recorded on both their core and the Synctera Platform. They can quickly identify any discrepancies and find transactions that require manual reconciliation. 

The Balance Comparison dashboard in the Synctera Console provides enhanced visibility and tooling to make tracking account balances and performing reconciliation workflows more efficient. 

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Enhancing Visibility into User Permissions within the Synctera Console 

Ensuring Synctera Console users only have the permissions to do what is necessary for their job is key to a strong InfoSec and compliance program. This limits platform vulnerabilities and the risk of human error. 

However, sometimes a user’s role may change or they find that they do need access to view or action certain workflows. 

To make the process of managing user permissions within the Synctera Console we’ve made two different enhancements:

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Easily request additional permissions

When a user tries to access something they don’t have permissions for they will now receive a notification indicating exactly what permission is missing. There will also be an option to request permissions from the system’s admin with a single click.

Permissions Management Dashboards

Admins now have a holistic view of which users have which permissions in the new Permissions Management Dashboards within the User Management section of the Console. Easily view permissions by role and by individual user.

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Improvements to the reporting of the Spend Monitoring Cases

Synctera Insights allows Synctera's customers to generate reports that help them understand which spend control limits are triggered most often. This enables them to better understand user behavior and fraud patterns.

The Spend Monitoring Dashboard shows which spend controls are triggered most frequently, blocking end-user transactions. Having a good understanding of which rules prohibit end-users from conducting transactions can help companies better understand fraud patterns or diagnose user experience issues. 

These spend control reports now show human-readable names of the Spend Control that was violated, making it easier to understand their reporting and more quickly understand spend behavior on their platform.