Credit Hub
So it doesn't matter if your customers are underbanked and recently immigrated, high net-worth investors, or small/medium/large business owners. With Credit Hub, you can onboard customers from all walks of life.
Issue one time loans to your customers to enable online or in-person shopping. Either disburse the loan via a card issued by you or in an external account via ACH or Push to Card.
Enable customers to enjoy flexible credit limits based on the cash at hand, spend on a credit BIN for cash back rewards or to build credit.
Issue one-time or revolving loans to enable your customers to build credit.
Issue secured or unsecured revolving loan and a card to unlock a traditional credit card experience for your customers.
Credit Hub Account Types
Open Credit Account
Open Credit Accounts have flexible credit limits which are tied to the funds the user is holding in their deposit account. This account type is ideal for building a neo banking platform on a credit BIN for higher interchange or for charge cards.
Revolving Credit Account
The Revolving Credit Account limit is determined at the time of creating the credit account and is backed by funds in the user’s reserve account for secured credit cards, or not, in case of unsecured credit cards.
One-Time Credit Account
This Credit account is meant for one-time use only. Ideal for POS financing or cash advance products.
Payroll Cash Advance Account
This account is meant for payroll-based cash advances. Ideal for overdraft protection type products built on top of Deposit Hub or external bank accounts.
Benefits
Speed to Market
With Synapse, you get a modern Core and Risk platform all packed in easy-to-use APIs, enabling you to go to market in 6-8 weeks.
Feature Rich
Synapse provides a rich stack that enables you to provide a full stack of payment instruments (ACH, Checks, Wires, Bill Pay, Card Processing), an easy-to-use KYC Suite, Built-in multiple bank partnerships, and much more.
Easy to Use
Our public RESTful APIs and SDKs make it easy for you to deploy customized financial products in minutes, not weeks, or months.
White-Labeled
Use our APIs and SDKs to access all of the features and capabilities so your brand is highly differentiated.
Bank Portable
We have multiple bank partnerships built into the platform so you’re never reliant on just one bank partner as you scale.
Revenue Driver
Drive revenue via APR and/or card usage (interchange) from day one of going live.
All-in-One Customizable Solution
Use our built-in KYC and Customer Support features, or bring your own. We’ve built a platform that allows you to get to market quickly with a wide breadth of functionality. You choose what you want to own and what you want us to do for you.
Key Features of Credit Hub
ACH
Process same day or next day ACH transactions in and out of accounts for disbursement or repayment.
Learn More
Card Processing
Instantly repay account balances with any debit, prepaid, or credit card and/or instantly cash out into any debit or prepaid card for faster cash access.
Learn More
Card Issuance
Instantly issue card numbers on top of credit accounts, then load them into any mobile wallet of choice and/or ship a physical card with various shipping and card styling options, including metal.
Learn More
Cash Access
Enable your customers to deposit or access cash in their deposit accounts via ATMs and popular convenience stores like 7-Eleven and Walgreens.
Bill Pay
Enable your customers to pay bills to thousands of vendors through our RPPS Integration.
Remote Deposit Capture
Deposit third-party checks into credit accounts via our Remote Deposit Check feature for repayment.
Learn More
Daily Interest Accrual for End-Users
We manage all interest accrual for you and all the accrued interest is dispersed as a rebate every month.
Credit Building
Enable your individual or business customers to build credit.
Auto-Pay
Enable auto-pay for ease of repayment without the need to manage payment installments.
Flexible Security Options
Secure loans via customer deposits or your balance sheet or via a debt facility through our partners or your own debt providers.
Webhooks
Use our Webhooks infrastructure to stay up-to-date with any updates that happen to your user accounts.
Go live in 4-8 weeks
How it Works
Creating a Credit Hub is as simple as following these two steps:
POST /v3.1/users HTTP/1.1
Host: https://uat-api.synapsefi.com
X-SP-GATEWAY: client_id_xxx|client_secret_xxx
X-SP-USER-IP: ip_address
X-SP-USER: |fp_xxx
Content-Type: application/json
{
"documents":[{
"email":"test@test.com",
"virtual_docs":[{
"document_type":"TIN",
}],
"physical_docs":[{
"document_type": "GOVT_ID",
}],
"social_docs":[{
"document_type": "MAILING_ADDRESS",
}]
}]
}
curl --location --request POST 'https://uat-api.synapsefi.com/v3.1/users' \
--header 'X-SP-GATEWAY: client_id_2bb1e412edd311e6bd04e285d6015267|client_secret_6zZVr8biuqGkyo9IxMO5jY2QlSp0nmD4EBAgKcJW' \
--header 'X-SP-USER-IP: 255.127.79.76' \
--header 'X-SP-USER: |e83cf6ddcf778e37bfe3d48fc78a6502062fc' \
--header 'Content-Type: application/json' \
--data-raw ' {
"logins": [
{
"email": "test@synapsepay.com",
"password":"TestTest123$"
}
],
"phone_numbers": [
"901.111.1111"
],
"legal_names": [
"Test User"
],
"documents":[{
"email":"test@test.com",
"phone_number":"901.111.1111",
"ip":"::1",
"name":"Test User",
"alias":"Test",
"entity_type":"M",
"entity_scope":"Arts & Entertainment",
"day":2,
"month":5,
"year":1989,
"address_street":"1 Market St.",
"address_city":"SF",
"address_subdivision":"CA",
"address_postal_code":"94105",
"address_country_code":"US",
"virtual_docs":[{
"document_value":"2222",
"document_type":"TIN",
"meta":{
"country_code":"US"
}
}],
"physical_docs":[{
"document_value": "data:image/gif;base64,SUQs==",
"document_type": "GOVT_ID",
"meta":{
"country_code":"US",
"state_code":"CA"
}
},
{
"document_value": "data:image/gif;base64,SUQs==",
"document_type": "GOVT_ID_BACK",
"meta":{
"country_code":"US",
"state_code":"CA"
}
}],
"social_docs":[{
"document_value": "101 2nd St. STE 1500 SF CA US 94105",
"document_type": "MAILING_ADDRESS",
"meta":{
"address_street":"101 2nd St STE 1500",
"address_city":"SF",
"address_subdivision":"CA",
"address_postal_code":"94105",
"address_country_code":"US",
"address_care_of":"Some User"
}
}]
}],
"extra": {
"supp_id": "122eddfgbeafrfvbbb",
"cip_tag":1,
"is_business": false
}
}'
POST /v3.1/users/user_id/nodes HTTP/1.1
Host: uat-api.synapsefi.com
X-SP-USER-IP: ip_address
X-SP-USER: oauth_xxx|fp_xxx
Content-Type: application/json
{
"type": "LOAN-US",
"info": {
"loan_type": "OPEN",
"nickname": "My Loan",
"interest": {
"apr": 10,
"cap": 5
},
"document_id": "user_doc_id",
"reserve_node_id": "node_id",
"schedule":"MONTHLY"
}
}
curl --location --request POST 'https://uat-api.synapsefi.com/v3.1/users/5fd7acfd8677040053ad486d/nodes' \
--header 'X-SP-USER-IP: 255.127.79.76' \
--header 'X-SP-USER: oauth_WFecuSPqxGgU027IRAjtOf35vrNCpQZE1DYohX9y|e83cf6ddcf778e37bfe3d48fc78a6502062fc' \
--header 'Content-Type: application/json' \
--data-raw '{
"type": "REPAY-US",
"info": {
"loan_type": "ONE-TIME",
"nickname": "My Loan",
"credit_limit": {
"amount": 5.2,
"currency": "USD"
},
"interest": {
"apr": 10,
"cap": 5
},
"payment_node_id": "5fd7e2b0039b95223d5f4fd3",
"disbursement_node_id": "5fd7e2b0039b95223d5f4fd3",
"auto_pay": true,
"document_id": "2a4a5957a3a62aaac1a0dd0edcae96ea2cdee688ec6337b20745eed8869e3ac8",
"schedule": "MONTHLY",
"next_payment": 30,
"num_payments": 1,
"reserve_node_id": "5fd901bb20b3aa0bc7caee85"
},
"extra": {
"supp_id": "xx123c"
}
}'
After that, you can choose to link ACH, Wire, Interchange and many more account types to disburse funds or collect repayments and/or issue cards for a more holistic credit card or charge card experience.
Credit Pricing & Commercial Terms
Competitive on total cost of ownership.
Comprehensive with built-in core banking, payment rails and risk/compliance infrastructure. Pricing represents all you need to launch fully featured credit products.
Pricing is customizable to meet your needs.
Components may include:
To learn more, please contact Sales.
