ModernFi Integrates with Q2’s Digital Banking Platform

Author

Slice of Finance Team
11 Jun

Key Highlights:

  • ModernFi integrates with Q2 Digital Banking Platform via Q2 Partner Accelerator Program.

  • Streamlines sweep and reciprocal programs, eliminating friction for depositors and bank teams.

  • Provides non-rate solutions for deposit growth and balance sheet strengthening.

  • Facilitates easier management and higher adoption of sweep programs.

  • Enables extended deposit insurance for financial institutions’ high-value customers.

Source (Business Wire)

Notable Quotes

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“ModernFi is proud to partner and integrate with Q2’s Digital Banking Platform to launch its fully integrated insured sweep account.”

Brendan Quinn, Digital Banking Partnerships Lead at ModernFi
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“Financial institutions can now access ModernFi’s deposit network to help grow deposits.”

Johnny Ola, Managing Director of Q2 Innovation Studio at Q2

Our Take:

ModernFi’s integration with Q2’s Digital Banking Platform marks a significant advancement in the way financial institutions manage deposits. By automating and modernizing sweep and reciprocal programs, ModernFi addresses critical pain points for banks and credit unions, fostering greater adoption and operational efficiency. This partnership not only strengthens balance sheets but also provides a competitive edge in attracting and retaining depositors, ensuring institutions can offer enhanced deposit insurance to their most valued customers. The collaboration underscores the ongoing digital transformation within the financial services sector, promoting innovation and stability.