ModernFi
About ModernFi
ModernFi operates a deposit network that provides financial institutions with access to extended deposit insurance and on-demand funding solutions, enabling them to attract and retain large-value depositors. By streamlining balance sheet management through integrated deposit products, ModernFi enhances liquidity and revenue growth for banks and credit unions.
```xml <problem> Financial institutions face challenges in attracting and retaining large-value depositors due to deposit insurance limitations. Traditional methods for managing balance sheets and sourcing funding can be inefficient and lack transparency. </problem> <solution> ModernFi provides a deposit network that enables financial institutions to access extended deposit insurance and on-demand funding solutions. The platform streamlines balance sheet management through integrated deposit products, enhancing liquidity and revenue growth. ModernFi's Deposit Network allows institutions to offer extended deposit insurance, attract large deposits, source overnight funding, and sweep excess deposits. Term Funding software enables institutions to source cost-effective term funding and provides insights into market pricing for brokered CDs. </solution> <features> - Deposit Network for extended deposit insurance and balance sheet management - Term Funding software for sourcing stable, efficient funding - Integrations and software to eliminate friction for depositors and operational burden for institutions - Unparalleled insights into market pricing for brokered CDs, order fill, and issued CDs - API-first and cloud-native architecture </features> <target_audience> ModernFi targets financial institutions of all sizes, including banks and credit unions, seeking to grow deposits, manage balance sheets, and enhance liquidity. </target_audience> ```
What does ModernFi do?
ModernFi operates a deposit network that provides financial institutions with access to extended deposit insurance and on-demand funding solutions, enabling them to attract and retain large-value depositors. By streamlining balance sheet management through integrated deposit products, ModernFi enhances liquidity and revenue growth for banks and credit unions.
Where is ModernFi located?
ModernFi is based in East New York, United States.
When was ModernFi founded?
ModernFi was founded in 2022.
How much funding has ModernFi raised?
ModernFi has raised 29100000.
- Location
- East New York, United States
- Founded
- 2022
- Funding
- 29100000
- Employees
- 24 employees
- Major Investors
- Curql, Members Development Company