sync. Partners with ComplyAdvantage to Further Innovate Open Banking
- Open Banking
- 27.08.2020 01:42 pm
sync., a UK money management app innovating the Open Banking space and aiming to make money management beautiful, simple and accessible to everyone, has officially announced their partnership with ComplyAdvantage.
Growth across the FinTech sector has led to increased competition and innovation in financial services, resulting in a rise of disruptive companies like sync., leading the way in Open Banking.
sync. is an exciting new Open Banking service that combines a host of financial services into one beautifully designed app. The all-in-one hub allows customers to open a sync. account in minutes and link all their existing bank accounts and cards in a clear dashboard, giving consumers a much clearer picture of their finances.
Next-generation security features, including generating new CVC numbers via the app, a hidden magnetic strip on the card, and advanced in-app controls make sync. one of the most secure debit cards on the market.
sync.’s multi-currency functionality means cardholders can exchange currencies without incurring costly foreign exchange transaction fees every time they make a purchase and use their sync. X card all around the world.
To support their growth ambitions, sync. looked to partner with a trusted, innovative, AML solution provider offering rich technology to tackle financial crime with a real-time database. ComplyAdvantage’s solution is recognised by UK regulators, which has helped sync. through their journey to obtain regulatory licensing with robust programmes that protect their business and their clients.
The partnership provides sync. with a flawless monitoring system that allows them to be fully compliant with anti-money laundering and anti-fraud obligations. The front-end configurability of the ComplyAdvantage tool allows sync.'s compliance and risk management to perform more effectively.
“ComplyAdvantage’s vision is to take on and neutralize the risk of money laundering, terrorist financing, corruption and all other global financial crimes,” said Charles Delingpole, Founder & CEO of ComplyAdvantage. “We are always excited to partner with other innovative products and provide our scalable solutions to sync. as they expand.”
Ricky Lee, Founder of sync., said: “Security is incredibly important to us at sync., whether that is adding enhanced security options to our product, like our cards without printed CVC numbers, or ensuring we are completely AML and CTF compliant.
“We’re proud to have a partner that is as fast-moving as ComplyAdvantage. Their real-time updates and new innovative features mean that our AML and CTF monitoring is always the best it can be.”