Exploring the Future of Banking-as-a-Service with Fintech Executives

Wednesday, 31 July 2024, 22:58

The recent bankruptcy of Synapse, a prominent player in the Banking-as-a-Service (BaaS) sector, has raised concerns about the overall impact on fintech, particularly for consumer-oriented services. In response, industry leaders such as Itai Damti from Unit, Peter Hazlehurst from Synctera, and Sheetal Parikh from Treasury Prime discuss the resilience and compliance measures their companies are implementing to navigate these turbulent times. Their insights highlight the critical differentiation among BaaS providers and the industry's commitment to ensuring stability and trust moving forward.
Yahoo Finance
Exploring the Future of Banking-as-a-Service with Fintech Executives

The Future of Banking-as-a-Service (BaaS)

The serious, long-term negative impact of the bankruptcy of banking-as-a-service (BaaS) fintech Synapse will be significant on all of fintech, especially consumer-facing services. Industry leaders gather at TechCrunch Disrupt 2024 to address these concerns.

Insights from Fintech Leaders

  • Unit CEO and co-founder Itai Damti
  • Synctera CEO and co-founder Peter Hazlehurst
  • Treasury Prime general counsel Sheetal Parikh

These executives are emphasizing the need for compliance and responsible practices in the wake of Synapse's collapse, working diligently to set their firms apart in a sensitive market.

Importance of Compliance and Differentiation

  1. Ensuring operational compliance
  2. Proving that not all BaaS are created equal

As they navigate these challenges, their commitment to transparency and consumer trust is critical to shaping the future of BaaS in the fintech space.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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