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Synapse’s collapse has frozen almost $160M from fintech customers — right here’s the way it occurred
The collapse and chapter of BaaS fintech Synapse has revealed how treacherous issues are for the often-interdependent fintech world when one key participant hits hassle. Synapse operated a service that allowed others (primarily fintechs) to embed banking providers into their choices. For example, a software program supplier that specialised in payroll for 1099 contractor-heavy companies…