April was a productive month for us at Synapse. We added quite a few new features and made some big infrastructure improvements.
Here are some of the new features we launched in April:
🚢 Idempotency Key Support for Batch Transactions
We have been supporting Idempotent calls on POST requests for users, nodes, transactions, and subnets for a while. But due to popular demand, we now support Idempotency keys for our batch transaction endpoint.
To learn more, go to Create Batch Transactions.
🚢 TXP Support for ACH-US
TXP ACH is a popular way of paying state and federal tax payments in the US. We are now also adding support for TXP payments. Creating TXP payments is as easy as adding additional payment details under txp_meta while Creating an ACH Transaction.
To learn more, go to TXP Meta Fields.
🚢 New Node type to enable Secured Lending
We now support secured lending on Credit Hub. To enable that, we are adding support for LOAN-RESERVE-US node type that is capable of holding loan reserves on the user’s behalf. After a loan reserve is created and funded, you can supply link the reserve (under reserve_node_id) to create a secured loan.
To learn more, go to Node Object Details and Create Credit Account.
🚢 Loan Limits endpoint
Along with Secured Lending, we are also adding an endpoint that keeps you up to date on all state-by-state features for loans.
To learn more, go to Loan Limits.
🚢 More States Available for Lending
We are now also adding support for lending in New Mexico (NM), Colorado (CO), and New Jersey (NJ) as well. Details for each state have been added under Loan Limits.
We have been making some enhancements to our infrastructure, here are two big updates we pushed in April:
🏗️ Async Processes Rearchitecture
We released a new async processing infrastructure which achieves atomicity and graceful retrying to reduce failures and increase higher reliability for all asynchronous operations.
🏗️ Interest Accrual Enhancements
We’ve made improvements to our daily interest and reward accrual systems to add atomicity and retry logic to individual accruals to improve the reliability of this feature.
Along with the above updates, we also want to remind you of the following:
⏰ Auto-Close for users in EDD Flow
Starting Monday, May 24, 2021, we will enable honoring account_closure_date on user objects. As a reminder, when a user needs to go through the EDD (Enhanced Due Diligence) workflow, we request additional documentation and set an account_closure_date. If an end-user fails to provide adequate documentation by that date, the account will be closed automatically.
To learn more, go to Enhanced Due Diligence Process.
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