Sankaet Pathak, former CEO and founder of Synapse and current CEO of Foundation, delves into the rise and challenges of banking-as-a-service. He reveals the revelations behind Synapse's issues, including reconciliation problems and missing payments. Pathak discusses the complex relationship with bank partners and the regulatory oversights encountered in the fintech space. The conversation also highlights the potential role of blockchain technology and the importance of transparency to regain customer trust in a shifting financial landscape.