Through ModernFi + Q2, banks and credit unions can offer insured sweep accounts to attract and retain large-value depositors. ModernFi’s sweep program lets financial institutions provide extended insurance to depositors through program institutions, sweep excess liquidity, and source funding. ModernFi's Q2 integration powers frictionless onboarding & operations for both depositors and financial institutions, unlocking the full potential of sweep and reciprocal products.
Features & Benefits
Attract and retain deposits
Offer frictionless sweep accounts with extended insurance to attract large-value depositors and drive deposit growth. Extended FDIC or NCUA insurance is provided through program institutions on a pass through basis, subject to meeting certain conditions
Improve the stability of your funding
Increase the amount and ratio of insured deposits at your financial institution through ModernFi's sweep and reciprocal program
Eliminate friction for your high-value depositors
Take advantage of ModernFi's Q2 integration to streamline onboarding and management of sweep accounts for key clients
Reduce operational burden for your ops team
ModernFi's Q2 integration automates depositor onboarding and account + program management, eliminating manual processes