2023: a Year in Review
2023 was a rollercoaster of a year.
The last twelve months have been a backdrop of high-profile bank failures and interest rates higher than what many might recall for the entirety of their careers. As a result, the product roadmap we began with in January only grew in urgency.
The two traits we knew the Mayfair solution must have when beginning 2023 remain our chief focuses: safety and liquidity. As we continue to build the product on the bedrock of those core strengths, we’re continuing to add features with an emphasis on functional simplicity and, of course, the highest yields2 we can negotiate with our bank partners.
As we move into another year full of unknowns, we're taking a breather to look back on what we've been able to develop in such a short period of time, thanks to a great team and great customers.
We’ve made many product updates
Mayfair's treasury management solution has continuously improved during the past twelve months. Our customers tell us they’re very happy with the yield they’re earning, and most are using some or even many of the below features: :
- Up to $50m in enhanced FDIC via the Enhanced Deposit Protection Program available to customers of Mayfair and provided by Third Coast Bank1
- Streamlined account administration with automated transfer rules and designated fee/yield accounts
- Monitor multiple entities across a single log-in
- Create multiple accounts to match internal accounting policies, as well as designate them for yield-receiving and fee-payment
- Quickly transfer funds out to external accounts for one-time payments
- Securely equip their teams with different access roles administrative or bookkeeping tasks
- Enjoy peace of mind regarding your data's security knowing Mayfair is SOC-2 Type 2 certified
Our customers span many industries
Mayfair is used by venture-backed startups, private equity portfolio companies, nonprofits, real estate companies, and many others. Some are small, some are medium, some are large. Some grow slowly, some grow quickly. Here are just a few of the firms that've added us to their fintech stack (read more about them in our case studies):
We’re grateful to hear how much our product has helped them. Mayfair "is the best thing is could bring to this company and my role," says Alex Wasserman, CFO for Flowers For Dreams:
We essentially get a free $100,000 for our company: an incredible amount of money to give back to our community, share with employees, and help keep us sustainable.
Our all-in-one dashboard is saving companies time, too—just ask Mike Skoczylas, CFO of Three Pillar Communities, who's getting five hours a week back from tediously logging into bank accounts for 15+ entities:
I can see all my accounts on one dashboard, how much cash is in each, as well as the whole amount. There’s no way I could have done that with our regular banks.”
Mayfair leads the field in terms of ease-of-use, too. Reputation management firm FiveBlocks' CEO, Sam Michelson, has this to say:
All I need to do is check on Mayfair once a week. It’s incredible to see thousands of dollars accumulate that we just weren't getting before.
We’re doubling down on our strengths
We're not content to rest on our laurels. In the coming months, look for even greater connectivity with your existing fintech stack and easier reporting. And as always, we'll continue building out the relationships and technologies needed to expand your options for safeguarding your cash in a way that aligns with your financial goals.
We wish all our customers a prosperous and safe new year.
