How does Synctera anticipate changes in the distribution of revenue and interchange between stakeholders over time?

I think the interchange splits over time will get to an equilibrium, something like 85/15 in percentage share between the banks and the fintechs, or the fintechs and the banks, depending on how you do the math.

Over time there'll be an equilibrium on the price of components, and because we've got a marketplace dynamic, the fintech is always going to get the best price from us because they're going to have banks competing across these different vectors, and/or they will get the fastest time to market because there'll be a bank that will do it at any price. Early-stage fintechs really don't care about price, they care more about: Can they launch? Can they get user signal, because they need to launch and get to their Series A or Series B? Our marketplace dynamic, on a price basis, ensures fastest time to market and best price for the FinTech.

For the bank, it's deal flow. They don't do any work. We've got two or three fintechs a day pinging us and saying, "Hey, do you have a bank? We need to launch."