If I understood right, the product here was selling banking services to other companies to build their own products on top of that. That's not a "banking service" in the typical sense, and I think the naming is correct.
> not a "banking service"
You seem to have contradicted yourself. Banking is a service in every instance of the word "banking" here. Appending "as a service" doesn't add meaningful information, it just make technology people sound outta touch with the reality of other business domains.
The "as-a-service" everything tag is become marketing hype. It is not meaningful analysis.
But at this point we can just agree to disagree. I think adding 'as-a-service' to everything and trying to 'disrupt' everything makes us look bad. You may think it looks good. Matter of opinion.
> Matter of opinion.
Indeed, there's going to be different views on these things so let's leave it there.
BaaS provider aren't regulated in the same way.
So it's good if they have a different for a service from a different entity.
Banking service is the service of a bank.
BaaS is the service of a middleman who sells the banking service of a bank to its customers.
Synapse isn't a bank.
I’d gladly use and even pay for good UX in Canada.
Til it falls and woops maybe chasing cheap fucks you in the long run. But hey, the investors made a profit! Who cares about the externalities.