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A comment on (FinTech) Synapse has collapsed, 10M consumers, 100s of fintechs in trouble. Parent comment

Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by croes on Sunday May 26, 2024 @02:38PM (#40484357)
It pretty simple.

Banking service is the service of a bank.

BaaS is the service of a middleman who sells the banking service of a bank to its customers.

Synapse isn't a bank.

[ Parent | on HN ]
Re:(FinTech) Synapse has collapsed, 10M consumers, 100s of f... by scrubs on Sunday May 26, 2024 @02:43PM (#40484401)
Yah ... not a bank ... that makes it worse!
[ Parent | on HN ]