Synapse, a banking-as-a-service (BaaS) platform that increases access to best-in-class financial products, today announced the formation of a new Policy & Regulatory Advisory Board and the appointment of Daniel Gorfine, Founder and CEO of Gattaca Horizons and former Chief Innovation Officer of the U.S. Commodity Futures Trading Commission (CFTC), as Chair. Daniel is a highly valued advisor to innovative companies on fintech policy, regulation, and market developments, and while at the CFTC, he helped inform policy and regulation for the rapidly modernizing digital asset and fintech sectors.
“As regulators and lawmakers grapple with the unique challenges and opportunities surrounding innovation in the BaaS industry, our new advisory board will help us in our mission to continue delivering the best, safest, and most compliant platform and products,” said Sankaet Pathak, Co-Founder and CEO of Synapse. “We look forward to benefiting from the Advisory Board’s expertise as we continue to build an industry-leading platform informed by broader policy, regulatory, and compliance considerations.”
As Chair of the Advisory Board, Daniel will lead efforts to build out the Board, recruiting external affairs, policy, regulatory, financial services, and fintech experts, who will advise Synapse and help inform strategies to achieve Company objectives. The Board will also provide recommendations to guide Synapse’s executive leadership team on how to work effectively with regulators, banking partners, and customers to best promote and support rules and regulations that will guide the future of the industry.
“The fintech industry is transforming how we engage in financial services, and policy and regulation must keep pace in order to safeguard consumers, promote compliance, and facilitate responsible innovation,” Gorfine said. “I look forward to helping to establish Synapse’s Advisory Board and support the Company’s goal of leading the BaaS industry while empowering an industry of innovators who are making financial services and financial health more accessible, more fair, and more sustainable.”
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