Synctera

Synctera provides banking-as-a-service infrastructure covering bank accounts and digital wallets, debit and credit card programmes and money movement, with risk and compliance tooling and Cable, an automated compliance testing product for banks and fintechs.

Framing compliance as keeping both the fintech and its sponsor bank safe is the most honest description of the arrangement anyone in this category offers. The sponsor bank carries the regulatory exposure for what the fintech does, which means the bank's risk appetite governs the product, and a fintech that treats compliance as the bank's problem discovers otherwise when the programme is suspended.

Cable as automated compliance testing addresses a specific and unglamorous failure. Having controls is not the same as demonstrating they work, and the enforcement actions in this sector have repeatedly turned on banks unable to evidence that oversight of fintech partners was actually performed rather than merely documented. Automated testing produces that evidence continuously.

Selling to both banks and fintechs is coherent for the same reason, since the two sides of the relationship need to agree on what is being tested and what the results mean. Products cover accounts, cards and money movement for scalable and compliant programmes. Rates are not published.