Welcome to the July issue of Synapse Signal, a quick-read newsletter designed to catch you up on the latest news about Synapse and embedded finance.
The Disconnects between Fintechs and Banks
The world of finance is changing significantly, with everyone rushing to keep up in these uncertain times.
Synapse understands the vital relationship between fintechs and banks, as evidenced by the success of our Modular Banking program. Recently, we shared a blog post detailing how incentive structures between fintechs and banks can become misaligned.
The blog details well-known go-live disqualifiers, including:
- “We will serve a demographic that other banks or fintechs won’t.”
- “We will offer a more comprehensive solution.”
- “We will attract customers by offering cheaper services/faster payments/better rebates.”
It offers insights and recommendations for developing a customer acquisition strategy that a bank partner can support.