Ingo Payments, an Alpharetta, GA-based company which specializes in account funding and disbursements solutions defined as Money Mobility, acquired Deposits, a Dallas, TX-based provider of modern banking software tools and infrastructure.
The amount of the deal was not disclosed.
This acquisition accelerates the launch of Ingo’s Modern Money Stack, which will enable banks, fintechs and brands to transform money flows into full, feature-rich accounts that foster new relationships, revenue streams, and utility, delivered in a modern, modular, compliant and cost-efficient way.
Led by CEO Joseph Akintolayo, Deposits is a fintech company providing modern banking software and infrastructure. It offers a suite of modular, API-driven solutions that enable banks and organizations of all sizes to rapidly build and deploy customized financial products and deliver financial experiences through its technology platform.
Led by CEO Drew Edwards, Ingo Payments, an Ingo Money Inc. brand, enables banks, fintechs and brands to build, launch, and scale innovative financial experiences through its bank-grade, compliance-first end-to-end platform, complete with money mobility capabilities built on modern money stack, that provides the foundation for account funding, mobile deposits, payouts, digital wallets, bank account creation, card issuing, PFM, and rewards solutions across a wide range of industries and use cases.
By vertically integrating issuing, payment processing, and risk underwriting services, it helps clients reduce third-party risk, operational complexity, and cost, while accelerating time to market.
Founded 23 years ago in partnership with a traditional bank, Ingo operated twelve bank branches serving the underserved Latino population in Atlanta.
FinSMEs
09/09/2024