CNBC

How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts

For customers, fintech promised the best of both worlds: The innovation, ease of use and fun of the newest apps combined with the safety of government-backed accounts held at real banks. The collapse ...

The spectacular Synapse collapse: The ugliest divorce in fintech left $200 million in customer money frozen—and shows the risks of financial apps

In 2022, after her family had a series of health scares, Kayla Morris sold her house. She cleared $280,000, representing 15 ...
CNBC

Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says

Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago, according to one of the lenders involved. A ...
TechCrunch

Synapse’s collapse has frozen nearly $160M from fintech users — here’s how it happened

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 ...
Crowdfund Insider

Synapse Failure Impacts Other Fintechs, Crowdfunding Platforms

Synapse, a Banking as a Service (BaaS) provider labeled in 2023 as one of the World’s Best Fintech Companies by CNBC, is in the throes of bankruptcy. In just a few short months, things have changed ...