Overview
Synctera supports 2 paths for fee/reward orchestration: 1. Orchestration by FinTech (you):- You use the Synctera Fee API for the setup and orchestration.
- This is described in the API Guide for Fees and Rewards.
- You use the Synctera Console to set up Fee/Reward Products and link to account templates. The Synctera system then automatically applies the fees and rewards to customer accounts based on the setup.
- The setup steps for these automated fees and rewards are described in this article.
- NOTE: You can also use the Synctera Fee Product API for the setup, although the Console is recommended as this is typically a one-time or a low-frequency task.
Key Building Blocks
The setup of both automated fees and rewards on the Synctera platform follows the same pattern.- Fee/Reward Templates are used to specify the type of fee or reward, and to set default values, such as description and the internal account used as offset for the fee debit or reward credit.
- Fee/Reward Rules are linked to fee/reward templates and are used to specify to which transactions and the fee/reward should be applied and how (fixed / percentage / tiered).
- Fee/Reward Products are used to bundle multiple fee/reward rules into reusable packages (e.g., Basic vs Premium). These fee/reward products can then be linked to the Account Template, which means that all accounts created using that template inherit all the fees/rewards that are bundled into the linked products.
Prerequisites
- You have created customers, either personal or business
- You have created accounts for these customers.
- Internal accounts have been created based on how you want to group your fee/reward transactions. Please ask Synctera Operations to create these.
Setup
- For details on the setup of automateed fees, see this article.
- For details on the setup of auotmated rewards, see this article.