Category: BAAS
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Synapse Bankruptcy, A Wake-Up Call for Banking-as-a-Service
The recent abrupt bankruptcy filing of financial technology company Synapse has sent shaken the banking industry. Synapse Financial Technologies, which acted as a middleman between fintech firms and banks, has frozen the accounts of tens of thousands of businesses and consumers as a result of its Chapter 11 bankruptcy protection filing in April. This debacle…
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