The Fintech Times Em Conversa interviewed Sankaet Pathak about Latin America and US-based bank accounts

Carla McMorris

The Fintech Times Em Conversa interviewed Sankaet Pathak, co-founder, and CEO of Synapse about the market boom in Latin America and the reasons why organizations like Synapse are making US accounts more accessible to those located outside of the US. There are more than 1.7 billion underbanked adults worldwide, and a large portion of them reside in Latin America. Synapse is close to reaching one million accounts held by Brazilians.

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In addition to asking Sankaet about Synapse and his first-hand experience immigrating to the US from India, they discussed the trends that are driving fintechs in Latin America to launch solutions, namely:
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High inflation
Gamification of the economy
Freelancers and gig workers

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When asked what Synapse is doing to help enable fintech innovation in the region, Sankaet explained the breadth and depth of our Banking-as-a-Service (BaaS) platform, highlighting our Global Cash product and its benefits, including receiving payments in USD, making international purchases, investing in global markets and more.

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Sankaet was asked what unique challenges he encountered when launching US accounts for non-US residents, and he named extending transaction monitoring, identity scoring, and Know Your Customer (KYC) flows, because it was difficult to comply with both international markets and US regulatory requirements to make one global platform.
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Click here to read the full article.

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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.

The Fintech Times Em Conversa interviewed Sankaet Pathak about Latin America and US-based bank accounts

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Carla McMorris

November 17, 2022

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