SAN FRANCISCO–(BUSINESS WIRE)–Synctera, a leading FinTech platform that helps innovators bring financial products to market more efficiently, has launched Ground controlan end-to-end banking and compliance operational support program for financial product developers and builders. Ground control is a free service that helps Synctera’s clients with the operational support they need to ensure banking and finance obligations are met as they launch, scale and build internal teams.
With ground control, Qualified FinTech builders can choose to have key compliance tasks managed by Synctera, including those related to Know Your Customer (KYC), Bank Secrecy Act (BSA) and anti-money laundering (AML) regulations, fraud and customer disputes. Everything is managed in Synctera casesan automated communication system that provides transparency to the FinTech builder and banking partner.
“Ground Control is our newest solution to common challenges faced by FinTech builders, all with the goal of empowering more efficient product development and shortening time to market,” said Dominik Weisserth, Product Manager and Co-Founder of Synctera. “Ground Control delivers a better outcome for FinTech builders by offering them the leverage to thoughtfully build a long-term compliance solution. The added support also provides peace of mind to banking partners, who need to meet regulatory and compliance requirements.”
“There are so many opportunities for error when setting up onboarding and transaction monitoring for a new financial product,” added Sarah Mirsky-Terranova, Chief Compliance Officer at Synctera. “The additional support from Ground Control allows developers and contractors to go to market confident that these back-end compliance needs are met while they build out larger teams of their own to bring the services in-house. The initial support provides also the FinTech builder the opportunity to establish the compliance procedures and the team that will meet their needs and the requirements of the banking partner.”
Ground control supported by high-quality banking and compliance operations providers, including partners such as MinervaAI – an enhanced due-diligence platform that helps companies achieve improved risk assessment on user profiles in dynamic, fast-moving environments – and Ubiquity – the leading provider of business process outsourcing for highly complex verticals such as FinTech and crypto, healthcare and e-commerce.
“We wanted to make compliance with financial crime regulatory requirements fast, affordable and efficient, so that every organization can demonstrate that they are doing what they need to do to keep dirty money out of their business,” said Jennifer Arnold, CEO and co-founder of MinervaAI. MinervaAI’s real-time risk assessment means we can keep bad actors out by stopping them from entering the ecosystem in the first place, and we’re excited to partner with Synctera to ensure startups and enterprises alike have the best tools to combat financial crime. ”
“As neobanks continue to innovate and offer new value propositions, the risks associated with financial crime have never been higher,” said Corey Besaw, president of Banking Operations and co-founder of Ubiquity. “Programs like Ground Control are instrumental in maintaining high compliance rates, but they are even more powerful when combined with dispute and chargeback management that is also compliant, customer-friendly and protects against unnecessary losses. The most successful neobanks anticipate and prepare for the challenges of to balance security, compliance and seamless customer service as they grow.
Ground Control is a free program available to qualified FinTech builders who build and launch financial products on the Synctera platform.
More information about all Synctera products can be found at www.synctera.com.
About Synctera
Launched in 2020, Synctera is driving the future of FinTech. Its end-to-end platform and guided, personalized experiences help FinTech builders create world-class products with embedded banking, card issuance and more. Synctera’s unique programs enable transparent, efficient partnerships between compatible FinTech builders and community banks, whether a FinTech builder wants to quickly launch an MVP or scale a full-fledged offering. Everyone wins – FinTech builders create, launch and scale great products, fast and community banks gain access to new revenue streams and markets.
Learn more at www.synctera.com.
About MinervaAI
Founded by AML industry experts, MinervaAI is a regtech platform powered by deep learning and automation to satisfy AML regulatory requirements based on clients’ risk appetite. Customers use the platform both for end-to-end AML risk management and to fill gaps in their current AML technology stack. Regulatory use cases include; Onboarding (watchlist screening, KYC, KYB, due diligence), risk scoring, enhanced due diligence, investigations, beneficial ownership and continuous monitoring
About Ubiquity
Ubiquity’s relationship-based outsourcing pioneers next-generation CX, changing how brands interact with customers in an omnichannel world. Our teams of dedicated problem solvers combine deep industry knowledge with an agile methodology to understand how the customer experience supports a brand’s goals and plan to accelerate towards them. Ubiquity provides multilingual, end-to-end solutions across industries, including customer experience management services, interactive voice response (IVR) and AI-enabled technologies, and banking operations support, which includes fraud investigation, ID verification and dispute and chargeback management .
