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Synctera is the latest banking-as-a-service startup to lay off staff
The startup, which has a platform that brings together fintech companies and sponsor banks, has raised nearly $80M in funding.
Banking-as-a-service startup (BaaS) Synctera has conducted a restructuring that has resulted in a staff reduction, the company confirmed to TechCrunch. While Synctera did not share how many employees were impacted, a report in Fintech Business Weekly pegs the number to be about 17 people, or about 15% of the company. For instance, those providing BaaS to fintech partners accounted for over 13% of severe enforcement actions from federal bank regulators last year, S&P Global Market Intelligence reports.
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