SAN FRANCISCO--(BUSINESS WIRE)--Synapse Financial Technologies, Inc., a regulated embedded finance platform that increases access to best-in-class financial products, today announced it is partnering with AMG National Trust (“AMG”), a Denver-based wealth manager and national bank, to enhance Synapse’s capacity to rapidly deliver innovative digital financial services to fintechs and their customers.
“We are thrilled to welcome AMG National Trust to our expanding list of bank partners that enable us to offer world-class financial services to our customers,” said Synapse CEO and co-founder, Sankaet Pathak. “As a regulated embedded finance provider, Synapse can offer the best terms and services from across our bank partner ecosystem to fintech companies and enterprises. We look forward to collaborating with AMG to further strengthen the value we deliver to our customers, while supporting their endeavors to provide digital financial services to the fintech industry.”
“We are excited about partnering with Synapse,” said Sheryl Bollinger, President and CEO of AMG. “Since our inception, AMG has been committed to growing and evolving our business to meet the needs of our clients. With our size, independence, and diverse range of products, we are well-positioned to partner with Synapse to enable critical capabilities for its customers.”
AMG will serve as a partner bank to Synapse’s broker dealer and credit entities in providing services such as virtual account issuance, BIN sponsorship, and payment processing.
With an affiliated broker-dealer and regulated member of FINRA and SIPC, Synapse is uniquely positioned to deliver cash management programs and modular banking, an infrastructure that sources specialized services across multiple bank partners to deliver them collectively as a complete offering to all fintech and enterprise customers.
Synapse was founded in 2014 with the mission to ensure that everyone around the world has access to best-in-class financial products, regardless of their net worth. Synapse’s regulated embedded finance platform provides payment, card issuance, deposit, lending, compliance, credit and investment products as APIs to more than 18 million end users. It has an annualized transaction volume of $76 billion across 91 million transactions. The company is backed by more than $50 million in funding from top venture firms, such as Andreessen Horowitz, 500 Startups, and Trinity Ventures, and recently ranked #92 in Financial Services on the 2022 Inc. 5000 Fastest Growing Companies list. Global cash management services are provided by Synapse Brokerage LLC, a registered broker-dealer and member of FINRA and SIPC. Synapse is not a Bank. Banking and card services are provided by Synapse Financial Technologies Inc.’s partner banks, Members FDIC. For more information, please visit synapsefi.com.
About AMG National Trust
AMG National Trust (“AMG”) is a privately held wealth manager and national bank headquartered in Denver, Colorado. For over 45 years, AMG has helped affluent individuals and families, corporate executives, business owners, nonprofit institutions and endowments reach their financial goals. AMG provides integrated financial planning, investment management, access to private capital, tax preparation, trust administration, charitable giving, retirement plan administration, and personal and corporate banking services. AMG manages approximately $6.6 billion for clients from eight locations across the United States. For more information, please visit www.amgnational.com or call 800.999.2190.