July 2025 Product Update

In July, our team delivered a series of enhancements that improves how users navigate the Synctera Console and provides enhanced data visibility for Synctera’s customers and sponsor bank partners.

These updates include:

• Updating the wire file format to adhere to FedWire ISO 20022
• Enabling better reporting of P2P transactions
• Launching new reports and dashboards within Synctera Insights

While this update doesn’t cover everything we’ve released, it highlights some of the most impactful updates we’ve made this month. Let’s dive in!

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Updating the wire file format to adhere to FedWire ISO 20022

The Fed recently updated their template for how information is exchanged in wire transactions. For our customers and bank partners, the Synctera Platform both ingests incoming wires and sends outgoing wires via our sponsor banks.

To ensure our customers and bank partners are able to send and receive wire files according to the new update, we updated our wire files to adhere to the new ISO 20022 format. In addition to updating the file format, we also made sure that all of this data is easily accessible within the Synctera Console. Having the ability to easily view all wire data in the Synctera Console enables FinTechs and banks to easily manage returns, track transactions, and mitigate fraud. 

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Enabling better reporting of P2P transactions

Peer-to-peer (P2P) transactions move money from one account on a FinTech’s ledger to another account on the same ledger. P2P transactions are commonly used by platforms like Venmo, Cash App, or Zelle to instantly move money from one end-user to another. 

For our customers that utilize P2P transactions in their products, we have improved the categorization of these transactions within the Synctera Platform by introducing a peer_to_peer transaction sub-type. 

Synctera’s customers can now add the P2P transaction sub-type to the API call anytime this type of transaction is conducted. Doing so enables our customers to more easily track these transactions flowing through their system so they can create segmented reporting or build unique business logic. 

Check out our developer documentation to learn more about adding the transaction sub-type to P2P transactions. 

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New reports and functionality in Synctera Insights

Risk & Compliance Overview

We recently launched a new Risk & Compliance Overview dashboard that provides risk and compliance teams with a quick snapshot of operations and key risk metrics. This dashboard allows Synctera Insights users to easily track and analyze metrics such as:

• Deposit outliers
• ACH return rates
• AML cases by FinTech
• Open and completed cases

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Device ID Fingerprinting Dashboard

Synctera recently launched the ability for our customers to track which devices their end-users are using by linking API calls to specific devices. 

Last month our data team published a dashboard in Synctera Insights that gives our customers and bank partners visibility into key metrics related to the devices being used. Understanding user device data can help Synctera’s customers better mitigate fraud or unauthorized access to their end-user accounts. 

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SyncteraPay Summary Dashboard

SyncteraPay enables Synctera’s customers to leverage any external payment provider while still having all transaction data flow into the Synctera Platform. This allows for better fraud mitigation, streamlined AML workflows, and a centralized location for all transaction data. 

To enhance the reporting of SyncteraPay transactions we recently launched a SyncteraPay Summary Dashboard that breaks down:

• External transaction volume over time
• A summarized view of payer / payee information

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Case Notes Keyword Filters

When working a fraud investigation, KYC review, or other type of case in the Synctera Platform, those cases contain a detailed record of the exchanges between operations personnel and end-users. To better filter and find past cases, users of Synctera Insights can use the Case Notes report and filter by specific keywords to find the cases those keywords contain. 

For example, compliance operations personnel can now easily view cases that contain keywords such as “account takeover” or specific types of fraud to see these in aggregate and gain a better understanding of the volume of these cases.