Blog Posts

November 17, 2022

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

Carla McMorris
Director of Content

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. 

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:

  • High inflation
  • Gamification of the economy
  • Freelancers and gig workers 

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.

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. 

Click here to read the full article.

Sources

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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