Credit Hub is a platform that allows you to create various types of credit products for individuals or businesses in weeks, with the ease of API calls, with Synapse as your built-in lender of record.
Open Loans have a flexible credit limit, where the credit limit can be dynamically set by a collateral account. For consumers without a credit history, this represents an effective means to build credit. It also enables you to create loan products that have very low barriers to entry, meaning low value loans at zero risk.
Revolving Loans have a fixed credit limit which is locked at any given point in time. With this loan type, you can build secured credit products, for example tied to a collateral account, or unsecured credit products not tied to a collateral account. A common use-case for Revolving Loans is issuing credit cards.
One-Time Loans are single disbursement loan products where funds are paid back in equal installments over time. A common use-case for One-Time Loans are Buy-Now-Pay-Later plans.
Cash Advances are a one-time disbursement product with repayment often tied to a payroll disbursement, typically within a month’s time. Cash Advances can be a fast and convenient alternative to loans due to their simplicity and limited regulatory burden.
Creating a Credit Hub is as simple as following these two steps:
POST /v3.1/users HTTP/1.1
POST /v3.1/users/user_id/nodes HTTP/1.1
"nickname": "My Loan",
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 a secured or unsecured Revolving Loan and a card to unlock a traditional credit card experience for your customers.
Instantly issue card numbers on top of deposit or 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
Deposit third-party checks into deposit or credit accounts via our Remote Deposit Check feature for repayment.Learn More
Issue checks backed by deposit or credit accounts for traditional bill payments.Learn More
Instantly fund accounts with any debit, prepaid or credit card. Instantly disburse funds to any debit or prepaid card-backed account for faster access to cash.Learn More
Enable your customers to deposit or access cash in their deposit accounts via ATMs and popular convenience stores like 7-Eleven and Walgreens.Learn More
Enable your customers to pay bills to thousands of vendors through our RPPS Integration.Learn More
We manage all interest accrual for you and all the accrued interest is dispersed as a rebate every month.Learn More
Enable your individual or business customers to build credit.Learn More
Enable auto-pay for ease of repayment without the need to manage payment installments.Learn More
Collateralize loans via customer deposits, your balance sheet or via a debt facility through our partners, or your own debt providers.Learn More
Use our Webhooks infrastructure to stay up-to-date on your user accounts.Learn More
Issue unique account numbers on top of deposit accounts to enable ACH and Wire transactions in and out of accounts for other platforms like Venmo, Lyft, PayPal, etc.Learn More
Leverage multiple banks either to maximize interest or increase FDIC coverage for your customers.Learn More
Synapse is already powering over $50 billion in transactions annually. Get started with tailored solutions, custom pricing, and dedicated support for your team.
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 us.
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