(FinTech) Synapse has collapsed, 10M consumers, 100s of fintechs in trouble

Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by distances on Sunday May 26, 2024 @07:26AM (#40481324)

No, it differentiates actual banking services from a service sold for companies to build products upon, so likely a set of APIs. There needs to be different naming for these concepts, and BaaS is a good and descriptive name for it.

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Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by namaria on Sunday May 26, 2024 @07:39AM (#40481388)

What's wrong with calling baking software "baking software"?

The "as-a-service" everything tag is become marketing hype. It is not meaningful analysis.

But at this point we can just agree to disagree. I think adding 'as-a-service' to everything and trying to 'disrupt' everything makes us look bad. You may think it looks good. Matter of opinion.

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Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by distances on Sunday May 26, 2024 @07:54AM (#40481463)

For me "banking software" would imply end user software you use for banking, either as a consumer or as a company. Not something to build upon.

> Matter of opinion.

Indeed, there's going to be different views on these things so let's leave it there.

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Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by croes on Sunday May 26, 2024 @02:40PM (#40484375)

Banks are regulated and have protection systems for their customers.

BaaS provider aren't regulated in the same way.

So it's good if they have a different for a service from a different entity.

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Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by downvotetruth on Monday May 27, 2024 @07:30AM (#40489793)

BaaS is terribly ambiguous; "reseller" & "aggregator" are already used and well known in other industries. VCs with more money than brains just getting schooled trying to be hip.

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