Synctera

Join us at Money20/20 for a breakfast and panel discussion on BaaS and embedded finance! 🎤 For banks currently operating a BaaS program or thinking about entering the space, understanding how to build a program that is ready to scale compliantly is at the forefront of everyone’s minds. We’ve brought together a panel of operators at current BaaS banks and compliance experts to provide insights on how they are adjusting to the current regulatory climate and what the future may hold 💡 The event will be from 8:30am - 10:00am on Monday, October 28th at Liam’s Den (previously Status Lounge) located within The Venetian Resort. Click the link below to register 🔗👇 space is limited so reserve your spot before it fills up! https://lu.ma/0o703uc8

Our customer, Adro, is creating a more seamless financial experience for international students in the U.S. 🎓 💳 Adro was founded on the idea that international students and workers should be able to open and fund a U.S. bank account before they arrive. Then, upon arrival, they can easily receive a debit or credit card and begin spending in U.S. dollars on day one 💸 Since their launch, Adro has onboarded users across 300+ colleges and universities in the United States. Click the link below to learn more about how Adro partnered with Synctera to provide international students easier access to U.S. banking 🔗 👇 https://lnkd.in/eqk3B2Ye

Check out the new features and enhancements we launched in the past month for our customers and bank partners! 🚀 Throughout the month of September, our product and engineering teams shipped new functionality, such as: - New transaction details UI in the Console 💻 - Credit statement improvements for disputed transactions 💳 - User management enhancements for Console users ⚙ Learn about these updates and more in our September Product Update using the link below! 👇 https://lnkd.in/g7Sd3FQT

Next week we'll will be exhibiting at Jack Henry Connect! Stop by our booth to chat with our team about the future of embedded finance and learn how Synctera enables banks to build and scale a compliant sponsor banking program. We hope to see you there 👋 #JHConnect

This week, we reflected on four years of hard work at Synctera while also celebrating a new promotion cycle. As one of the first employees at Synctera it's been amazing to see not only how much the company has grown, but also how much the people have grown alongside it. It was inspiring to celebrate some of our longtime, and extremely talented, team members as they take their next step at the company. To cap this week off, I'm thrilled that Synctera has been named one of “America’s Most Loved Workplaces” for 2024 by Newsweek! It’s been quite a ride so far and we’re looking forward to everything that the future holds for us. 😊 #synctera #lifeatsynctera

Congratulations to our customer Adro on their official launch! 🚀 🙌 Adro provides international students in the US with easier access to financial services through their no-fee checking and savings accounts and card products. It's amazing to see the impact they've already made by providing a more seamless financial experience for international students 👏

We’re excited to announce our partnership with Giesecke+Devrient (G+D) to provide our customers with new card printing capabilities! 💳 🙌 G+D offers an end-to-end card fulfillment solution and specializes in premium quality cards to create truly differentiated end user experiences. We have traditionally offered customers an on-demand card printing option and our new partnership with G+D enables us to provide our customers with unique benefits, such as: 1. Ability to manufacture and ship locally in a variety of regions globally 🌎 2. A wide range of premium quality card printing materials ✨ By partnering with G+D, Synctera not only provides companies with all of the components they need to build a scalable and compliant card product, but also equips them with the flexibility needed to fit the unique needs of their customers. https://lnkd.in/d-Kiwq9g

It’s been four years since we started Synctera and set out to build what we thought would be “Shopify for Banking.” As I was leaving Uber and the Uber Money team, it was clear that building banking into other products was a super hard problem that required a ton of resources to solve. Unlike payments and solutions like Stripe, there wasn’t an easy to adopt solution for embedded banking. The layers of compliance are significantly more challenging and complex relative to acquiring & the feature set much richer. Just as Shopify opened the door for selling things online, we wanted to do the same for companies to offer innovative banking products in a safe, compliant, intuitive, and scalable way. Balancing ease of adoption with compliance means that we’ve built a thriving marketplace of sponsor banks and companies launching products. This ecosystem, paired with a robust tech platform built on the core principles of banking, provides both sides with what they need to work together for the long term. By the numbers since Q1 2022: 50+ signed customers, 9 sponsor banks, hundreds of millions of GMV, revenue nearly tripled last year, doubling this year and growing between 5-10% every month. Here’s a few things that we’ve learned along the way: - Relationships are essential and technology can enhance them. The Synctera Console provides a shared interface for both sides of the marketplace to communicate and manage their programs, offering tools and support so we can get out of the way. - Building for scale is everything. Our platform has reconciled over $120 billion in transactions and end users on our platform have grown 2.8x over the past year. We’ve put a lot of work into making it so that each time a transaction comes in there is less human effort or room for error. - Embedded finance is the future of Banking as a Service. While new FinTech startups will create innovative banking products, the real growth will come from established companies integrating banking and payments with their existing offerings. Our latest customers, like BTG Pactual and Webull, as well as our current pipeline, tell us that this trend will continue. What do the next four years look like for Synctera? We’ll continue in our efforts to standardize and build compliant solutions for customers. Will we ever get it so cookie-cutter that a Shopify-like solution can exist? Probably, and it’s a big goal. Accomplishing this will unlock a new phase of innovation for FinTech in 2026 and beyond. To bring the “Shopify for Banking” promise to life, we’ll keep scaling and making things even more seamless, and encourage strong and long lasting relationships between companies and their partner banks. The right way. Thanks to all past and present Syncterans, our investors, sponsor banks, partners and customers for all your support and trust in us. It takes more than a village to build and deliver Synctera. At the risk of playing off a contemporary thread: “Four more years….” Tx P

Synctera’s Director of People, Zoe Schafer, recently contributed to an eBook highlighting the evolving role of flexibility in the workplace. In the eBook Zoe says 💬 “Flexibility is about limiting friction, tearing down boundaries, and really focusing on getting the work done in the way that is most comfortable for our employees so that we're still being really effective, but we're not creating useless rigidity.” P.S. we’re currently hiring so head to our careers page to see our open roles!

Data transparency is essential to sponsor banks and FinTechs forming successful partnerships 🤝 Learn more about how the Synctera Platform facilitates complete data transparency and our newly launched FDIC Custodial File, ensuring our bank partners are ready when the recently proposed regulation goes into effect.