How Ecosystem Partnerships Are Redefining Deposit Products

Introduction

Deposits have always been the bedrock of banking, and they continue to be the primary anchor for banks in providing stability, trust, and core liquidity. However, the global deposit landscape is undergoing a seismic shift. As of 2025, global deposits have surged to $87.6 trillion, with digital banks capturing 6.2% of new U.S. deposits and Gen Z deposits growing by 5.2% globally. Yet, traditional deposit products are under pressure as customers increasingly seek alternatives that offer higher returns and flexibility. In 2023, U.S. banks saw a 2.1% decline in traditional domestic deposits, while money market funds attracted $1.2 trillion in net inflows (FDIC, Office of Financial Research). This shift underscores the urgent need for banks to reimagine deposit offerings through innovation and partnerships.

To reclaim their primacy, forward-thinking banks are turning to product innovation through ecosystem partnerships, transforming deposit products into higher-yielding, experience-led offerings that align more strongly with customers’ digital-first lifestyles. What was once a commoditized, low-engagement product is now redefining its role in customers’ financial journeys. Through strategic partnerships, banks are making deposits accessible wherever customers live, work, shop, or invest, enhancing both relevance and stickiness.

In this article, we spotlight leading global examples of deposit innovation through ecosystem partnerships, showing how forward-thinking banks and their digital collaborators are redefining the future.

Evolving Customer Expectations and Emerging Segments

Post-pandemic, customers have become disillusioned with low-yield deposits and are seeking solutions that blend the safety of savings with the upside of market-linked instruments. This has accelerated demand for hybrids such as structured deposits, index-linked term deposits, and ESG-themed savings that promise better returns without full exposure to volatility.

Simultaneously, new and underserved segments - including gig workers, freelancers, small merchants, and Gen Z - are emerging as growth priorities. These groups value flexibility, goal-based savings, and products tailored to irregular incomes and digital-first lifestyles.

The way customers engage with banking is also shifting. Super-apps, embedded finance, and conversational interfaces are fast becoming preferred channels. From booking deposits on shopping apps to saving through ride-hailing wallets or using voice assistants for planning, customers now expect banking to integrate seamlessly into daily ecosystems - underscoring the urgency for banks to reimagine deposit offerings and distribution models.

Why Ecosystem Partnerships Matter

Ecosystem partnerships enable banks to reinvent deposits by delivering offerings difficult to build in-house. These collaborations make it possible to embed deposits into customers’ primary journeys, which would be difficult to achieve independently. Such ecosystem collaborations enable:

• Speed to market: Collaborations allow banks to roll out innovative deposit products faster, leveraging partner technology and infrastructure instead of rebuilding everything in-house.
• Access to niche customer segments: Partnerships open doors to underserved or specialized customer groups, such as gig workers, MSMEs, or digital-native youth, where traditional bank channels often struggle to gain traction.
• Shared economics: Ecosystem models lower customer acquisition costs and distribute risk - often delivering value where traditional channels fall short.

Innovation Themes in Deposit Partnerships

1. Embedded Deposits in Consumer Ecosystems

One of the most visible shifts is the embedding of deposit-like services within non-financial platforms. In the U.S., banks are increasingly powering embedded financial services through partnerships with mainstream consumer platforms such as Apple, Uber, and Starbucks. While balances in Apple Cash, Uber Wallet, and Starbucks Cards are typically non-interest-bearing and resemble prepaid accounts, they are supported by regulated institutions like Green Dot.

2. Deposit Marketplaces for Greater Choice

Europe has seen the rise of deposit marketplaces that aggregate offerings from multiple banks, giving customers access to the best rates. Raisin, for instance, connects users to high-yield savings accounts and fixed deposits from more than 70 financial institutions across the region.

3. Integrated Super-Apps for Targeted Segments

In the Philippines, Union Bank’s MSME-focused super-app brings together its own deposit product with ecosystem-provided financial services on a single platform. This model reflects the growing trend of banks positioning themselves as ecosystem orchestrators to create holistic experiences for customers.

4. Lifestyle-Linked and Contextual Banking

Banks are also using partnerships to enrich deposit propositions with lifestyle benefits. DBS Treasures, for example, integrates premium deposit services with curated privileges such as airport transfers, international lounge access, and golf sessions via partnerships with lifestyle brands.

5. Cross-Border or Niche Partnerships

Bancolombia’s collaboration with PayPal allows Nequi account holders to receive up to $500 monthly from their Colombian PayPal accounts instantly and without additional paperwork, removing friction in cross-border fund flows.

6. Banking-as-a-Service (BaaS) Models

Technology-driven partnerships are powering white-label deposit services. NatWest’s joint venture with Vodeno (NatWest Boxed) now delivers savings accounts and personal loans to The Automobile Association’s 14 million UK members - demonstrating how consumer brands can extend into financial services through modular BaaS infrastructure.

Looking Ahead: Scaling Ecosystem-Driven Deposits

According to IMARC Group, the open banking market is projected to expand from US $30 billion in 2024 to US $127.7 billion by 2033, growing at a 16.6% compound annual growth rate. This surge underscores how embedded ecosystems are becoming a vital vector for deposit innovation and customer acquisition. (Industry Today)

Ecosystem engagement is delivering enhanced financial performance for early adopters. A BCG study found that banks with significant participation in ecosystem models achieved higher return on equity (12.1% vs. 10.5%), annualized net income growth (9.9% vs. 6.3%), and total shareholder returns twice as high compared to peers with minimal engagement. (Boston Consulting Group)

Building on these dynamics, composable architectures and Banking-as-a-Service platforms are emerging as critical enablers. These technologies allow banks to orchestrate complex partner ecosystems, including deposit capabilities, while maintaining leadership over compliance, customer experience, and data integrity.

Operational and Strategic Considerations

While partnerships unlock innovation, they also introduce complexity. Banks must ensure seamless integration across legacy systems and partner platforms using robust APIs and shared data models. Cybersecurity, compliance, and customer experience remain the bank’s responsibility.

Leading banks are setting up joint innovation labs, building composable technology stacks, and adopting platform operating models to manage this complexity. Success depends on a clear orchestration strategy, transparent partner SLAs, and ongoing alignment on customer outcomes, not just technology delivery.

A Call to Action for Banking Leaders

To win in a competitive, fragmented market, banks must orchestrate fluid, embedded deposit experiences that are both cohesive and compliant. This requires a dual focus on product innovation and ecosystem integration. The opportunity lies not just in defending deposit share but in capturing, through digital platforms and partnerships, entirely new customer flows and segments. Embedded deposits will soon move beyond convenience and become part of customers’ everyday financial habits, whether during shopping, travel, property pursuits, or wealth-building moments. In this context, banks that prepare their platforms for ecosystem integration will not just adapt to change, they will lead it.

Authors

Rajashekara Maiya, VP & Head - Solution Consulting, Infosys Finacle

Madhusudhan B R, Principal - Product Management, Infosys Finacle

Sridhar Guturi, Product Business Manager, Infosys Finacle