May Release Notes 2023

We’ve added several new enhancements to this release.

📈 Enhancements

🚢 Negative Balance Statements for Credit Nodes

Why:

To address a previous issue, we’ve made updates to the statements related to our Credit/Loan products. Previously, when funds were transferred from the Platform’s Reserve to the Loan, the balance of the Loan would become $0. This led to a misleading impression for consumers, as they might assume their Loan was in good standing without closely examining the statement transactions. Consequently, they might overlook the payment due on their Loan.

What:

Moving forward, we have implemented changes to ensure a more accurate representation of Loan balances on consumer statements. Funds transferred from the Platform Reserve to the Loan will no longer be displayed on the consumer statement or included in the outstanding balance. This update allows consumers to readily identify when their loan is past due, enabling them to take prompt action and make the necessary payment to restore the Loan to good standing.

These enhancements improve the transparency and clarity of our Credit/Loan products, empowering consumers to manage their loan obligations effectively. For more information, see Credit Hub. We are committed to providing a seamless and user-friendly experience within our Embedded Finance platform.

🚢 Quick View Modal

Why:

Navigating transactions, nodes, and users pages can be difficult, especially while trying to keep track of multiple pieces of important information. This is why we have made it possible for the information to persist while you navigate through the dashboard.

What:

Synapse has now added quick view modals throughout our v3 dashboard. These modals will allow you to access detailed information within transactions, nodes, and users without needing to navigate to that page. To get started, simply press the ‘Alt’ key and click on any transaction, node, or user to access the quick view modal. These windows can then be dragged around, resized, and minimized, eliminating the need for multiple browser tabs.

🚢 Minor Dashboard Enhancements

We’ve implemented a few new enhancements in the dashboard to improve the user experience. These new enhancements include:

• Updated the create transaction modal to specify when no options are available.
• Updated the statements tab to display a numbered list of all available statements.
• Updated the navigation bar to display titles for visually impaired users.
• Expanded the number of dashboard pages with accessible page titles.

🚢 Graceful Handling of Stale Transactions

Why:

In our continuous efforts to enhance our Embedded Finance platform, we have identified certain conditions where transactions can remain in an indefinite state of “CREATED”.

What:

We have implemented improvements to gracefully handle these stale transactions by automatically transitioning them to a “CANCELED” state. To clarify the cancellation reason, we will include a note key value under Extra Schema, clearly indicating that the transaction was canceled due to exceeding 21 days beyond the process_on date/time.

Please note that if you have subscribed to a webhook associated with transaction status, our system will automatically update the status change via the webhook.

Affected Transaction Node Types:

Handling of stale transactions applies to transactions between the following node types:

• from.type: DEPOSIT_TYPE -> to.type: DEPOSIT_TYPE
• from.type: INTERCHANGE-US -> to.type: DEPOSIT_TYPE
• from.type: DEPOSIT_TYPE -> to.type: INTERCHANGE-US

The DEPOSIT_TYPE_NODES encompass the following nodes:

• SYNAPSE-US
• CUSTODY-US
• DEPOSIT-US
• IC-DEPOSIT-US
• IB-DEPOSIT-US
• RESERVE-US
• CLEARING-US
• SUBACCOUNT-US
• IB-SUBACCOUNT-US
• CMA

These enhancements ensure smoother transaction processing and better management of stale transactions within our Embedded Finance platform. We strive to continuously improve the user experience and appreciate your feedback and support.

If you have any further questions or concerns, please don’t hesitate to reach out to our support team.

🛠️ Bug Fixes

• We fixed a bug with the UAT Sandbox where new users trying to sign up were incorrectly redirected to the sign-in page.
• We fixed a bug when editing a login in client permissions. A password field was unnecessary.