Synapse: Programmable Banking Platform

Just wanted to write a quick post about a new startup I discovered today called Synapse. Synapse is a programmable banking platform that “enable[s] companies to build and launch best-in-class financial products. ” At the moment I happen to be working on a new personal finance app called, MoneyPhone, and I think it would be really interesting to see what sorts of features I might be able to add using Synapse. Specifically, I think it would be really awesome if I could create a checking account that gives users control to prevent companies from pulling money from your account at will. Here’s an example: I signed up for some sort of dental plan through my dentist last year under the assumption that I was making one payment for one year of this dental treatment plan. Well 12 months later the dental plan company just pull $300+ dollars from my account unannounced. Month-to-month payments aren’t that bad, but companies shouldn’t just be able to pull money from your account unexpectedly. So I’m going to have to check out Synapse and what all I can do with it. I am very excited about the new features I might be able to add to MoneyPhone in the future with the power of Synapse.