Bank User Guide
Bank User Guide
Onboarding a FinTech
Get started with onboarding a FinTech Step 1: Matching Synctera nurtures qualified FTBs to define program solution, economic terms, and desired launch timing. FinTechs opportunities are shared via email, with links to the FinTech’s due dili…
Managing Synctera ACH
Please see product description here. The Synctera ACH product provides the ability to create the required operating infrastructure to create ACH credits and debits, file exchange, process incoming ACH files, returns, reversals and…
Managing Synctera Debit Card
Overview Once the FinTech has started issuing Synctera Debit Cards to their customers, and customers have started to transact with their cards, the FinTech, you as the Sponsor Bank and Synctera will work together to keep the program rolling…
Managing Synctera Line of Credit
Please see product description here. At a high level, how does it work? The “roles and responsibilities” section details the operational and process flows for LOC. But at a high level, the flow is as follows: T-1: Borrower app…
Using Synctera Cases
Managing Synctera MRDC
Overview Once the FinTech’s end-users begin depositing checks via MRDC, the FinTech, the Sponsor Bank, and Synctera will work together to keep the program running. The main responsibilities of the bank are explained in the following sections. Depo…
Performing 314(a) Searches
FinCEN’s 314a Program, based on Section 314(a) of the USA PATRIOT Act of 2001, requires certain financial institutions to search their records for accounts and transactions of entities that may be involved in terrorism or money laundering. Every t…
Performing Reconciliation
In order to close the books successfully, Sponsor Banks and Synctera will need to go through an End of Day process that syncs the subledger and the FBO FinTech accounts on a daily basis. This includes the operational postings and updates needed as …
Insights
Overview The Synctera Console provides a set of reports on the Insights tab. These reports provide data insights that help you operate and monitor your daily operations and payments. These reports are classified into different categories: Cas…