Embedded finance is the clear future in technology and Bond is committed to building the best enterprise-grade embedded finance platform in the market. We're so excited to tell you about what we’ve been working on recently!
Banking is the core of Bond’s platform and, from day one, we’ve committed to providing our customers with the best-in-class tools. This month, we’ve made a number of updates to Accounts:
We’ve released the next iteration of our Deposit Accounts, adding new functionality that will give you increased customization and flexibility — from a reimagined accounting engine to increased fraud controls and more.
Our proprietary accounting engine now offers double entry accounting for all sub-accounts, including end of month and end of day transaction clearing.
We’ve also added new functionality around our ledger. Now, you can activate and deactivate accounts through our new Accounts API, fund accounts through ACH deposits and withdrawals. Additionally, you can complete account to account transfers, making it easier to move money between different deposit accounts.
For more detailed reporting, we’ve made it even easier to pull statement data based on payment frequency with our new Accounts API.
ACH Transaction Monitoring & Updates to ACH Transactions
We made new enhancements to monitor money movement across our platform 24/7 and detect any transaction anomalies. Additionally, we now offer greater visibility into why transactions were declined.
With our robust monitoring and transaction status details, you can learn of any issues as soon as they happen and triage them before they reach your customer.
Improved Fraud Control & Repayments
This month, we’ve added the ability to process returns on inactive card accounts, giving you better control over and oversight into any potential fraud. Additionally, repayments can now be made on credit cards.
Credit Application Service
Card applications can be complex and cumbersome. We continue to add enhancements to our flexible and extensible service for completing and submitting credit card applications and issuing cards. Bond’s Credit Application Service (CAS) makes it easy to host an application form, collect the pertinent data, and submit the application to Bond for KYC, underwriting and card issuance.
We launched our revamped Bond Portal! If you’d like to learn more, please read our blog post: https://www.bond.tech/blog/introducing-bond-portal
Updates to KYC
Simplifying compliance for our customers is one of our core tenets here at Bond. To that end, we’ve made a number of updates to our KYC service this month. Our KYC document endpoint now includes type of document required and our KYC fields now accept and normalize a larger range of characters, including hyphens and apostrophes, allowing for faster KYC and ease of use.
We’ve also added the ability to add phone number, email address, and SSN when a customer is created, rather than only when KYC is initiated, making it easier to get the right information in at the right time.
And, to cap it off, we now screen known-fraudulent customers against a Deny List during KYC, reducing the burden on your teams.
Updates to API Logs
Developer experience is our number one priority at Bond. This month, we’ve added increased detail to the API logs with more granular endpoint URLs, full request, and response bodies.