Synapse CEO Sankaet Pathak recently appeared on the Wharton Fintech Podcast, where he shared his vision for revolutionizing the banking industry, and the remarkable journey he’s taken so far to get there. Here’s what you’ll uncover when you listen to the episode:
Passion and frustration as creative catalysts:
Sankaet's motivation to disrupt the banking industry stemmed from personal frustration at being unable to easily open a bank account. Inspired by a hackathon experience, he embarked on a mission to build Synapse, an embedded finance platform designed to be inclusive for all individuals, regardless of their financial status or background.
Overcoming challenges and growth:
Sankaet candidly reflects on his journey from being a skilled engineer to becoming a leader in the fintech industry. He shares stories of trial and error, acknowledging that building and managing companies involves a continuous learning process.
A unique approach to competition:
In an industry driven by competition, Synapse stands out for its customer-centric approach. Sankaet emphasizes that the company's primary focus is solving problems rather than merely owning marketshare. By constantly addressing customer needs, Synapse aims to make financial services easily accessible to individuals in the US and beyond, regardless of their circumstances.
Vision for embedded finance:
Sankaet shares his compelling vision for the future of embedded fintech, where incorporating financial services becomes as simple as a "drag and drop" process. The goal is to enable even non-specialist companies to seamlessly integrate financial services into their offerings, with minimal technical or regulatory barriers. While the industry is still in its early adoption stage, Sankaet's vision highlights the transformative potential of embedded finance.
This podcast episode featuring Sankaet offers valuable insights into how Synapse approaches the world of fintech. If you're eager to explore the challenges of embedded finance, the future of the fintech industry, and learn how Synapse is reshaping financial services, explore this podcast.