- 25 Jan 2023
- Updated on 25 Jan 2023
To prevent fraud, Synctera supports the ability to ban identities on our platform. If an identity has been confirmed to be associated with fraud, Synctera Console users can choose to ban that identity with enforcement based on tenant access. Banning an identity will prevent money movement for all created personal customers matching that identity. Any new personal customers with matching identity information will also enter a banned state, preventing any actions such as KYC that might cause you to incur fees. For accounts associated with banned customers, your operations team should zero out the balance in a suspense account and close the account.
Restricted accounts and applications
Synctera can manage scheduled payments on your behalf. Customers may want to automatically move money into savings or to automatically send money for a mortgage payment, for example. You can define the expected schedule via API. If necessary, Synctera will recalculate based on business days and automatically initiate the payment.
Synctera Spend Controls provide you with a way to control spend on account-level through creation of rules that monitor the flow of funds to or from the account. Spend controls can for example be used to prevent fraud / unauthorized spending on the account or to support budgeting and financial goals. For more details on how to manage spend controls through the Synctera Console, see this guide. For documentation on the Spend Control API, see the API Guide and API Reference.
The Statements API allows you to retrieve the transactional information and disclosures needed to generate printable account statements for your customers.