Dynamic Target Balance is now available in the Admin Portal, allowing you to automatically adjust your Target Balance for your Receive Program based on your sweep activity. Instead of setting a static target balance that requires manual updates, you can now define your target as a spread (positive, zero, or negative) relative to your sweep balance. This eliminates the need to continuously monitor and adjust your target balance as customer activity causes your sweep balance to fluctuate, while maintaining your desired net-sourcing, exact reciprocation, or net-sweeping position. Your target receive balance will update in real-time alongside sweep activity, reducing operational burden and ensuring your balances remain aligned with your balance sheet strategy. For more information, see here.
The Account-Level Reciprocation feature enables financial institutions to gain granular visibility into and control over how reciprocal balances are attributed across individual Insured Sweep Accounts. Institutions can prioritize specific accounts for reciprocal classification or rely on automatic determination based on balance levels from lowest to highest, with clear identification of which accounts are currently reciprocated. This capability delivers significant benefits to clients by supporting more detailed reporting of network activity for account- and branch-level attribution, facilitating compliance with regulatory obligations, and empowering institutions to strategically manage their reciprocal relationships with greater precision and transparency that aligns with their operational needs. For more information, see here.
Banks can now assign Ownership Categories to their customers on the Admin Portal, enabling more granular tracking of depositors in the NBID Network. Admins can assign an Ownership Category during Account Opening and can edit or add them to existing customers through the Depositors table.
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.
Welcome to the Changelog for NBID Resource Center!