The Synapse Mess Just Got Messier. It Highlights the Risks of BaaS Partnerships.
Plus, Clair's CEO says EWA products are loans. Regulations still need to be updated.
Number of the Week: $17 billion (explanation below)
The Synapse Mess Just Got Messier. It Highlights the Risks of BaaS Partnerships.
The Synapse mess—years in the making—just got a whole lot messier. The once-fast-growing Banking-as-a-Service (BaaS) provider filed for bankruptcy in April. Now, it has cut off services to some of its bank and fintech partne…
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