Synapse Resources

April, May, and June Release Notes 2022

We have implemented many new features and enhancements in this three-month time period, and they are listed here.

Neobanks vs. Traditional Banks Guide

How neobanks are disrupting the banking industry through innovation.

Introducing the First Episode 1 of Under The Hood Season 2

In this newly released season, we will explore topics that range from design and architecture to regulatory and policy challenges.

Guest Podcast | Banking-as-a-Service & Regulation: A Conversation with Sankaet Pathak of Synapse & Shaul David of Railsr

Sankaet Pathak, CEO of Synapse, joined Jason Mikula this week on Fintech Business Weekly a podcast that features leaders in fintech, banking, and crypto. They were joined by Shaul David, Head of Banking at Railsr and they covered a wide range of topics relating to banking as a service and regulation.

We Made The List!

It’s with an overwhelming sense of pride that we announce that Synapse has made the Inc. 5000 list. With 3-year revenue growth of 487%, Synapse ranked No. 1339 among America’s fastest-growing private companies and No. 92 among financial services companies. 

Synapse Welcomes New Bank Partner, Lineage Bank, Expanding Our Multi-Bank Partnership Strategy

We’re delighted to share the news about this partnership which will increase access to best-in-class financial products for fintechs and their customers.

RFDI & ODFI Guide

How Originating and Receiving financial institutions play a critical role in ACH transactions.

Unlocking the Keys to Success in Modern Finance

Authority Magazine interviewed our CEO, Sankaet Pathak, recently about the five most important things one should know in order to succeed in the modern finance industry. 

PYMNTS.com Taps the Expertise of Synapse's Authentication Experience

PYMNTS.com wrote a feature article on Synapse and its user authentication experience and our behavioral analytics with quotes from our CEO, Sankaet Pathak. 

Banking APIs Guide

How banking APIs enable open banking by expanding access to financial products and service

Real-Time Payments

Open Banking Guide

Open banking gives consumers the power to share their financial data securely with other financial institutions.

Introducing Synapse Global Cash

We’re excited to share more news about our recently announced Global Cash product, including a new video and additional product details.

January, February, and March 2022 Release Notes

We added multiple features and enhancements in the months of January, February and March. See the full list here.

FT Partners Profiles Synapse in The Blockchain Economy Report

We are excited to share that Synapse was profiled by FT Partners for The Blockchain Economy report recently.

Guest Podcast: Why Flat Files Are Still Good

Explore the innovations behind the scenes in the fast paced podcast with our CEO, Sankaet Pathak.

Credit Builder Cards & Loans Guide

Find out how credit builder products work and how they can help consumers create or build better credit.

Revolving Loans Guide

Learn what revolving loans are, how they work, and why they’re popular with consumers.

Synapse’s CEO Sankaet Pathak Chosen to The Financial Technology Report’s Top 50 Award

FT Report has selected Synapse Financial Technology’s CEO Sankaet Pathak to their Top 50 Financial Technology CEOs of 2022.

Deposit Accounts Guide

Understand how deposit accounts work, how neobanks and challenger banks make money and how FDIC is covered.

Stablecoins Guide

Find answers to what stablecoins are, how they work, and why they're so popular.

Synapse is Partnering with TrueAccord for Debt Management

Interchange Revenue Guide

Learn how interchange fees work and why they are so important to fintech revenues.

Crypto Wallets Guide

Get answers to your crypto wallet questions including how they work, what types are available, and their value for fintechs.

December Release Notes

We added several unique enhancements in the month of December.

Virtual Cards Guide

Learn why virtual cards have become so popular, what they are and how they're used in modern transactions.

ACH Guide

Find answers to the history of ACH, how it works, and details about the types of transactions and how they work.

Banking as a Service Guide

Find out what Banking-as-a-Service means and learn about all of the related terms that influence fintechs.

Buy Now Pay Later Guide

Learn what Buy Now Pay Later is, why it's so popular and what the future holds.

Global Banking Guide

Find answers about the size and growth of Global Banking, and learn about adjacent sectors.

September, October, and November Release Notes

Decentralized Finance Guide

Learn about DeFi's history, how it works and where it fits in the crypto ecosystem.

New Synapse White Paper Compares Financial Services Platform Models for NeoBanks & Card Programs

David Meltzer Interviews Synapse CEO

Synapse’s CEO, Sankaet Pathak was interviewed by David Meltzer and Mike Diamond on the program Office Hours.

Synapse Featured on NASDAQ TradeTalks

Join our CEO, Sankaet Pathak as he speaks with @Jill Malandrino of @Nasdaq #TradeTalks.

July & August Release Notes

We added several substantial features to the platform in July and August.

Introducing Credit Hub

We recently announced our new platform, Credit Hub, and now I’m excited to share an overview and the product details with you in this blog post.

FT Partners Features Synapse Credit Hub In Their Latest Report

FT Partners interviewed Synapse for their Buy Now Pay Later Industry Report, July 2021.

May & June Release Notes

May and June were productive months for us at Synapse. We added quite a few new features. Here is the list:

Comparing ACH, Push-to-Card, and Real-Time Payments

Synapse Featured in FT Partners Open Banking Report

Recently Synapse was interviewed by FT Partners for their industry-leading Open Banking, Rearchitecting the Financial Landscape Report, March 2021.

April Release Notes

April was a productive month for us at Synapse. We added quite a few new features and made some big infrastructure improvements.

What is the Total Cost of Launching and Maintaining a Fintech? Part 1

Releasing the Handcuffs on Core Deposits: What the FDIC’s New Rule on Brokered Deposits Means for Fintech

Launching With Lending First, The Neolender Is A New Breed of NeoBank

Neolenders offer lending as their first product with other banking products and services integrated into the experience.

Positioning Synapse for Success as We Embark on a Year of Rapid Growth

As the first CFO, I am thrilled to be at the heart of this transformation.

How Virtual Cards Work For Business

A virtual credit or debit card can be used to pay for goods, services and subscriptions online.

How COVID-19 Has Increased Mobile Banking

Mobile banking has become more significant with the pandemic.

How ACH Payments can help your business

ACH empowers consumers and businesses to create an effective banking channel.

How to Build a Neobank

If you're looking to build and launch your own neobank, there are several paths you can take.

How Remote Deposit Capture Works

RDC is a method of processing payments without sending paper checks to the bank.

Welcome, Mike Rasic, Chief Financial Officer

Today we are excited to announce that Mike Rasic has joined Synapse as Chief Financial Officer (CFO).

How Banking-as-a-Service is Reimagining Banking

BaaS is empowering companies with the ability to offer banking services without needing to be a bank.

Introducing Instant Provisioning: Pay Anywhere with Mobile Wallets

Card Processing: Approve or Deny Every Transaction in Real-time

In this blog we will explain how it works and highlight how companies are using it to benefit their customers.

Introducing eCash: Deposit Cash with the Ease of a Barcode

Native Processor: Happy Anniversary!

Carla McMorris, Director of Content at Synapse

Today we are excited to announce that Carla McMorris is joining Synapse as our Director of Content.

ID Verification with Deep Learning

At Synapse, we employ modern artificial intelligence techniques based on computer vision and deep learning to automate physical documentation verification.

ID Score

This blog showcases a novel approach to identity verification and a semi-automated retraining pipeline

Account Aggregation — How It’s Affecting Your Accounts Today and How It’s Changing

Data Enrichment 2.0

All-In-One Banking Chatbot

So we’re excited to announce Chatbot — a powerful platform that is able to take over support for platforms/developers/customers.

99.99%

Customer Support on weekends and we are committing to 99.99% reliability on all non-beta products starting August.

ID Score: Building the Best KYC Layer

This year, our goal is to become the best KYC provider for developers building on top of Synapse, while not charging a dime for it.

Product Roadmap for 2019

We made our product roadmap public last year. To continue that tradition, we decided to do the same this year.

Remote Deposit Capture (RDC)

Today we are launching support for Remote Deposit Capture on our deposit accounts.

Lending

We are finally announcing our much-anticipated loan origination and servicing product.

We are finally announcing our Series A

Custodial Accounts

A new deposit product for escrow, payment and crowdfunding applications.

Multi-Bank Savings Accounts

Starting next week, all the savings accounts will also get $16M in FDIC coverage per user. We call this feature Multi-Bank.

Crypto Wallet 2.0

Earlier this year we launched a Bitcoin Wallet. We learned a ton from it, and today we are adding support for Ethereum and upgrading our wallet architecture.

Using Science to Improve Financial Well-Being

Over the past few months, our behavioral science team has been researching methods for improving financial well-being. Now, we are internally testing a savings app that is informed by cognitive and behavioral science.

Machine Learning and Transparency

This post provides a brief overview of some recent libraries and theories we feel are particularly promising for AI Ethics.

Bitcoin Wallet — Our First Crypto Wallet

UI For Card Processing

Improving Financial Access with AI

We are doing some interesting work in image reconstruction. This will help us broaden the scope of people who can have access to quality banking, regardless of camera quality of their cellphones.

Debit Card Issuance

Now companies can issue white labeled debit card for individuals and businesses with Synapse

Design Lab

Product Roadmap for 2018

Last year was really productive for us, and we plan to continue our product expansion this year

Client Manager

Today we are announcing our new client management platform!

Interchange Processing

Today we are announcing support for interchange processing, for both debit and credit transactions via credit or debit cards.

Ensuring a positive future for AI in Banking

We are looking for engineers with strong ethical code (pun intended)

Cognitive Behavioral Science and Banking

We believe we can use CBS to affect positive long-lasting changes to people’s financial behaviors and here is our plan

Interest-bearing and clearing accounts

We are adding interest bearing and clearing accounts in our deposit account products

Subnets: Virtual Account Numbers

We are launching our virtual account issuance product

In Defense of Checks

In this post we summarize our reasoning for choosing checks for our bill pay solution

Solving Bill Pay

Today we are announcing version 1 of our bill pay product.

Updates to Account Aggregation

ACH Updates

UIaaS: Bank Logins

We are releasing a new product, Bank Logins UI; a simple user interface built on top of our Bank Login API.

KYC post Equifax hack

We are making some updates to our KYC stack

Deposit Accounts

We are changing how we fundamentally approach deposit accounts

Insto: Instant Account Opening

Today I am very excited to announce Insto; our instant account opening tool.

SynapsePay is now SynapseFI

Today we are changing our name from SynapsePay to SynapseFI.

Video Auth

Video Auth is a simple and automated way to verify customer identity via a 5 second video recording.

New CORE

Today we are deploying an upgraded CORE infrastructure on our sandbox.

Security Blog: PHP

In this post we go over some of the best practices that should be followed while building out an application in PHP.

ID Verification Improvements

Today we are announcing new updates to our computer vision stack!

Security Blog: OWASP

In this post we go over some of the best practices that should be followed while building out an application.