Sankaet Pathak is the founder of Synapse, which filed for bankruptcy. A banking-as-a-service middleware platform's slide into bankruptcy is another sign of trouble for this business model, where ...

The collapse and bankruptcy of BaaS fintech Synapse has revealed how treacherous things are for the often-interdependent fintech world when one key player hits trouble. Synapse operated a service that ...

Over the past decade, dozens of financial-technology companies have linked up with small and midsize banks across the country. The idea: The fintechs would create slick smartphone apps and offer ...

A group of senators has banded together to urge Synapse’s owners and bank and fintech partners to “immediately restore customers’ access to their money.” As part of their demands, the senators ...

One user said they had “over $60,000” tied up in an account that was unreachable. Another, a single mom, had just bought a home and couldn’t access the funds to make the first mortgage payment. A ...