Synapse Announces Partnership with American Bank Extending Modular Banking Strategy

Carla McMorris

Today, Synapse announced a partnership with American Bank, a community bank based in Le Mars, Iowa, to enable fintech companies to build and deliver innovative digital financial services to their customers.

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This partnership represents an extension of our modular banking strategy that includes Lineage Bank. Modular banking is an infrastructure that sources specialized services across multiple bank partners to deliver these services collectively as a complete offering to all its fintech and enterprise customers.

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American Bank will serve as a sponsor bank to Synapse and its affiliates, providing core banking services such as FDIC deposit insurance, payment processing, and card issuance.

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Sankaet Pathak, CEO of Synapse said, “American Bank’s support will enable us to deliver on our commitment to provide fintech companies and enterprises with best-in-class solutions at unmatched speed and at the best terms. American Bank shares our entrepreneurial spirit and unwavering dedication to customer service, and we look forward to collaborating with them on new ways to deliver value to our collective customers.”

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Micah Lang, President [and Trust Officer] of American Bank said, “As Banking-as-a-Service continues to become more commonplace, American Bank is committed to strengthening our digital banking capabilities to better position us for the long term and support our community now and well into the future. Synapse is best positioned as a partner to this goal.”

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To learn more about our modular banking strategy please read the blog post by Sankaet Pathak.

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Sources

The Launchpad for
Financial Innovation

help@synapsefi.com

* Synapse-Enabled Services services are offered through Synapse Financial Technologies, Inc. and its affiliates (collectively, “Synapse”). Synapse is not a bank and is not affiliated with any Platform Operator.

Brokerage accounts and cash management programs are provided through Synapse Brokerage LLC (“Synapse Brokerage”), an SEC-registered broker-dealer and member of FINRA and SIPC. Additional information about Synapse Brokerage can be found on FINRA’s BrokerCheck. See Synapse Terms of Service, Privacy Policy, and the applicable disclosures and agreements available in Synapse’s Disclosure Library for more information.
The Partner Financial Institution(s) participating in a Synapse cash management program can be found in the List of Program Banks.
Deposit, Banking and Card services are provided by Synapse Financial Technologies, Inc.’s partner banks.
Credit services are provided by Synapse Credit LLC, a licensed U.S. lender in designated states.
Use of the Synapse-Enabled Services are subject to the Terms of Service.

Use of our (Synapse Financial Technologies, Inc.) services are subject to our Terms of Service.

Synapse Announces Partnership with American Bank Extending Modular Banking Strategy

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Carla McMorris

October 20, 2022

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