Synctera

About Synctera

Synctera is a startup operating in the financial technology (FinTech) sector, specifically in the burgeoning field of Banking as a Service (BaaS). It provides a platform that enables businesses to create and launch their own banking and financial products. This is particularly useful for companies that want to enhance their value proposition and generate additional revenue by offering banking services to their customers.

The company's platform is built on a set of secure, flexible application programming interfaces (APIs). These APIs allow businesses to access a range of best-in-class technologies needed to create a robust banking product. Synctera also provides comprehensive documentation to assist businesses in the development process, regardless of their familiarity with the financial industry.

Synctera's business model is based on partnerships with a wide range of sponsor banks. These banks provide the actual banking services, while Synctera facilitates the relationship between the business and the bank. This model allows businesses to focus on their unique product vision and target market, while Synctera and its partner banks handle the banking side of things.

The company operates in both the US and Canada, and it is expanding its platform to enable more businesses to create innovative banking products. It's important to note that while Synctera and its clients operate in the FinTech space, they are not banks themselves. The actual banking services are provided by Synctera's partner banks, which are members of the Federal Deposit Insurance Corporation (FDIC).