How embedded finance leader Synapse grew to powering 10MM+ consumers, with CEO Sankaet Pathak

Lex chats with Sankaet Pathak, the founder and CEO of Synapse - the largest regulated banking-as-a-service platform that provides payment, card issuance, deposit, lending, compliance, credit and investment products as APIs to more than 18 million end users. In this episode, Sankaet delves into his journey that led him to fintech and the decision to build a robust financial infrastructure. Together, Lex and Sankaet explore the value of modular architecture in dissecting financial infrastructure and the role of middleware in distribution. Reflecting on the global demand for the US dollar in crypto markets, and assessing its implications. Sankaet shares key metrics for evaluating Synapse's scale and success and discusses revenue generation and cost alignment in the FinTech space. They analyze market dynamics, the impact of COVID, and navigating the regulatory landscape. MENTIONED IN THE CONVERSATION Synapse's Website: https://bit.ly/3DiUT6YSankaet's LinkedIn profile: https://bit.ly/3Da8jCx Topics: BaaS, API, Open Banking, payments, banking, Fintech, Embedded Finance Companies: Synapse, SynapseFi, Stripe, Square ABOUT THE FINTECH BLUEPRINT 🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2 🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV 👉 Twitter: https://twitter.com/LexSokolin  TIMESTAMPS 1’21”: Journey into fintech: Understanding the founder's background, skills, and motivation for building a banking infrastructure company 5’45”: From consumer play to financial infrastructure: The decision to build a foundational layer in the fintech landscape 10’31”: Dissecting financial infrastructure: The value of modular architecture and the challenges of integrating traditional banking services 15’45”: Envisioning the role of middleware: Banks as distribution mechanisms through third-party applications 20’52”: Examining the global demand for the dollar in crypto markets: Reflecting on the US role and implications for crypto companies 25’55”: Evaluating Synapse's scale and success: Key metrics for progress and growth 28’02”: Balancing Synapse’s business economics: Revenue generation, cost alignment, and pricing strategies in the FinTech space 31’30”: Analyzing market dynamics: Impact of COVID, growing demand, competitive landscape, and future outlook in embedded finance 37’37”: Navigating the regulatory landscape: Addressing challenges and fostering stability in a transforming financial industry 41’39”: The channels used to connect with Sanket & learn more about Synapse