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HOUSTON, July 30, 2019 (GLOBE NEWSWIRE) -- Synapse, a pioneer in developing the framework on which other fintech and financial services firms can quickly build quality banking applications, has joined the Cardtronics-owned Allpoint Network to give Synapse customers immediate access to the 55,000 ATMs that make up the surcharge-free ATM network. Unlike many emerging fintech firms competing to serve consumers directly, Synapse has built a plug-and-play architecture that allows a wide range of financial services firms to quickly spin up consumer-facing programs using the Synapse platform.
Service offerings from Synapse cover virtually all of the major needs of an emerging, or evolving, financial services firm, including card issuing, card processing, wire transfers, deposit accounts, loan origination and processing, remote deposit capture and more. With access to Allpoint Network’s 55,000 ATMs, 40,000 of which are located in the United States, Synapse is able to extend its service offering further, providing a physical connection point for surcharge-free cash access in top retail locations from coast-to-coast.
“What was super critical for us was the accessibility and convenience of Allpoint Network ATMs, whose fee-free ATMs are located in high-profile retail locations such as grocery stores and pharmacy retailers,” said Synapse CEO Sankaet Pathak. “We want to make it safe and easy for people with service-level jobs to do internet banking, and that includes having convenient access to quality network ATMs.”
Allpoint Network is a key element of Cardtronics’ solution platform, developed to provide fintech firms and traditional financial institutions with on-demand cash withdrawal and deposit access, efficiently converting electronic funds to the physical cash consumers demand. It is the largest retail-based surcharge-free ATM network in the United States and the world.
“The Allpoint Network is a natural solution for fintech firms like Synapse that are competing in a digital-focused world, delivering on the virtual half of personal finance while Cardtronics delivers on the physical cash access infrastructure that connects bits and bucks,” said Brian Bailey, Cardtronics EVP and Managing Director, North America. “As an enabling solution, Synapse can leverage Allpoint membership to benefit multiple firms and their respective customers, expanding Allpoint’s surcharge-free value proposition well beyond a single relationship.”
Synapse provides payment, deposit, lending and investment products as APIs to FinTech companies who build and launch their financial innovations on top of Synapse’s banking infrastructure. Its mission is to ensure that everyone around the world has access to best-in-class financial products, regardless of their net worth.
About Cardtronics (Nasdaq: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 229,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike.
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