Synctera

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.

Next week we’ll be at the HR Technology Conference & Exposition in Las Vegas discussing the benefits of embedded banking??? HR and payroll platforms have been adding banking and card products to their existing product set, enabling them to: - Build a better end user experience by offering instant payouts or earned wage access products ?? - Add new revenue streams through interchange or other fees ?? - Differentiate their product from the competition??? If you’re attending and want to learn more about the benefits of adding banking products, reach out to us or our Senior Account Executive, William Morales ?? ?

Our customer, Ruby Card (YC W23), built the go-to banking solution for e-commerce businesses ?? ?? After starting a number of e-commerce businesses together, the co-founders of Ruby recognized that traditional banking products make it difficult for e-commerce businesses to get a complete view of their business finances. They have to partner with separate vendors for necessary services and none of them are integrated with each other, requiring them to go into multiple platforms and painstakingly compile data just to get a holistic view of their business ?? Ruby is solving this problem by building not just a banking product for e-commerce businesses, but a complete financial operating system ?? Learn more about Ruby and how Synctera enabled them to bring their product to market using the link below ?? ?? https://lnkd.in/gzgASqnV

Earlier this week our CPTO, Ellen Linardi, demoed the Synctera Platform on stage at Finovate! ?? Embedded banking was a hot topic of conversation throughout the conference. We heard lots of questions about the future potential and how both banks and companies should approach building and scaling these types of programs. It was great to get to show off key aspects of how our platform enables compliant and scalable partnerships between banks and companies wanting to launch embedded banking products ?? If you weren’t able to attend the conference but still want to learn more, feel free to get in touch! See you all again soon at the next conference! ??

Today Webull Financial launched their new Global Account product for customers in Brazil! ?? We’re proud to have partnered with Webull to help bring this product to market. With Global Account, Webull unlocks a complete rewards program for customers based in Brazil by enabling them to open a US bank account and then spend in US dollars and/or in BRL in Brazil ???? Using the Synctera Platform, Webull was able to access all of the components needed to build a great product, as well as, leverage a powerful set of tools and workflows to effectively manage compliance and operations. We’re excited to work and grow with Webull and watch their success continue in both Brazil and all over the world! ?? https://lnkd.in/g4jPBpNy

We’re excited to demo the Synctera Platform next Monday at Finovate Fall! ?? Our Chief Product & Technology Officer, Ellen Linardi, will be highlighting some of the key aspects of the Synctera Platform that help sponsor banks maintain control and data visibility over their programs ?? If you’re attending the conference, come check out our demo at 11:45 ET on Monday and then visit the Synctera team at our demo stand in the exhibit hall for more details!