Sankaet Pathak – CEO Of Synapse

In our latest podcast, Meghna Sreenivasan (WG ’20) is joined by Sankaet Pathak, CEO of Synapse (https://synapsefi.com). In this extensive interview, Sankaet explains how Synapse offers developer-facing APIs for companies building innovative financial products and bank-facing APIs so banks can automate their back-end operations. Sankaet also does a deep dive in how customers interact with Synapse, the trend from enablement to high fidelity user experience in financial services, and his journey as an international entrepreneur. Synapse provides payment, deposit, lending and investment products as APIs to FinTech companies who build and launch their financial innovations on top of their banking infrastructure. Synapse enables everyone around the world to access best-in-class financial products, regardless of their net worth. Sankaet Pathak came to the US from India to study computer engineering at the University of Memphis.  His experience of not being able to open a bank account due to his immigrant status, prompted him to launch a financial services company that could reduce barriers of entry for underbanked or unbanked folks. Through his efforts, Sankaet found that the true barrier to entry was an outdated infrastructure that kept everyday people from accessing best-in-class financial products. Today, Synapse services over 1.8 million end-users and processes over $10 billion in deposits. Many of Synapse’s clients are small FinTech companies offering innovative financial solutions that are both accessible and affordable for end users.