ModernFi Sweep Application

ModernFi integrates directly into the core and digital experience of your financial institution, enabling you and your depositors to manage funds through self-service, transparent, and automated tools. The platform replaces outdated workflows with a seamless, embedded solution, helping institutions protect large deposits, improve liquidity access, and reduce operational burden.

Through this technology, ModernFi powers two purpose-built and institution-owned and governed deposit networks that are reshaping how financial institutions can manage and protect deposits at scale.

• National Bank InterDeposit Company (NBID), a bank-driven reciprocal deposit network. Banks of all sizes are joining NBID to offer customers access to millions in aggregate insurance across network banks*, receive funding on demand, and potentially improve their margins.
• Credit unions across asset sizes and geographies are joining ModernFi CUSO, the first-of-its-kind network for credit unions, to extend millions in aggregate deposit insurance across a network credit unions*, source funding on demand, manage their balance sheet, and potentially grow revenue. ModernFi’s API-driven platform streamlines onboarding, reporting, and operations so your credit union can attract and retain large-value member relationships, diversify funding, and enhance margins with a compelling non-rate value proposition.

These deposit networks are embedded directly into your depositor’s digital experience, leveraging integrations with your digital banking or core provider to provide plug-and-play simplicity for institutions of any size. Unlike legacy networks that require separate portals and offer fragmented experiences, ModernFi keeps everything within your existing web and mobile application. ModernFi delivers a seamless, integrated solution built for today’s infrastructure, bringing deposit networks into the modern era.

*A list identifying ModernFi / NBID network banks can be found at www.nbid.com/bank-list. A list identifying ModernFi CUSO network credit unions can be found at www.modernfi.com/credit-union-list. ModernFi is not an FDIC-insured bank, and deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for “pass-through" FDIC deposit insurance coverage to apply. A list identifying ModernFi CUSO network credit unions can be found