What makes sync. different to its FinTech competitors.
The future of
Open Banking
in one app.
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Discover what top Challenger Banks and other Banks have to offer in the FinTech market and why sync. is unique in their offering.
The different features we offer, and the way they’ve been designed to interact with each other, has allowed us to create the all-in-one financial app.
WHAT DOES SYNC. DO? - OVERVIEW
Which Bank or financial institution you choose to store your money in is one of the most important decisions you will make. It’s about finding the balance of who do you trust enough that your money is safe, but who offers you the features that make it easy to manage and understand your money.
When we started building sync. we wanted to offer a wide-range of features that could cater for your every needs. We wanted to offer a product that could be used for your everyday spending needs; a product that could be used if you moved abroad or went on holiday; and a product that understood we wouldn’t be the only product you used. Above all else we wanted a product that focussed on security to give you the trust and comfort you need.
Combining all those requirements into one easy-to-use product was never going to be simple. Just listing them out can be overwhelming. Luckily we have an amazing team that puts user experience at the very centre of everything we build. We’ve summarised each of the key features below to give you more of an idea of what sync. will look and feel like.
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EVERYDAY CURRENT ACCOUNT
With the advancements in technology that we’ve had over the previous years there is no longer any need for it to be a tiring and frustrating process to open a current account. That is why we’ve made it more accessible by offering the ability to open a current account in minutes. Given that we are still one large European Community, regardless of Brexit or not, you can open either a GBP or EUR current account (or even both if you want).
From this account you can pay bills, send money to friends and family locally or to banks across the world, and make payments using your sync. Debit Mastercard.
MULTI-CURRENCY ACCOUNTS
For those of you who want or need to hold money in multiple currencies, we offer the ability to manage up to 31 different currencies with IBANs. This allows you not only to send foreign currencies to sync. without having to incur expensive FX fees from your traditional bank, but also allows you to instantly exchange currency at the best market rates.
If you’re moving abroad temporarily, going on that summer holiday or even doing a round the world tour, all your FX needs are covered with sync.
SYNCHRONISING FINANCIAL ACCOUNTS
We are leveraging Open Banking to allow you to connect and manage all of your different financial accounts within the sync. app. This will allow us to tell you how much money you have across all your accounts, and we’ll update it after every transaction. You’ll also be able to see a history of transactions from each connected account and, for some providers, even make payments from their accounts using the sync. app.
In essence, sync. becomes your all-in-one financial app where you can manage all of your accounts in one place, in one app, as one experience. To take things further we want to help you understand your spending through analysis of your spending habits. This will allow us to provide you with a tailored and personalised experience that will look to help you and your family better manage your spending.
THE SYNC CARD
At least for the next few years people will still need a physical card to make payments. However with the increasing popularity of contactless payment methods on smartphones we’ve looked to innovate with our sync. card whilst it’s still demanded.
We’ve innovated with the design with our close partner in Mastercard, and we’ve innovated with it’s in-built technology. You’ll notice that we don’t print the CVC on the back of the card; we’ve got an invisible magnetic stripe; and when we have a unique card settlement feature that allows you to pay in foreign currencies.
SECURITY FEATURES
Above all else your security is the most important thing to us and we’ve designed and built many features to offer you the highest level of protections. For example by not printing the CVC on the back of your card and allowing you to generate a new one within the sync. app whenever you want, we can drastically reduce the risk of online fraud. We also offer you full control over how your card can be used by allowing you to turn off ATM withdrawals, contactless payment, online payments, swipe payments and international payments that also helps to reduce the risk of card fraud.
Additionally, as part of our multi-layered security system, you will be instantly notified of all payments to allow you to notify us of any suspected fraud at the earliest opportunity. We have also built numerous other security protocols, but we won’t share them all here just in case there’s someone reading that shouldn’t be!
SUMMARY
Since we started sync. in 2019 we’ve always had a focus on creating a product that you, our customers, can trust, but one that is also easy to use and caters for your every need. The different features we offer, and the way they’ve been designed to interact with each other has allowed us to create the all-in-one financial app.
We are leveraging Open Banking to allow you to connect and manage all of your different financial accounts within the sync. app. This will allow us to tell you how much money you have across all your accounts, and we’ll update it after every transaction. You’ll also be able to see a history of transactions from each connected account and, for some providers, even make payments from their accounts using the sync. app.
In essence, sync. becomes your all-in-one financial app where you can manage all of your accounts in one place, in one app, as one experience. To take things further we want to help you understand your spending through analysis of your spending habits. This will allow us to provide you with a tailored and personalised experience that will look to help you and your family better manage your spending.
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