Thought Leadership

November 18, 2021

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

Carla McMorris

A wide breadth of companies are integrating financial services at an accelerated pace. 

No longer the sole domain of neobanks, B2B2C and B2B companies are integrating services that cross the spectrum of deposit products, from banking and card programs to loans and payments. 

Companies who partner with the right banking-as-a-services platform gain speed, leverage, and security as they optimize their potential. Understanding the differences between today’s dominant models is often the challenge for companies who are trying to determine the straightest path to success.

This new white paper from Synapse “Evaluating the Best Partner Model for a Neobank and Card Program” reviews three dominant models available to fintech and non-fintech companies: 

  • Fragmented DIY
    This model requires that you find a sponsor bank, along with a processor/program manager, card network, card printer, and other resources.

  • Open Banking
    The model leverages bank-owned API endpoints that extend a bank’s core banking capabilities through managed APIs. 

  • Vertically Integrated Platform
    The Vertically Integrated platform includes partnerships with multiple sponsor banks, a full technology stack, and all services baked into the offering. 

Using detailed charts, the paper compares and contrasts the technology, banking services, and compliance support based on success measures like speed-to-market, card revenue and costs, and customization and flexibility. The paper concludes with a comparison of each models’ ability to support program iteration to ensure the best experience as your business grows.

Click here to download Evaluating the Best Partner Model for a Neobank and Card Program white paper.

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

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Carla McMorris
November 18, 2021

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