sync. launches new smart money app in competition with major competing banks across Europe
LONDON , Aug 25 , 2020 / PRNewswire / – sync. aims to become the first digital intelligent open banking app offering its user-friendly financial services across Europe and promising to manage all aspects of a user’s financial life from a single place.
sync. was launched across Europe with an innovative money app that uses Open Banking and the eye-catching “sync. X card “, which is served by Mastercard, was introduced.
sync. arose out of frustration with traditional banks and the niche offerings of new competing banks, which however also do not meet all the needs of the end customer.
The app aims to differentiate itself from large competing banks by not specializing in any area such as money management, travel money / currency exchange or payments. Instead, it is a full service that supports users with all of their financial needs.
The ultimate goal of sync. is to help clients set up budgets, manage and track their money from a single place, delivering a unique user experience as a money management platform with bespoke insights.
Although sync. advises users to keep their existing accounts with traditional banks, the sync.App offers them a way to manage all their financial affairs in a single app.
It does this through the use of open banking solutions that allow users to sync all of their debit and credit accounts, loans and mortgages with their own “sync. X card “, which is served by Mastercard.
The app’s functions include creating and holding money in a current account in GBP and / or EUR, opening accounts in more than 30 currencies with instant currency exchange, money transfers, debit card payments and worldwide instant digital payments (peer-to-peer and QR -Code).
Security is an important focus for the start-up company. In addition to the physical “sync. X card “also offers single-use online cards. – The security code (CVC number) is not printed on the physical card and can be changed as often as required via the app, which gives users an additional level of protection if their data is stolen .
Ricky Lee , CEO and Founder of sync., Said: “We are excited to open our app to users across Europe for testing. We develop sync. for 18 months and are now ready to expand and compete with the big banks. ”
sync. also recently announced that it has completed a £ 5.5 million financing round.
Lisa Preece, PR Manager