Synctera Launches Card and Fraud Products, Signs Plaid, Feedzai, Finix
On September 20, 2021, BaaS platform Synctera announced the launch of two new products—Synctera Card and Synctera Fraud—designed to help fintechs and their sponsor banks issue debit cards and process transactions. The company simultaneously signed strategic partnerships with Plaid for account connectivity, Feedzai for fraud prevention, and Finix for payment facilitation. Synctera also expanded its sponsor bank network by adding CFSB as its fourth partner bank, broadening the range of banking infrastructure available to its fintech clients.
The Cards API, launched in partnership with Marqeta and Mastercard in August 2021, underpins the new card issuance capabilities. By bundling card issuance, fraud detection, and payment processing into a single BaaS platform, Synctera aims to reduce the complexity fintechs face when building financial products. The multi-partner approach positions Synctera as a comprehensive middleware layer between fintechs and sponsor banks.
These launches strengthen Synctera's competitive position in the growing BaaS market alongside rivals like Unit and Treasury Prime.
- Synctera's bundled card, fraud, and payments offering intensifies competition among BaaS middleware platforms
- Expanding sponsor bank network gives fintechs more choices and reduces single-bank dependency risk