Synctera and LoanPro Partner to Help Companies Launch Banking and Credit Products

Synctera and LoanPro have partnered to provide a platform that helps companies launch banking and credit card products and tailor the experience to their customers’ needs.

The collaboration brings together Synctera’s banking and payments platform and LoanPro’s lending and credit platform, Synctera Chief Product and Technology Officer Ellen Linardi wrote in a Wednesday (Sept. 3) blog post.

Integrating LoanPro’s scalable credit underwriting and loan servicing technology into the Synctera Platform creates a unified platform for companies that want to offer both deposit and credit products, according to the post.

The solution enables these companies to use a single set of application programming interfaces (APIs) to build banking and credit card products, unify end-user data for both kinds of products into a single ledger, manage all compliance and operational workflows from the Synctera Console, and provide their sponsor bank with complete visibility into the program life cycle, the post said.

The platform will soon be able to help companies offer credit card products with flexible spend controls, fees, per-category interest rates, rewards and a customized user experience, per the post.

“Financial innovation doesn’t stop at deposit and debit products,” Linardi wrote in the post. “With the launch of the Synctera Credit Card we are excited to continue powering even more of the future of finance with the infrastructure and tools build for modern FinTech and embedded finance products.”

LoanPro CEO and Co-Founder Rhett Roberts said in the post that his company’s credit infrastructure provides both flexibility and compliance.

“By partnering with Synctera, which brings deep regulatory expertise, we’re delivering a platform that allows FinTech, payments and banking companies to launch innovative credit products quickly, to suit their customers’ unique needs, while maintaining the highest standards of oversight and security,” Roberts said.

Synctera raised $15 million in new funding in March, saying the financing will help support the acceleration of its growth and its ability to meet the complex needs of its customers.

“This is a vote of confidence that enables us to continue to drive scalable growth and excellence for our customers and community of banks,” Synctera Co-Founder and CEO Peter Hazlehurst said at the time in a press release.