What a year!

As we close out the year, we wanted to take a moment to reflect on all that we have accomplished in 2022 and to share some of the exciting developments for 2023.

Deposits is a special company that sits at the convergence of software, banking and payments and is a driving force in the expansion of embedded finance… essentially a way to extend or integrate financial services and products into any product and service, such as apps, websites, and devices. We help more than banks alone, we also help companies to offer best in class financial services to their customers without requiring them to leave the company's platform or become a product expert or financial service provider.

We've been focused on plug and play solutions that drive innovation in the banking and embedded finance space and have made significant progress over the past year. Some of our major achievements include launching new products and features; to highlight a few:

  • Treasury-- a data connectivity API layer that removes the constraints of legacy systems and extends the functionally of underlying connections. With treasury we can finally innovate at the speed of now with a single schema, request and response structure doesn’t change from bank to bank, issuer to issuer or app to app. This year we added integrations such as Qolo, Increase, MX, Fingoal, Highnote, Praxell, Banno and others. (s/o Precious, Fergeson, Samuel, Samson.. Thank you!)
  • Money Kit a plug and play collection of mobile banking and fintech tools in one installable package that allows banks and brands to deliver modern, engaging, financial experiences in 90 days or less. ( s/o Amaka, Samuel, Nancy, Jeff, Ferguson, William)
  • UI kit & Front End architecture - a collection of themable reusable micro-experiences that extends the composable nature of microservices to user interfaces. UI Kit  bundles our Schema, Theming Engine, and Front End Framework. UI kit is used to power many of our projects such as the API Docs, Kysync, Launch.new, Merchant Kit, and Banking V2. (shout out to Eric, Charles, and Samson!)
  • Console/ Fintech launch pad - Launch.new a first of its kind console that serves both business and developer personas under one roof, it also creates a no-code back-office with all the tools to manage fintech and banking businesses and can do so in under 5 minutes. ( s/o Bernard and Precious.. You rock!)
  • Participating in industry events such as Money 2020, Finovate, and the Money Experience summit, which allowed us to connect, network, and share our work with key industry players. (s/o Daniel, Feng, Giselle)
  • Improving internal communication and streamlining data flow and feedback for customers through initiatives such as the internal datapool, reconciliation engine and partnerships with companies like fingoal and MX for data enrichment and insights. ( s/o Aun, Nancy, Precious)
  • Releasing the v2 of our APIs, the backoffice, console, the KySync Web-app which allows us to generate unique URLs for entities to conduct KYC & KYB at their own convenience, the payouts SDK, Merchant SDK, Balance SDK, One Click Payments SDK ( s/o Mazhar, Eric, and the entire product team)
  • Releasing several Blogs, articles, API Guides and product cookbooks (s/o to Giselle, OY, Oluchi)
  • Achieving an avg of ~500% pipeline growth in the second, third and fourth quarters
  • Working on improving compliance and 3rd party risk through the build-out of our compliance package, security audits, certifications and meetings with the OCC (s/o to Brian, Daniel, Samuel)

In addition to these achievements, we have also focused on expanding our support for key verticals including online banking, originations/account opening, payouts/disbursements, and ecommerce…We believe that by focusing on these areas, we can achieve growth and make a significant impact in the banking and embedded finance industry.

We also want to recognize and thank our customers, partners, and employees for their support and contributions to the company's success over the past year. I could not mention all of you by name but I want you to know that we’re grateful for the support and could not have done it without you!.

Looking ahead to 2023, we have big plans and are excited to continue working together as a team to achieve even more. Some of the jobs to be done that  we will be working on in the coming year include:

  • Team Expansion - will be bringing on strategic hires that drive our operational and  revenue goals.
  • Ecosystem expansion- growing our connections and customer base and building strong relationships with our partners.
  • Investing in new technologies and innovation, that will drive the future of banking and embedded finance.
  • Improving our internal processes and systems to increase efficiency and productivity.
  • Continuing to focus on compliance and regulatory requirements to ensure that we are operating in a responsible and sustainable way.

Into 2023, I am excited to continue working together as a team to achieve even more. Happy holidays and best wishes for a wonderful new year.


Joseph Akintolayo

Founder, CEO | Deposits

Deposits Team

Deposits Team

Dallas Texas