Synapse Launches Credit Hub BaaS Platform with Mastercard

Synapse announced the launch of its Credit Hub in August 2021, a full-stack API-based banking-as-a-service platform designed to help fintechs and neobanks rapidly build and deploy credit products. The platform was launched in partnership with Mastercard and multiple bank partners, offering white-label capabilities for card issuance, lending accounts, and credit-building tools. Companies using Credit Hub could go to market in as little as six weeks, with out-of-the-box access to KYC, card issuance, and payment tools including ACH, wires, and bill pay.

During its private beta phase, the platform had already facilitated approximately 1 million credit accounts and over $40 million in credit. The partnership with Mastercard provided card network infrastructure while Synapse handled the API layer and bank connectivity. This launch positioned Synapse as a comprehensive BaaS provider in the credit space, lowering barriers for fintechs seeking to offer lending and credit products without building direct bank relationships.