SAN FRANCISCO, CA (August 4, 2021)—Synctera, a new solution for partnership banking at scale, today announced the signing on of Marqeta and Mastercard as FinTech partners, launched its Card API, and added Regent Bank as a new banking partner.
Synctera’s Cards-as-a-Service offering, launching this fall, will complement its existing FinTech as a Service capabilities and allow FinTechs to easily launch and manage consumer and business debit card programs. Through its partnerships with Marqeta and Mastercard, Synctera will provide advanced capabilities for card creation, processing, and management, and will make it easier and faster than ever for FinTechs to create new card programs and for community banks to get into the card issuing game. Synctera’s Cards API is available for developer access today.
“We are ecstatic to announce our partnerships with Marqeta, and Mastercard, our Card API, and our new banking partner Regent Bank. With card issuing on our platform, we are making it easier than ever for FinTech developers to build innovative financial capabilities into their products while creating new revenue opportunities for even more community banks,” said Peter Hazlehurst, co-founder, and CEO of Synctera. “These strategic partnerships will not only enhance our FinTech as a service offering but will help us bring down barriers to participation in the FinTech ecosystem to banks and FinTechs alike. This means more flexibility, faster time to market, and a more vibrant market of financial services for end consumers and businesses.”
Advancing our platform with new capabilities and partnerships
Here are some highlights from Synctera’s recent partnerships and product updates:
- Account Management and Efficiency: Through its partnership with Marqeta, the leading provider of card issuing and processing services, Synctera enables FinTechs to easily and efficiently create new card programs.
- Faster Onboarding and Card Program Launches: Synctera has selected Mastercard, the global leader in payments technology, as its network partner to improve bank and FinTech onboarding and support, thereby reducing time to market and accelerating time to revenue for banks and FinTechs alike. Synctera will also tap Mastercard’s Digital First Card Program to enable a best-in-class digital banking experience for consumers.
- Issuance and Management of Debit Cards: With the publication of Synctera’s Cards API, FinTech developers can now begin building card capabilities into their products via the Synctera platform
“We are thrilled to be partnering with Synctera to bring Marqeta’s modern card issuing and processing capabilities to even more FinTechs, and to significantly expand the number of community banks that can access best-in-class issuing technology.” said Darren Mowry, Chief Revenue Officer at Marqeta “We’re excited about the new innovation and companies that this collaboration can enable.”
“Synctera’s vision to connect community banks and FinTechs addresses a critical industry need in a meaningful and innovative way,” said Sherri Haymond, Executive Vice President Digital Partnerships at Mastercard. “Pairing Mastercard’s leading technology and connectivity with Synctera allows for greater collaboration to benefit the FinTech ecosystem, while also supporting entrepreneurs and developers by reducing the barriers to creating innovative card programs.”
Adding to our List of Banking Partners
In addition to the partnerships with Marqeta and Mastercard, Synctera has signed on a new community bank to the platform: Regent Bank, adding to Synctera’s previously announced partnerships with Coastal Community Bank and Lineage Financial Network.
Regent Bank is a locally owned community bank in Oklahoma with deep roots spanning several generations which support local and mid-market businesses by deploying the latest banking technology to supply its customers with the most timely and highest-quality service.
“Partnering with Synctera is a natural next step as we continue to grow and service our customers in key industries like FinTech” said Steve Baker, Chief Operating Officer at Regent Bank. “As Synctera continues to build out its offerings and further solidify itself in the industry, Regent Bank will be at the forefront of banking innovation and continue to provide exemplary service and products to our customers.”
This announcement and new offering come on the heels of Synctera’s recent $33M Series A funding round led by Fin VC, further cementing the company as a leader in the Banking-as-a-Service and embedded finance space. With the addition of Card-as-a-Service, Synctera is one step closer to meeting its goal of partnering with 15 community banks and 25 FinTechs by the end of 2021.
Community partner banks and FinTechs are encouraged to reach out via Synctera’s website to learn more about how to best work together. For more information, please visit www.synctera.com.
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Synctera is building a partnership banking marketplace connecting community banks with FinTech platforms. The platform reduces risk, ensures compliance and speeds launches to market for FinTechs and banks alike, Synctera creates meaningful connections between community banks seeking more customers and FinTech platforms that need a licensed partner to operate in the US. Launched in 2020, the company was co-founded by CEO Peter Hazlehurst, former head of Uber Money, head of Google Wallet and CPO at Yodlee, as well as CTO, Kris Hansen and Head of Product, Dominik Weisserth. For more information, please visit www.synctera.com.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all, www.mastercard.com
About Marqeta (NASDAQ: MQ)
Marqeta’s modern card issuing platform empowers its customers to create customized and innovative payment cards. Marqeta’s platform, powered by open APIs, gives its customers the ability to build more configurable and flexible payment experiences, accelerating product development and democratizing access to card issuing technology. Its modern architecture provides instant access to highly scalable, cloud-based payment infrastructure that enables customers to launch and manage their own card programs, issue cards and authorize and settle transactions. Marqeta is headquartered in Oakland, California and is enabled in 36 countries globally. For more information, visit www.marqeta.com, Twitter and LinkedIn.
About Regent Bank
Regent Bank is a regional business bank serving Oklahoma and Missouri through a unique combination of premier technology and high touch service. Over the last 12 years, the bank has grown from rural Nowata, OK to Tulsa, OKC, Springfield, MO and now Bartlesville; growing from $72 million in assets to $1 billion, making it one of America’s fastest-growing banks. Regent Bank has won many awards including Inc Magazine’s Best Places to Work and the ICBA Central United States Community Banker of the Year. For more information about this dynamic financial institution, please visit www.regent.bank.