The CEO and Founder of Synapse talks about banking infrastructure and how his company is looking to provide the next generation of API-driven banking software
I don’t think anyone would argue that back office banking infrastructure needs to change. Fintech companies and even banks these days want to work with companies that can provide a customizable, API-driven system that allows them to add new functionality quickly and easily. There are a number of emerging companies that are working on providing just that.
Our next guest on the Lend Academy Podcast is Sankaet Pathak. He is the CEO and founder of Synapse. They are a new kind of banking platform that helps fintech companies and banks create new products in this modular way. Sankaet has no banking background so it is really interesting to talk about how he has been able to build his company.
In this podcast you will learn:
The founding story of Synapse.
How Sankaet’s mindset has changed since he started Synapse.
The advantages and disadvantages of building Synapse without a banking background.
The product offering they started with and how their product set has evolved over time.
The types of financial institutions they are on-boarding including some examples.
How their new debt financing product will work.
How they will be able to provide their own warehouse line to their customers.
Who will be providing the capital for these warehouse lines.
Where embedded finance (or banking as a service) is going.
Sankaet’s view on international expansion for Synapse.
How he was able to raise money from big name VCs as a first time entrepreneur.
How their proposed seed investing program will likely work.
What else is on their product road map this year.
This episode of the Lend Academy Podcast is sponsored by LendIt Fintech USA 2020, the world’s largest fintech event dedicated to lending and digital banking.
All Deposit and Card services are provided by Synapse's partner banks, Members FDIC. All Credit services are provided by Synapse Credit LLC, a US State Lender. All Crypto services are provided by Wyre Payments, Inc., a US Money Service Business.