Pricing Groups enable your institution to manage interest rates across multiple accounts more efficiently. Rather than updating rates for each account individually (or en masse), you can organize accounts into groups and, in a single update, apply rate changes to each account within a group. This functionality eliminates manual account-by-account rate updates, while ensuring you can maintain a targeted rate strategy through a solution that scales with your account volume. For more information, see here.
This new release ensures that your account opening experience adapts to any live integrations in place with your core and/or digital banking providers, resulting in a more intuitive experience for program administrators and deposit gatherers.
The depositor creation flow now includes an optional Account Officer field to track which relationship manager is responsible for each depositor relationship. This field appears in both the Add Depositor form and the Depositors table, enabling better client management and internal accountability. Reference the documentation for more information.
FI admins can now customize end-of-month account statements directly in the Admin Portal through Institution Settings. Customization options include statement title, disclosure paragraphs, FDIC regulatory mark display, contact and mailing information, account number masking, and closing paragraphs. Settings apply institution-wide to all future statements automatically. All institutions start with default settings that match their current statement format. Reference the documentation for more information.
FI admins can now create depositors directly in the Admin Portal as part of the account opening flow. After submitting account details, you'll be prompted to add depositor information including type, name, contact details, and address. You can optionally send the depositor a portal invitation to access their account. Both the account and depositor are created automatically without requiring ModernFi manual intervention. Reference the documentation for more information.
FI admins can now edit depositor information directly in the Admin Portal. In the "Sweep Program" section, click on any row in the depositors table to open an edit modal. Depending on the depositor type, you'll be able to update First Name and Last Name fields for individuals, or Entity Name for organizations. You can also modify the Institution Depositor ID, which must be unique across all depositors at your institution. Changes are saved immediately upon submission. Reference the documentation for more information.
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