Latest news with #Synapse
Yahoo
7 days ago
- Business
- Yahoo
CFPB moves to hold Synapse accountable for missing customer funds
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Consumer Financial Protection Bureau is preparing to file an adversary proceeding complaint against now-bankrupt Synapse Financial Technologies, alleging unfair acts or practices and failure to maintain adequate records of consumer funds. Since a June 27 hearing, Synapse's Chapter 11 trustee, former Federal Deposit Insurance Corp. Chair Jelena McWilliams, and her team have been meeting with the CFPB, responding to queries and providing the requested data and records to support the bureau's investigation, she said in an update filed Thursday. 'Specifically, the Bureau plans to allege that Synapse failed to maintain adequate records of the location of consumers' funds and failed to ensure those records matched the records maintained by the partner banks, causing consumers to lose access to their funds, an estimated $60-90 million of which still have not been recovered,' McWilliams wrote Thursday. The court document noted that McWilliams and the CFPB are negotiating a proposed stipulated final judgment that would include 'nominal monetary penalties,' which they'll seek a judge's approval of. The CFPB has indicated that continuing the case — in either Chapter 11 or Chapter 7 bankruptcy filing – would expedite its investigation and judgment process, compared to dismissal of the case. In June, the CFPB filed a statement of interest that supported converting the case to Chapter 7 rather than dismissing it, as it would better serve consumers who haven't been fully compensated. The bureau claimed that hundreds of consumers, who were end users of the fintech platforms that used Synapse's systems, have filed complaints with the CFPB, saying their accounts were frozen and they have received only a fraction of their funds. 'The Bureau has a strong interest in pursuing its claim because it has a mechanism to potentially make victims whole without payment from Debtor's estate,' the CFPB said in the June court document. After a final judgment, the CFPB's subsequent work – including potentially accessing its civil penalty fund to compensate affected users – would not depend on an active bankruptcy case, McWilliams noted in her latest statement. A hearing on the conversion motion is scheduled for Monday. According to the CFPB, since 2010, $3.3 billion in CPF payments have been made to eligible consumers, while $3.7 billion has been collected into the fund. As of Sep. 30, 2024, the CPF had an unallocated balance of $118.9 million in funds that have been collected and are not allocated for administrative purposes. When middleware provider Synapse filed for bankruptcy in April 2024, more than 100,000 consumers' funds were frozen, cutting off access to around $265 million in deposits. To date, many consumers still wait to be made whole since Synapse, Evolve Bank and fintechs involved did not maintain accurate ledgers tracking who the money belonged to and where it was held, which led to 'gross mismanagement' of funds. Synapse partnered with fintech companies like Yotta, Juno, Mercury and Copper and insured banks like Evolve, Lineage Bank, American Bank and AMG National Trust. The middleware fintech helped manage the transfer of funds and the maintenance of records between the fintech apps and the banks where those funds would be ultimately stored. In June, GlassRatner Advisory Services facilitated Evolve's access to data stored in Synapse's Amazon Web Services environment, according to a court document.. On July 31, Evolve's counsel informed McWilliams that Ankura and Evolve had finished the data copying process and a complete copy of Synapse's AWS data was stored in an Evolve-controlled AWS environment. Ankura is an independent third-party expert, providing accounting and data analysis services to help Evolve navigate the complex situation stemming from the Synapse bankruptcy. On Wednesday, Evolve filed a stipulation establishing an agreement between McWilliams and the bank and providing for Evolve's continued maintenance of Synapse's AWS data beyond the final disposition of the case. Evolve declined to comment. Recommended Reading Wells Fargo expects 'significant increase' in risk-weighted assets Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-08-2025
- Business
- Yahoo
Microsoft (MSFT) Gets $650 Price Target as Fabric Becomes Fastest-Growing Data Platform
Microsoft Corporation (NASDAQ:MSFT) is one of the . On August 4, Stifel analyst Brad Reback reiterated a Buy rating on the stock with a $650.00 price target. The rating affirmation follows positive earnings commentary and strong partner checks for Microsoft Fabric, the company's unified, end-to-end, SaaS (Software as a Service) data analytics platform. According to Stifel, Fabric is the fastest-growing platform in the company's history. 'The product is already demonstrating strong momentum, as just two years post launch it has >25k customers and 55% Y/Y revenue growth, and represents the fastest-growing data platform in Microsoft's history. Given this, we decided to dive deeper into Microsoft Fabric and its subset of capabilities (Data Factory, Synapse, PowerBI, OneLake, etc.), as we believe that the offering differentiates Microsoft's data stack from other vendors.' Microsoft Headquarters The firm believes that even though Fabric offers many products and capabilities that may have broader implications for other data analytics companies, it is likely possible for all of these solutions and tools to coexist. 'Not surprisingly, given the broad set of products and capabilities within Microsoft Fabric, we expect competitive implications for the broader data analytics ecosystem, including both Snowflake and Databricks. That said, given the accelerating pace that enterprises are moving to modernize their respective data estates in order to effectively leverage rapidly evolving genAI tools we believe the solutions can co-exist for years to come.' Microsoft Corporation (NASDAQ:MSFT) provides AI-powered cloud, productivity, and business solutions, focusing on efficiency, security, and AI advancements. While we acknowledge the potential of MSFT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Must-Watch AI Stocks on Wall Street and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gizmodo
10-07-2025
- Gizmodo
Razer Basilisk V3 Ergonomic Gaming Mouse Has Never Been This Cheap, Now Almost 50% Off for Prime Day
Even the most powerful gaming PC feels clunky if your mouse can't keep up, and the Razer Basilisk V3 Gaming Mouse is built to turn every swipe and click into smooth, precise action. Whether you play fast-paced shooters, dive into strategy marathons, or simply need a dependable pointer for day-to-day tasks, this mouse gives you comfort, accuracy, and style without costing a fortune. And sometimes that's all you really need for a good gaming setup. Head over to Amazon to get the Razer Basilisk V3 Gaming Mouse for just $36, down from its usual price of $70. That's a discount of $34 and 48% off for Prime Day. See at Amazon The Basilisk V3 is designed to fit your hand like a handshake. A contoured thumb rest keeps your grip relaxed during long sessions, and textured side panels help you stay steady in tense moments. Eleven programmable buttons give quick access to push-to-talk keys, weapon switches, or productivity shortcuts, so you spend less time reaching for the keyboard and more time staying in the zone. Using Razer's Synapse software, each button can be mapped in seconds, and profiles save automatically for different games or work apps. The Basilisk's scroll wheel adds even more options. Standard scrolling handles web pages and chat logs with ease, while a press of a button switches to a free-spin mode that glides through long documents in a single flick. You can also tilt the wheel left or right to assign extra commands. This helps speed and accuracy when changing items in games or scrolling through the timeline when editing video. Under the hood, the Focus+ optical sensor tracks up to 26,000 DPI with pinpoint accuracy. That number sounds technical, but in practice it means the cursor moves exactly where you expect, even on high-resolution monitors. Paired with Razer's optical switches, which use a light beam instead of metal contacts, every click registers almost instantly and lasts for up to 70 million taps before showing wear. If you like a bit of flair, fully addressable Chroma RGB lighting runs along the base and logo. The colors sync with in-game events, other Razer gear, or simply rotate through a rainbow pattern while you browse. Prefer a low-key look? One tap turns the lights off completely. A braided cable resists tangles, large PTFE feet keep the glide smooth on any pad, and onboard memory stores settings so the mouse feels familiar wherever you plug it in. The Basilisk V3 is still available for $36 at Amazon, trimmed from its regular $70 list price. So if you're ready to upgrade your mouse situation, this is the best way to do it. See at Amazon
Tom's Guide
29-06-2025
- Entertainment
- Tom's Guide
I ditched my headset for this wireless speaker head cushion — and now I have surround sound right from my gaming chair
There's nothing more immersive than playing your favorite games or watching videos in surround sound, though it can be hard to find the space for all those extra speakers, especially at your desk. Normally in this situation, most people turn to a pair of headphones or one of the best gaming headsets to achieve something similar. While convenient, you're usually getting virtual surround sound instead of the hardware-based surround sound that a true multi-speaker setup delivers. Likewise, wearing headphones or a headset can be too isolating since you can't hear what's going on around you. That is unless you pick up a pair with an open-back design like the Turtle Beach Atlas Air headset I tried out last year. Alternatively, you could get some of the best computer speakers like the Logitech Z906 5.1 Surround Sound Speaker System. That one served me reliably for years before I decided to downsize to something simpler to avoid having cables from its five separate speakers running across my room. Just when I thought I'd never have surround sound at my gaming desk setup again, Razer has come up with a unique solution to all of these problems. Not only is it wire-free, but you don't have to deal with the discomfort that comes from wearing headphones or a headset for hours at a time. And at those times when you don't want surround sound, the Razer Clio doubles as a primary speaker. Here's how I gave one of the best gaming chairs a major upgrade with a new head cushion that pumps out immersive sound right to my ears. This wireless head cushion add-on straps onto the back of most gaming chairs and features integrated near-field dual speakers. You can use it alongside your existing speakers or soundbar for a simpler surround sound experience with Razer's Synapse software or you can use this wireless head cushion on its own as a Bluetooth speaker. With up to 14 hours of battery life, the Razer Clio holds a charge through even the longest gaming sessions. At first glance, the Razer Clio looks like it's a missing piece to the Razer Iskur V2 or one of the company's other gaming chairs. However, it's designed in such a way that it can slip onto the back of most gaming chairs, not just those from Razer. The front of the Clio features plush memory foam in the middle and on the sides to add some extra comfort to your gaming chair. Then, underneath this on the sides of the head cushion, there are integrated near-field dual speakers powered by a 5,400 mAH battery. Of course you get the green Razer logo in the middle but on the one side, there's also a THX logo since the Clio comes equipped with spatial audio powered by THX. It's only available in black at the moment but I wouldn't be surprised if Razer releases a white version later on. All of the controls are on top of the head cushion and I found them easy enough to reach even when sitting in a gaming chair with it attached. In the middle, there's a power button with volume controls on the left. On the right, there's an EQ button to switch between three different modes (Game, Movies, Music) and a source button that lets you connect to your PC or game consoles using Razer's 2.4 GHz HyperSpeed USB-C dongle or via Bluetooth. On the edge of the head cushion's left side, you'll find a USB-C port which is used for charging the device. According to Razer, the Clio can last up to 14 hours on a single charge and when the battery runs out, it takes approximately six hours to fully recharge it. This didn't stop me from using it though, as I put one of the best power banks on my gaming chair's backrest and ran a long USB-C cable to the Clio so that I could charge up the head cushion. Alternatively, you can plug it directly into your PC or into a wall outlet with a USB charger. Around back, you can see the two adjustable straps that allow you to attach the Clio to all of Razer's chairs and most other gaming chairs. You also get a nice view of the back of its built-in speakers which definitely gives your gaming chair a futuristic look when viewed from behind. As I don't have a Razer gaming chair on hand, I decided to try out the Clio using the Fractal Refine gaming chair from Fractal Design. Fortunately, it has a detachable headrest pillow that pops off which left me with plenty of room to attach the Clio. I have to admit, I was somewhat worried that it wouldn't fit at first given that the Refine isn't one of Razer's gaming chairs and its headrest is 12 inches across at its base in the back. As its straps are adjustable, the Clio can accommodate any gaming chair with a headrest circumference between 18.5 to 25.6 inches. The Refine has a circumference of 23.5 inches, so it is on the larger side. However, by adjusting the straps like you would on a backpack, I got the Clio to fit snuggly on the chair. I do wish the bottom strap was a bit wider on the Clio but with a bit of back and forth, I got it attached to my gaming chair and it held firmly in place once I was done. Although the Clio will work with any soundbar or 2.0/2.1 speaker system, Razer also sent over a pair of its Nommo V2 Pro speakers for me to test it out with. They worked just as well with my gaming PC using a USB cable as they did with my Nintendo Switch 2 connected via Bluetooth. The Nommo V2 Pro sound great for movies and especially for gaming. Plus, I really like the dash of RGB backlighting they add to my desk setup. With the Razer Clio attached to my gaming chair and fully charged up, it was time to see how well they could deliver a surround sound experience when paired with the Nommo V2 Pro along with what this wireless speaker head cushion sounded like on its own as a primary speaker. Right from the get go, I could immediately see the appeal of having a pair of speakers strapped to either side of my gaming chair. The sound coming from the Clio went straight to my ears as the speakers built into the head cushion are angled just right. Even as a primary speaker and not as part of a hybrid surround sound system, I was impressed. Likewise, thanks to the included HyperSpeed USB-C dongle in the box, I just plugged it into my computer, powered on the Clio and I was ready to go. On its own, the Clio will work as a primary speaker in either 2.4 GHz or Bluetooth mode. To use it as part of a surround sound setup though, you first have to install Razer's Synapse software. If you have one of the best gaming mice or another peripheral from the company, chances are, you've already installed Synapse. Since I review the best mini PCs including more powerful ones you can actually game on, I'm always switching between computers. For that reason, I had to download and install Synapse on the Acemagic Tank 03 gaming PC I decided to use in my revamped desk setup. After logging into my Razer account, the Clio appeared in a new tab at the top of the program with an update for it ready for me to download. Once I updated its firmware, I then had full control over the wireless speaker head cushion in Synapse. In Razer's software, I could adjust the Clio's volume, EQ settings and more but this is also where you can combine it and another pair of speakers or a soundbar in surround sound mode. After you do this, you can then tweak the volume for both your speakers at the front and for the Clio at the back which acts like a pair of rear surround sound speakers. I have to admit, I had some trouble getting it to work in this way at first. Everything was fine when listening to music or watching videos on YouTube. However, I couldn't get the Clio to work in surround sound mode while playing games. After poking around Synapse for a bit, I realized that I had to manually set which speaker or speakers I wanted to use on a per game basis. After checking the boxes next to the Clio and the Nommo V2 Pro speakers in Synapse, I fired up Rocket League and was met with a true surround sound experience. Playing one of my favorite pick-up-and-go games with the Clio in surround sound mode was amazing — from the stadium's ambient noise to the rush of the ball flying past me, it all felt incredibly immersive. In fact, doing so brought me back to how it felt to play Rocket League with my Logitech Z906 5.1 system when the game first released a decade ago. With my initial PC testing out of the way, it was time to test the Razer Clio with the other device on my desk: the Nintendo Switch 2. Thanks to the second USB-C port at the top of Nintendo's new hybrid console, all I had to do was plug in Razer's HyperSpeed USB dongle there and everything worked just like it did on my gaming PC. From there, I undocked my Switch 2 and tested out the Clio while playing in handheld mode. This too worked like a charm and I could see how it might be fun to play this way while fully reclined in my gaming chair. Since you can't run third-party apps like Razer Synapse on the Switch 2 or other consoles for that matter, you're limited to using the Clio as a dual speaker setup instead of as a surround one. Still, I liked having the sounds and catchy music from Mario Kart World inches from my ears and even with the Clio's volume turned up high, my family members in the same room with me couldn't really notice. Honestly, the whole experience reminded me a lot of playing games with the Viture Pro XR glasses which also have built-in speakers. With one console tested, I decided to head to my recently finished black-and-white desk setup in my office and give the Clio a try with the PS5 Pro. As Sony swapped out the PS5's front USB-A ports for USB-C ones on the PS5 Pro, once again, I just plugged in the HyperSpeed dongle, powered on the Clio and was ready to go. The console recognized the Clio as a USB headset which is actually quite fitting as that's the exact device Razer has positioned it as an alternative to. Playing Astro Bot with the Clio was a whole lot of fun and with the Dual Sense controllers' advanced haptics, the whole experience was extra immersive. It's worth noting that due to Microsoft short-changing the Xbox Series X, you won't be able to use the Clio with it since that console doesn't support audio over USB or via Bluetooth. At the end of the day though, the Clio was designed with PC gaming in mind. The fact that you can use Razer's wireless speaker head cushion with consoles or even your phone or tablet is just icing on the cake. Still, I had a ton of fun playing Switch 2 and PS5 Pro with it as a primary speaker and I can't wait to give some more immersive games like Death Stranding 2 a try with the Clio to see if it further adds to the experience. At $229, the Razer Clio certainly costs more than a good gaming headset or a pair of headphones with virtual surround sound. However, for the price, you're also adding some extra comfort to your gaming chair and the ability to use its built-in speakers on their own or as part of a surround sound system. At the same time, all you have to do is loosen its straps to move the wireless speaker head cushion from your old gaming chair to a new one down the line. The Razer Clio certainly won't be for everyone given its price and the fact that you need a compatible gaming chair to use it. However, if you want an open surround sound experience and are short on space or just don't want to have wires running across your floor, then it could be a nice upgrade for your gaming setup. While I wish it could offer the same surround sound experience on consoles that it does on PC, Razer is a PC gaming company after all. Even as a primary speaker, I still found its dual speakers to provide a more immersive experience overall as they were a lot closer and angled just right to reach my ears. Now that Razer has made a detachable head cushion with wireless speakers inside, who knows, maybe we could one day see the company make a gaming chair with built-in surround sound or at least just built-in speakers. After trying out the company's Project Arielle, which added integrated heating and cooling to its mesh Fujin Pro gaming chair. at CES 2025 this year, anything's possible.
CairoScene
12-06-2025
- Business
- CairoScene
Dawarha Sah Ep03: AI Isn't Magic It's A Business Plan With Ahmed Abaza
Dawarha Sah Ep03: AI Isn't Magic It's A Business Plan With Ahmed Abaza For episode three, we sit down with Ahmed Abaza, CEO of Synapse Analytics, one of the region's most pioneering AI companies. For episode three, we sit down with Ahmed Abaza, CEO of Synapse Analytics, one of the region's most pioneering AI companies. In this candid conversation, Ahmed breaks down the real-world applications, and limitations, of AI in business, arguing that AI is not a buzzword or silver bullet, but a strategic tool that only works when grounded in actual business needs. We explore Egypt's AI talent landscape, the challenges of implementing AI at scale, and how Synapse partners with corporations to deploy custom models that actually move the needle. Whether you're curious about building data infrastructure, fighting the hype around generative AI, or understanding how AI can (and can't) transform your company, this episode will ground you in what's real and what's next. 🎧 Stream it now on Spotify or Anghami, or watch the full episode on StartupScene's YouTube, (link in bio), or the #SceneNow app available on iOS and Android. EMBEDD StartUpScene, in partnership with Falak Startups, presents Dawarha Sah, the go-to podcast for entrepreneurs, investors, and business leaders navigating Egypt's evolving startup landscape. With deep dives into business, investment, innovation, and policy, Dawarha Sah unpacks the critical forces shaping the region's economy. From funding strategies and patent licensing to deep tech adoption and regulatory frameworks, Dawarha Sah brings together the minds shaping the future of business in MENA. Hosted by government relations consultant Dania Ghoneim, the podcast draws on her expertise in lobbying, public policy, and crisis management to unpack the ecosystem's most urgent questions.
