NEW YORK--(BUSINESS WIRE)--ModernFi, which operates the first tech-enabled deposit marketplace for banks, is proud to announce its inaugural Advisory Board. The ModernFi team is extremely fortunate and grateful to work alongside industry leaders across tech and finance.
Recent events in the banking sector have crystallized the importance of effective deposit management and the absence of tech-forward solutions in the space. Faced with rapidly evolving market conditions, volatile interest rates, and the new speed of deposits, asset-liability committees need modern tools to analyze and optimize their deposit base. ModernFi, through its deposit marketplace, has stepped in to help ALCOs manage their deposit base with power and precision.
As a reflection of the firm’s growing role in the sector, ModernFi has joined the American Bankers Association as a Diamond Associate Member.
ModernFi’s inaugural Advisory Board includes:
Ahon Sarkar
General Manager of Helix by Q2, ex StoneCastle and Bridgewater
“ModernFi is a breath of fresh air in the deposits space, bringing real technological innovation to a universe that has been primarily dominated by legacy providers. With a modern tech stack focused on balance sheet optimization and a laser focus on transparency, they are driving speed and simplicity for both banks and companies embedding financial products at a critical time.”
Ahon is the General Manager of Helix by Q2, one of the nation's largest BaaS providers that today serves over 14mm people nationwide in partnership with companies like Credit Karma, Betterment, Acorns, Gusto, Rocket Money, and more. As one of the first in embedded finance as we know it today, Ahon has spent the better part of the last decade focused on evolving the BaaS space and driving differentiation for large companies through personalized and empathetic banking products.
Prior to joining Q2, Ahon was an early employee at StoneCastle Digital Solutions and helped to create Cambr – a retail-focused deposit network partnership for BaaS. Before that, he ran Special Projects for the CEO/CIO of Bridgewater Associates and founded a startup in the voice communications space.
John Horner
Founder of MoVi Partners, ex Treasurer of JP Morgan Chase
“The recent turmoil in the banking system clearly shows the need for better tools for banks to manage the liability side of their balance sheet. ModernFi is building the deposit marketplace and the analytic tools to be a big part of the solution.”
John Horner is a founder of MoVi Partners. He is also the former Chief Investment Officer and Treasurer of JPMorgan Chase. John joined JPMorgan in 2002 and held a succession of senior leadership roles since then. Prior to his role as Treasurer/CIO, he served as Head of Investor Services for the Corporate & Investment Bank, which was made up of Custody and Fund Services, Futures and Options, Derivatives Clearing, Prime Brokerage, and Fixed Income Financing. He previously served as Co-Head of ABS/MBS Trading, Head of MBS Trading, Head of Non-Agency Mortgages, and Head of Pass-Through Trading. Prior to joining JPMorgan, he was an Agency Mortgage Trader at Lehman Brothers from 1992-2002.
Ryan Nitz
Head of Solutions Architecture at Coinbase, ex AWS
“Capital efficiency and access should be available in a transparent manner to institutions of all sizes. ModernFi’s solution checks those boxes and increases resiliency in the system.”
Ryan Nitz is the Head of Solutions Architecture at Coinbase. Prior to joining Coinbase, he spent five years at Amazon Web Services (AWS) in a similar role where he covered VC and then PE-backed entities. Before wading into the world of Solutions Architecture, Ryan worked as a Software Engineer for 20 years, primarily focused on Internet infrastructure. In his spare time, Ryan acts as a technical advisor to startups and is a Venture Partner at a NYC-based accelerator.
About ModernFi
ModernFi empowers banks of all sizes to better serve their communities. Through ModernFi’s deposit marketplace, banks can source funding on demand, sweep excess deposits off balance sheet, and offer extended insurance to clients. Founded by a team of veteran engineers and bankers, the firm provides banks with seamless balance sheet management built on a foundation of compliance and regulatory adherence. Learn more at modernfi.com
